This week, the Norwegian oil and gas company StatoilHydro presented its first quarterly statement for 2008. Due to the raising oil prices, StatoilHydros income has boomed. The price per barrel of oil in this period has past 100 USD, which is a lot more than what StatoilHydro had estimated.
Compared with last year, the oil price has risen with 40 percent. This led to a operating result for StatoilHydro in the first quarterly of 2008 of 6.3 billion EUR, and a net profit of 2 billion EUR. The company average production in the period was almost 2,1 million barrels of oil per day.
The only thing that is not so positive for the Norwegian Energy company, is that the costs for production and search after oil and gas resources have increased with 50 percent. But StatoilHydro believe that these costs will stabilize now.
Read StatoilHydros press release (In English)
