Statoil Operating Income Drops 4 Percent YoY In 3Q 2013Hira Shahnawaz Akhtar
Statoil ASA (NYSE:STO)’s operating earnings dropped 4% YoY on account of excessive depreciation and exploration expenses. Statoil recently released its accounts for 3Q2013 and revealed that its net income has dropped 6% to NOK 13.7 billion in 3Q2013 against NOK 14.5 billion in the same period last year. Adjusted income was up 1% to NOK 40.4 billion.
Table 1: Statoil Income Statement 3Q2013
The revenues . . .
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