StatoilHydro Profit Almost Wiped Out

Wednesday, August 05, 2009

According to an August 4 report from Bloomberg, StatoilHydro ASA, the world’s largest offshore oil and gas operator, said profit was almost wiped out in the second quarter as the global recession sapped fuel demand, denting prices for crude and natural gas. Net income fell to $12.8m the Stavanger, Norway-based company said.

(Bloomberg)

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