STATOILHYDRO ASA
			Symbol			STO

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Statoil: Third quarter Operating and Financial Review

2009-11-04 02:06 ET - News Release

STAVANGER, NORWAY -- (MARKET WIRE) -- 11/04/09

CONSISTENT DELIVERIES

Statoil's (OSE:STL, NYSE:STO) third quarter 2009 net operating income was NOK 28.3 billion, compared to NOK 47.0 billion in the third quarter of 2008. The quarterly result was mainly affected by a 31% drop in oil prices and a 32% decrease in the average price of natural gas.

Adjusted earnings in the third quarter 2009 were NOK 31.2 billion.

Net income in the third quarter of 2009 was NOK 6.6 billion and was mostly influenced by lower crude oil and gas prices and a gain on financial items.

Adjusted earnings after tax was NOK 9.3 billion in the third quarter of 2009. Adjusted earnings after tax excludes the effect of tax on net financial items, and represents an effective adjusted tax rate of 70% in the third quarter of 2009.

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