LogIn LogOut

Statoil's US Operations Have Turned the Corner

February 7, 2018

Torgrim Reitan, Statoil's head of U.S. operations (Photo: Ole Jørgen Bratland / Statoil)
Torgrim Reitan, Statoil's head of U.S. operations (Photo: Ole Jørgen Bratland / Statoil)
Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday.
"As oil prices increase there is a significant potential for both earnings and cash flow here, and at (WTI) $70 a barrel oil, the U.S. business will add $5 billion in surplus cash," he told Reuters after Statoil's fourth-quarter results presentation.
Reporting by Nerijus Adomaitis


Current News

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

Shell's Giant Prelude FLNG Unit to Remain Shut for Longer as Pay Dispute Continues

Shell's Giant Prelude FLNG Unit to Remain Shut for Longer as Pay Dispute Continues

Magseis Fairfield Firms Up SE Asia OBN Survey Deal

Magseis Fairfield Firms Up SE Asia OBN Survey Deal

FEED Contract Awarded for Ulsan Gray Whale 3 Floating Wind Farm in S. Korea

FEED Contract Awarded for Ulsan Gray Whale 3 Floating Wind Farm in S. Korea

PTTEP Restarts Zawtika Gas Flows to Thailand After Pipeline Fixed

PTTEP Restarts Zawtika Gas Flows to Thailand After Pipeline Fixed

Dayang Pens Deal with Shell for Dayang Cempaka Vessel

Dayang Pens Deal with Shell for Dayang Cempaka Vessel

US Says India Hid Russian Origin of Fuel Shipped to US

US Says India Hid Russian Origin of Fuel Shipped to US
photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com