Statoil slashes 10% off capex

ANALYSTS are concerned Norwegian multinational Statoil is overly optimistic about its outlook after the company slashed 10% off its capital spending for 2015 from $US20 billion ($A25.73 billion) to $18 billion.

Statoil said it would also step up cost cutting to defend its dividend payments as falling oil prices and impairments pushed it to a fourth-quarter net loss of 8.9 billion kroner ($A1.

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