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Output worry wipes $11billion off Statoil shares

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Output worry wipes $11billion off Statoil shares

Unread postby KevO » Sun 09 Dec 2007, 19:37:17

which is quite a lot of hospitals


$this->bbcode_second_pass_quote('', 'S')hares in Norwegian energy giant Statoil Hydro have fallen 11% after it said a series of problems will see it miss production targets.

Difficulties at several gas fields will keep output below the firm's previous target of 1.735 million boe (barrels of oil equivalent) a day this year.
Analysts expressed dismay at the news, having expected production to increase by up to 10% next year, and the firm's shares fell 11% on the Oslo Stock Exchange.

"This is quite disappointing. The production volume is lower but investment and exploration costs are higher than expected," said Kjetil Bakken, an analyst with Fondfinans.


http://news.bbc.co.uk/1/hi/business/7133919.stm
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Re: Output worry wipes $11billion off Statoil shares

Unread postby AirlinePilot » Mon 10 Dec 2007, 01:49:59

"Analysts expressed dismay at the news"

HAHAHAHHHA HAHA HAHAHHAHAAAHAHHHAHAAAAAA!!!!!!!!!!!!!!

I'm laughing so hard I'm crying.
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