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Statoil third quarter earnings lag due to lower output in North America

“Norwegian oil firm Statoil reported on Thursday lower-than-expected earnings due to impairment charges mainly related to lower output from its unconventional onshore assets in North America” writes Jan Arne Wold for Statoil’s adjusted operating profit reached $2.3 billion in the third quarter, up from $0.7 million during the same period a year ago but against expectations of $2.45 billion.Statoil’s international division posted a loss $27 million in the quarter against expectations for a profit of 73 million.

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