Free Research Report as Statoil’s Revenue Advanced 12% and Adjusted Earnings Soared 265.63%

Stock
Monitor: Aegean Marine Petroleum Network Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 27,
2017 / Active-Investors’ free earnings report on Statoil ASA
(NYSE: STO) has freshly been issued to its members, and you can also sign up to view
this report at www.active-investors.com/registration-sg/?symbol=STO.
Statoil reported its third quarter fiscal 2017 operating results on October 26,
2017. The Stavanger, Norway-based Company’s production increased 13% on a y-o-y
basis. Register today and get free access to our complimentary member’s area
where many more reports are available: www.active-investors.com/registration-sg.

Active-Investors.com is currently
working on the research report for Aegean Marine Petroleum Network Inc. (NYSE: ANW),
which also belongs to the Basic Materials sector as the Company Statoil. Do not
miss out and become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=ANW.

Active-Investors.com
is focused on giving you timely information and the inside line on companies
that matter to you. This morning, Statoil most
recent news is on our radar and we have decided to include it on our blog post.
Today’s free coverage is available at: www.active-investors.com/registration-sg/?symbol=STO.

Earnings
Highlights and Summary

For the three
months ended September 30, 2017, Statoil reported revenues of $13.61 billion,
up 12% compared to revenue of $12.11 billion in Q3 2016. The Company’s adjusted
revenue and other income for the reported quarter totaled $14.09 billion
compared to $11.86 billion in the prior year’s same quarter.

For Q3 2017,
Statoil’s net operating income was $1.10 billion compared to net operating
income of $737 million in Q3 2016. The 48% increase was primarily due to higher
prices, both for liquids and gas, as well as increased volumes of gas sold and
higher margins in processing added to the increase. Statoil’s net operating
income was impacted by net impairments charges of $0.8 billion, mainly related
to an unconventional onshore asset in North America of $856 million, triggered
by lower than expected production.

Statoil’s IFRS
net income was negative $0.5 billion in Q3 2017 from negative $0.4 billion in
Q3 2016. The Company’s adjusted earnings for the reported quarter were $2.34
billion in, up from $636 million in the year ago same period. Higher prices for
both oil and gas, solid operational performance with high production, strong
liquids trading, and refinery margins contributed to the increase. Statoil’s
earnings fell short of analysts’ expectations of $2.45 billion.

Operating
Results

Statoil delivered equity production of
2,045 mboe per day in Q3 2017, up 13% from 1,805 mboe per day in Q3 2016. The
increase was primarily due to increased flexible gas production on the
Norwegian continental shelf (NCS) because of higher prices, lower turnaround
activity, ramp-up of new fields, additional well capacity, and continued strong
operational performance. Adjusted for portfolio changes, the Company’s
underlying production growth was 15% on a y-o-y basis.

During Q3 2017, Statoil’s total
entitlement liquids and gas production grew 14% to 1,883 mboe per day, compared
to 1,651 mboe per day in Q3 2016 due to the increase in equity, partially
offset by negative effects from production sharing agreements (PSA) and US
royalties. The effects from PSA and US royalties were 162 mboe per day in the
reported quarter compared to 154 mboe per day in the year earlier corresponding
quarter. Statoil’s adjusted exploration expenses in Q3 2017 were $0.4 billion,
down from $0.6 billion in Q3 2016.

Cash Position

Statoil’s cash flows provided by operating
activities before tax amounted to $14.9 billion in the first nine months of
2017 compared to $9.9 billion for the same period last year. The Company’s
organic capital expenditure was $6.7 billion in the first nine months of 2017.
At the end of the reported quarter, Statoil’s net debt to capital employed was
27.8%

Statoil noted that its Board of Directors
has decided to maintain a dividend of $0.2201 per ordinary share for Q3 2017
and continue the scrip program giving shareholders the option to receive the
dividend in cash or newly issued shares in Statoil at a 5% discount.

Outlook

Statoil expects
to achieve an additional $1 billion in efficiency improvements in 2017, with a
total of $4.2 billion for 2017. For the period 2016–2020, the Company’s organic
production growth is expected to come from new projects resulting in around 3%
Compound Annual Growth Rate (CAGR). Statoil’s scheduled maintenance activity is
estimated to reduce quarterly production by approximately 25 mboe per day in Q4
2017. In total, maintenance is estimated to reduce equity production by around
30 mboe per day for the full fiscal year 2017.

Stock Performance Snapshot

November
24, 2017 – At Friday’s closing bell, Statoil’s stock was
slightly up 0.29%, ending the trading session at $20.40.

Volume traded for the
day: 366.30 thousand shares.

Stock performance in the
last three-month – up 8.92%; previous six-month period – up 14.03%; past twelve-month
period – up 20.71%; and year-to-date – up 11.84%

After last Friday’s
close, Statoil’s market cap was at $67.44 billion.

The stock has a dividend
yield of 4.31%.

The stock is part of the Basic
Materials sector, categorized under the Major Integrated Oil & Gas
industry. This sector was up 0.3% at the end of the session.

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