EXPLORATION

Income down but earnings up for Statoil

NORWEGIAN oil and gas giant Statoil has reported a net operating income for the fourth quarter of 2012 of 45.8 billion Norwegian krone ($A8 billion), down from the kr60.7 billion it made in Q4 2011.

Noel Dyson

In 2012 the company's net operating income for 2012 was kr206.6 billion. However, its adjusted earnings for Q4 were kr48.3 billion, up from the kr45.9 billion in Q4 2011. Adjusted earnings after tax...

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