Statoil stung by hedging derivatives losses

business graph

Statoil, Europe's largest natural gas producer after Russia's Gazprom, has revealed a range of losses from derivatives it used to hedge against fluctuations in foreign currency, interest rates and commodity prices in the second quarter of 2010.

Compared with the same period last year, Q2 cashflows provided by operating activities were hit by a Nkr15.1 billion loss in derivatives, worth $2.4 billion, due to divestment, says the company.

Adjusted earnings in Q2 2010 stood at Nkr36.4 billion, up 25

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: