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Equinor — Interim / Quarterly Report 2011
Apr 7, 2011
3597_ffr_2011-04-07_f080de96-5ba0-4e73-b342-691494e86fef.zip
Interim / Quarterly Report
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
April 07, 2011 Commission File Number 1-15200
Statoil ASA
(Translation of registrant’s name into English) FORUSBEEN 50, N-4035, STAVANGER, NORWAY (Address of principal executive offices )
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
This Report on Form 6-K contains a press release issued by Statoil ASA on April 07, 2011, entitled "Changes in Statoil’s reporting segments effective from 1 January 2011”.
Changes in Statoil’s reporting segments effective from 1 January 2011
Effective from 1 January 2011, Statoil (OSE:STL, NYSE:STO) reports its business through the following reporting segments:
- Development and Production Norway
- Development and Production International
- Marketing, Processing and Renewable Energy
- Fuel & Retail
- Other
The reporting segments Development and Production Norway and Development and Production International are unchanged compared to the former segment results reported. The former business areas Manufacturing & Marketing, Natural Gas and the New Energy unit of the former Technology and New Energy, are merged into a new business area for Marketing, Processing and Renewable Energy. Fuel & Retail is presented as a separate reporting segment from 4th quarter 2010, following the listing of Statoil Fuel & Retail.
Segment data for the quarters in 2010 and full year are presented below. Quarterly segment data for Fuel & Retail are not available since this information is not disclosed by Statoil Fuel & Retail.
| SEGMENTS - QTD — (in NOK million) - QUARTER TO DATE (QTD) | Development and Production Norway | Development and Production International | Marketing, Processing and Renewable Energy | Fuel and Retail | Other | Eliminations | Total |
|---|---|---|---|---|---|---|---|
| Three months ended | |||||||
| 31-Dec-10 | |||||||
| Revenues and other income - third party | 635 | 3 270 | 123 992 | NA | NA | NA | 143 338 |
| Revenues and other income - inter-segment | 49 344 | 10 198 | 12 188 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 10 | -149 | 111 | NA | NA | NA | -52 |
| Total revenues and other income | 49 989 | 13 319 | 136 291 | NA | NA | NA | 143 286 |
| Net operating income | 33 863 | 4 132 | 4 593 | NA | NA | NA | 42 816 |
| Three months ended | |||||||
| 30-Sep-10 | |||||||
| Revenues and other income - third party | 1 469 | 1 744 | 106 503 | NA | NA | NA | 126 884 |
| Revenues and other income - inter-segment | 34 143 | 10 493 | 9 294 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 18 | 314 | 216 | NA | NA | NA | 533 |
| Total revenues and other income | 35 630 | 12 551 | 116 013 | NA | NA | NA | 127 417 |
| Net operating income | 23 522 | 1 183 | 2 258 | NA | NA | NA | 28 229 |
| Three months ended | |||||||
| 30-Jun-10 | |||||||
| Revenues and other income - third party | 1 704 | 1 277 | 110 185 | NA | NA | NA | 129 177 |
| Revenues and other income - inter-segment | 41 276 | 9 761 | 10 177 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 10 | 231 | -181 | 1 | 1 | 1 | 53 |
| Total revenues and other income | 42 990 | 11 269 | 120 181 | NA | NA | NA | 129 230 |
| Net operating income | 29 625 | 2 457 | -6 523 | NA | NA | NA | 26 599 |
| Three months ended | |||||||
| 31-Mar-10 | |||||||
| Revenues and other income - third party | 294 | 2 066 | 111 709 | NA | NA | NA | 129 116 |
| Revenues and other income - inter-segment | 41 807 | 11 479 | 8 849 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 18 | 311 | 284 | NA | NA | NA | 599 |
| Total revenues and other income | 42 119 | 13 856 | 120 842 | NA | NA | NA | 129 715 |
| Net operating income | 28 605 | 4 851 | 5 760 | NA | NA | NA | 39 584 |
| Three months ended | |||||||
| 31-Dec-09 | |||||||
| Revenues and other income - third party | 2 149 | 3 492 | 100 957 | NA | NA | NA | 123 804 |
| Revenues and other income - inter-segment | 40 839 | 7 657 | 10 362 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 26 | 444 | 81 | NA | NA | NA | 565 |
| Total revenues and other income | 43 014 | 11 593 | 111 400 | NA | NA | NA | 124 369 |
| Net operating income | 27 866 | 2 871 | 3 301 | NA | NA | NA | 33 544 |
| Three months ended | |||||||
| 30-Sep-09 | |||||||
| Revenues and other income - third party | 1 916 | 3 402 | 102 479 | NA | NA | NA | 122 458 |
| Revenues and other income - inter-segment | 36 821 | 7 715 | 7 621 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 12 | 288 | 319 | NA | NA | NA | 603 |
| Total revenues and other income | 38 749 | 11 405 | 110 419 | NA | NA | NA | 123 061 |
| Net operating income | 25 855 | 860 | 712 | NA | NA | NA | 28 258 |
| Three months ended | |||||||
| 30-Jun-09 | |||||||
| Revenues and other income - third party | 986 | 3 018 | 87 395 | NA | NA | NA | 104 658 |
| Revenues and other income - inter-segment | 32 954 | 7 452 | 6 967 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 29 | 231 | 345 | NA | NA | NA | 590 |
| Total revenues and other income | 33 969 | 10 701 | 94 707 | NA | NA | NA | 105 248 |
| Net operating income | 20 601 | 1 187 | 3 169 | NA | NA | NA | 24 312 |
| Three months ended | |||||||
| 31-Mar-09 | |||||||
| Revenues and other income - third party | -898 | 2 389 | 99 469 | NA | NA | NA | 112 735 |
| Revenues and other income - inter-segment | 43 817 | 5 635 | 6 867 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 12 | 112 | -88 | NA | NA | NA | 20 |
| Total revenues and other income | 42 931 | 8 136 | 106 248 | NA | NA | NA | 112 755 |
| Net operating income | 29 996 | -2 319 | 9 079 | NA | NA | NA | 35 526 |
| SEGMENTS - YTD — (in NOK million) - YEAR TO DATE (YTD) | Development and Production Norway | Development and Production International | Marketing, Processing and Renewable Energy | Fuel and Retail | Other | Eliminations | Total |
|---|---|---|---|---|---|---|---|
| Year to date | |||||||
| 31-Dec-10 | |||||||
| Revenues and other income - third party | 4 101 | 8 358 | 452 389 | NA | NA | NA | 528 515 |
| Revenues and other income - inter-segment | 166 571 | 41 930 | 40 508 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 56 | 707 | 430 | NA | NA | NA | 1 133 |
| Total revenues and other income | 170 728 | 50 995 | 493 327 | NA | NA | NA | 529 648 |
| Net operating income | 115 615 | 12 623 | 6 089 | NA | NA | NA | 137 228 |
| Year to date | |||||||
| 31-Dec-09 | |||||||
| Revenues and other income - third party | 4 153 | 12 301 | 390 300 | NA | NA | NA | 463 655 |
| Revenues and other income - inter-segment | 154 431 | 28 459 | 31 817 | NA | NA | NA | 0 |
| Net income from equity accounted investments | 79 | 1 075 | 657 | NA | NA | NA | 1 778 |
| Total revenues and other income | 158 663 | 41 835 | 422 774 | NA | NA | NA | 465 433 |
| Net operating income | 104 318 | 2 599 | 16 261 | NA | NA | NA | 121 640 |
| Development & Production Norway — IFRS income statement | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
|---|---|---|---|---|---|
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Total revenues and other income | 42,1 | 43,0 | 35,6 | 50,0 | 170,7 |
| Operating expenses and selling, general and adm. expenses | 6,3 | 5,7 | 5,4 | 6,1 | 23,6 |
| Depreciation, amortisation and net impairment losses | 6,1 | 6,4 | 5,7 | 7,9 | 26,0 |
| Exploration expenses | 1,1 | 1,3 | 1,0 | 2,1 | 5,5 |
| Total operating expenses | 13,5 | 13,4 | 12,1 | 16,1 | 55,1 |
| Net operating income | 28,6 | 29,6 | 23,5 | 33,9 | 115,6 |
| Adjusted earnings | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Adjusted Total revenues and other income | 42,4 | 42,7 | 34,1 | 48,0 | 167,2 |
| Adjusted Operating expenses and selling, general and adm. expenses | 6,1 | 5,9 | 5,7 | 6,0 | 23,8 |
| Adjusted Depreciation, amortisation and impairment | 6,1 | 6,4 | 5,7 | 7,9 | 26,0 |
| Adjusted Exploration expenses | 1,1 | 1,3 | 1,0 | 2,1 | 5,5 |
| Adjusted earnings | 29,1 | 29,1 | 21,7 | 32,0 | 111,9 |
| First quarter | Second quarter | Third quarter | Fourth quarter | Full Year | |
| Operational data | 2010 | 2010 | 2010 | 2010 | 2010 |
| Prices: | |||||
| Liquids price (USD/bbl) | 73,5 | 73,6 | 73,4 | 84,1 | 76,3 |
| Liquids price (NOK/bbl) | 431,0 | 459,1 | 452,6 | 498,3 | 461,0 |
| Transfer price natural gas (NOK/scm) | 1,13 | 1,17 | 1,32 | 1,48 | 1,27 |
| Liftings: | |||||
| Liquids (mboe per day) | 772 | 700 | 618 | 754 | 711 |
| Natural gas (mboe per day) | 769 | 709 | 454 | 748 | 669 |
| Total liquids and gas liftings (mboe per day) | 1 541 | 1 409 | 1 072 | 1 502 | 1 380 |
| Production: | |||||
| Entitlement liquids (mboe per day) | 777 | 723 | 609 | 711 | 704 |
| Entitlement natural gas (mboe per day) | 769 | 709 | 454 | 748 | 669 |
| Total entitlement liquids and gas production (mboe per day) | 1 546 | 1 432 | 1 063 | 1 459 | 1 374 |
| Development & Production International — IFRS income statement | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
|---|---|---|---|---|---|
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Total revenues and other income | 13,9 | 11,3 | 12,6 | 13,3 | 51,0 |
| Operating expenses and selling, general and adm. expenses | 3,1 | 2,8 | 3,0 | 2,6 | 11,4 |
| Depreciation, amortisation and net impairment losses | 3,8 | 3,8 | 5,7 | 3,4 | 16,7 |
| Exploration expenses | 2,1 | 2,3 | 2,7 | 3,2 | 10,3 |
| Total operating expenses | 9,0 | 8,8 | 11,4 | 9,2 | 38,4 |
| Net operating income | 4,9 | 2,5 | 1,2 | 4,1 | 12,6 |
| Adjusted earnings | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Adjusted Total revenues and other income | 12,7 | 12,1 | 11,7 | 13,5 | 49,9 |
| Adjusted Operating expenses and selling, general and adm. expenses | 2,6 | 3,0 | 2,7 | 2,9 | 11,1 |
| Adjusted Depreciation, amortisation and impairment | 3,8 | 3,9 | 3,8 | 3,4 | 14,9 |
| Adjusted Exploration expenses | 1,8 | 2,4 | 2,7 | 3,2 | 10,1 |
| Adjusted earnings | 4,5 | 2,9 | 2,5 | 4,0 | 13,8 |
| First quarter | Second quarter | Third quarter | Fourth quarter | Full Year | |
| Operational data | 2010 | 2010 | 2010 | 2010 | 2010 |
| Prices: | |||||
| Liquids price (USD/bbl) | 75,0 | 75,2 | 74,6 | 83,9 | 76,8 |
| Liquids price (NOK/bbl) | 439,4 | 468,9 | 459,7 | 497,3 | 464,2 |
| Liftings: | |||||
| Liquids (mboe per day) | 306 | 242 | 255 | 231 | 258 |
| Natural gas (mboe per day) | 82 | 75 | 57 | 61 | 68 |
| Total liquids and gas liftings (mboe per day) | 387 | 317 | 311 | 292 | 327 |
| Production: | |||||
| Entitlement liquids (mboe per day) | 288 | 258 | 259 | 249 | 263 |
| Entitlement natural gas (mboe per day) | 82 | 75 | 57 | 61 | 68 |
| Total entitlement liquids and gas production (mboe per day) | 370 | 333 | 316 | 310 | 332 |
| Total equity gas production (mboe per day) | 116 | 100 | 79 | 92 | 97 |
| Total equity liquids production (mboe per day) | 441 | 425 | 409 | 394 | 417 |
| Total equity liquids and gas production (mboe per day) | 557 | 525 | 489 | 486 | 514 |
| Marketing, Processing and Renewable energy — IFRS income statement | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
|---|---|---|---|---|---|
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Total revenues and other income | 120,8 | 120,2 | 116,0 | 136,3 | 493,3 |
| Operating expenses and selling, general and adm. expenses | 106,9 | 112,3 | 107,0 | 125,9 | 452,1 |
| Depreciation, amortisation and net impairment losses | 7,5 | 10,8 | 6,0 | 5,0 | 29,2 |
| Exploration expenses | 0,7 | 3,6 | 0,8 | 0,8 | 5,9 |
| Total operating expenses | 115,1 | 126,7 | 113,8 | 131,7 | 487,2 |
| Net operating income | 5,7 | (6,5) | 2,2 | 4,6 | 6,1 |
| Adjusted earnings | First quarter | Second quarter | Third quarter | Fourth quarter | Full Year |
| (in NOK billion) | 2010 | 2010 | 2010 | 2010 | 2010 |
| Adjusted Total revenues and other income | 120,1 | 123,2 | 116,5 | 139,0 | 498,8 |
| Adjusted Operating expenses and selling, general and adm. expenses | 107,4 | 112,2 | 106,8 | 126,3 | 452,7 |
| Adjusted Depreciation, amortisation and impairment | 7,0 | 6,9 | 6,8 | 7,7 | 28,3 |
| Adjusted Exploration expenses | 0,7 | 0,7 | 0,8 | 0,8 | 3,0 |
| Adjusted earnings | 5,0 | 3,4 | 2,1 | 4,2 | 14,8 |
| First quarter | Second quarter | Third quarter | Fourth quarter | Full Year | |
| Operational data | 2010 | 2010 | 2010 | 2010 | 2010 |
| FCC margin (USD/bbl) | 5,7 | 6,0 | 4,2 | 5,5 | 5,4 |
| Contract price methanol (EUR/tonne) | 235 | 250 | 255 | 277 | 254 |
| Natural gas sales Statoil entitlement (bcm) | 11,6 | 11,0 | 7,5 | 11,6 | 41,7 |
| Natural gas sales (third-party volumes) (bcm) | 2,5 | 2,8 | 2,9 | 2,9 | 11,1 |
| Natural gas sales (bcm) | 14,1 | 13,8 | 10,4 | 14,5 | 52,8 |
| Natural gas sales on commission | 0,4 | 0,4 | 0,4 | 0,3 | 1,5 |
| Natural gas price (NOK/scm) | 1,64 | 1,61 | 1,74 | 1,84 | 1,72 |
| Transfer price natural gas (NOK/scm) | 1,13 | 1,17 | 1,32 | 1,48 | 1,27 |
| Regularity at delivery point | 100 % | 100 % | 100 % | 100 % | 100 % |
Contacts:
Investor relations Hilde Merete Nafstad, senior vice president, Investor relations, +47 957 83 911 (mobil) Morten Sven Johannessen, vice president, Investor relations USA, + 1 203 570 2524 (mobil) Press Jannik Lindbæk jr., vice president for media relations, +47 97 75 56 22
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: April 07, 2011 | STATOIL ASA (Registrant) — By: | ___/s/ Torgrim Reitan Name: Torgrim Reitan Title: Chief Financial Officer |
|---|---|---|