Monday morning StatoilHydro’s CEO, Helge Lund, precented his company’s third quarter results. The energy company’s results ended on 6.3 billion NOK, or approximately 800 million EUR. Analysts expected in advance a result around 14 billion NOK (1.8 bill EUR), and some describe StatoilHydro’s figures for the period as horrible. However, when the figures are studied more closely it seems that the situation is not as horrible as first assumed. Stock market analyst Oddvar Bjørgan says to the news site E24.no that it is the incomes from StatoilHydro’s international operations which cause problems. International exploration and production had a very bad result, mainly due to reduction in big projects abroad. The results for production on the Norwegian shelf are at the level as the analyst estimated in advance. The market price of StatoilHydro shares this Monday morning dropped four percent on the Oslo Stock Stock Exchange, before it again started to climb. Not long after the price was back at the same as it was on Friday afternoon.
