Statoil ASA showed that a return to profit levels from the era of $100 a barrel is within the grasp of the world’s oil giants.
The Norwegian producer posted the highest net income since 2014, giving a first indication of what’s in store for investors in the other major energy companies that present first-quarter earnings this week. Big Oil is expected to report the highest level of free cash flow in 12 years, thanks to a recovery in crude prices and drastic cost cuts.
Brazil Energy Insight 
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