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Statoil profits hit by lower oil, gas prices

By WTOP Staff

HELSINKI (AP) — Norwegian energy company Statoil says impairment charges and lower oil and gas prices pushed it into net loss of 4.8 billion kroner ($727 million) in the third quarter.

Earnings fell from a net profit of 14.3 billion kroner in the same period in 2013. Revenue dropped 9 percent to 147 billion kroner.

The company said Wednesday that it “delivered strong operational performance” in the period even as operating income fell by more than half to 17 billion kroner.

Statoil said it continues to expect capital expenditure of some $20 billion this year and that total exploration activities, of some 50 wells, would amount to $3.5 billion this year.

Two weeks ago, CEO Helge Lund resigned and was replaced by Eldar Saetre, a senior Statoil executive.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

By WTOP Staff
WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
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