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Statoil loss widens in 3Q

Norwegian oil major Statoil has booked a bigger loss for the third quarter 2017 compared to the one posted a year ago while its revenues and production increased during the period. 

Statoil on Thursday reported adjusted earnings of $2.3 billion in the third quarter, up from $0.6 billion in the same period in 2016. After tax, Statoil’s adjusted earnings amounted to $0.8 billion in the third quarter of 2017 up from negative $0.3 billion in the same period last year.

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