Statoil net income up 50 per cent

Norway's Statoil said yesterday its adjusted net income rose 50 per cent to $2.07bn (£1.28bn) in the third quarter and its production climbed 14 per cent. Statoil said its output rose 14 per cent in the quarter compared with the same period last year, to 1.57m barrels a day. However, the company still expects its output to be down slightly this year, before rising next year.