Statoil Surprised by Loss as Oil Prices Hit Profits

The transcript discusses the financial struggles of major oil companies like Statoil and BP, highlighting their reliance on borrowing to pay dividends. It questions whether other companies like Total and Exxon will face similar issues. The weakening refining business is also noted as a challenge. Norway's sovereign wealth fund, supported by oil revenues, is examined, and the commitment of European companies to maintain high dividends despite financial turmoil is discussed.

In what ways has Statoil's financial strategy changed over the years?

What are the implications of maintaining high dividend payouts for oil companies?