Statoil Earnings, Production Targets Miss Estimates

Statoil, Norway's largest oil company, reported third-quarter earnings slightly below estimates, with an adjusted net income of 9.1 billion Norwegian kroner against an expected 9.3 billion. The company faces a significant leadership change as CEO Helgeland resigns to join BG, a smaller rival. Statoil is committed to maintaining its strategy of cost-cutting to enhance shareholder returns, despite scrapping earlier production growth targets. The company is also implementing efficiency programs to manage investments and dividends. Oil production for the quarter was below expectations, and the search for a new chief executive is underway.

What was Statoil's adjusted net income for the third quarter?

• 9.5 billion Norwegian kroner

• 8.9 billion Norwegian kroner

• 9.3 billion Norwegian kroner

• 9.1 billion Norwegian kroner

Who recently resigned as the chief executive of Statoil?

• Helgeland

• Bjorn

• Larsen

• Nilsen

Which company did Helgeland join after leaving Statoil?

• Equinor

• Shell

• BG

• Total

What strategy is Statoil committed to maintaining to enhance shareholder returns?

• Raising oil prices

• Increasing production

• Cutting costs

• Expanding into new markets

What was Statoil's oil output for the quarter?

• 1.15 million barrels per day

• 1.796 million barrels per day

• 1.5 million barrels per day

• 2 million barrels per day