The Norwegian oil player’s chief executive,Helge Lund, will not, however, be imposing any divestment target but admittedit will be some time beyond the end of the decade before a stated target of 2.5million barrels per day of production is met.
Statoil unveiled a significantly reducedfull-year net profit of Nkr39.2 billion ($6.3 billion) on Tuesday, largely onthe back of falling production and prices, and a rise in expenses.
The
