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In addition, Statoil has ended its two -year scrip programme as planned. We also see an emerging scope for share buy -back s, dependent on macro outlook and portfolio developments. However, the near -term priority is to strengthen the balance sheet. Statoil has increased its production guiding while at the same time reducing capital expenditures.
Statoil is an international energy company with operations in over 30 countries. We are headquartered in Stavanger, Norway with approximately 20,500 employees worldwide. We create value through safe and efficient operations, innovative solutions and technology. Statoil’s competitiveness is founded on our values-
4.9 - 5.6 4.2 - 4.6 0.8 - 1.2 1.3 –2.0 6.82) 8.03) 4.4 - 4.8 16 US LNG currently in the money Source: NYMEX, ICE, Platts, Pira, Statoil ASA 1 NYMEX Henry Hub Forward curve for Winter 2017/18 –25 Sep 2017 2 ICE NBP Forward curve for Winter 2017/18 - 25 Sep 2017 3 Platts JKM (Asia LNG December deliveries –25 Sep 2017
Balanced Scorecard strategic analysis can help Statoil Norwegian managers in understanding the relationship between activites and take the systems approach rather than the local optimization approach.
By 1972, the Storting (national assembly) had agreed to “ten oil commandments” emphasizing Norway’s national control over all activities related to petroleum resources and the use of petrol in new industrial activities and the need for one state-owned, one parastatal and one private national player.
When Norway’s Statoil launched its business support unit, Global Business Services (GBS), in 2001, it quickly created and implemented a cascade of bal-anced scorecards for three levels: 1. GBS 2. Functional shared services lines (such as finance) 3. Departmental levels
We have audited the financial statements of Statoil Petroleum AS which comprise the balance sheet as 31 December 2017, income statement, statement of comprehensive income, statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
