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Rating: STO
Sector Perform

Statoil Asa (NYSE: STO) rated to Sector Perform by RBC Capital Mkts

Thursday,  May 15, 2014  12:00 AM ET by Betsy O'Brien Harrison

RBC Capital Mkts
rated Statoil Asa (NYSE: STO) to Sector Perform.

Statoil ASA (Statoil), formerly StatoilHydro ASA (StatoilHydro), is an integrated oil and gas company based in Norway with locations in approximately 40 other countries worldwide. As of December 31, 2008, the Company had proved reserves (including its share of reserves in affiliated companies of 127 million barrels (mmbbl) of oil) of 2201 mmbbl of oil and 537.8 billion cubic meters (bcm) (equivalent to 19 trillion cubic feet (tcf)) of natural gas, corresponding to aggregate proved reserves of 5584 million barrels of oil equivalent (mmboe). The Company operates in four business segments: Exploration and Production Norway (EPN), International Exploration and Production (INT), Natural Gas (NG) and Manufacturing and Marketing (M&M). In June 2008, Dala Kraft AB announced that it has acquired Statoil ASA?s subsidiary Hydro Energi AB. In December 2008, Anadarko Petroleum Corporation completed the sale of its 50% interest in the Peregrino heavy-oil field offshore Brazil to Statoil.

RBC Capital Markets is an international corporate and investment bank that provides innovative solutions and a focused set of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,700 professional and support staff, we operate out of 75 offices in 15 countries and deliver our products and services through operations in Asia and Australasia, the UK and Europe and in every major North American city.

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