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Statoil Profit Rises on Higher Production

Thursday, 26 Jul 2012 | 1:35 AM ET

Helge Lund, CEO of Statoil, the Norwegian oil giant, told CNBC, "I think it's another good quarter for Statoil industrially and financially, we are grown our production with 17 percent from second quarter last year that is consistent with our plans and we have adjusted earnings around 46 billion Norwegian Krona and a strong-cash flow in the quarter."