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StatoilHydro: Shutdowns to cut 100,000 bpd in Q3

Tue May 13, 2008 7:56am EDT
 
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OSLO, May 13 (Reuters) - Norway's StatoilHydro (STL.OL: Quote, Profile, Research, Stock Buzz) expects maintenance shutdowns in the third quarter to reduce production by about 100,000 barrels per day, the company's chief financial officer said on Tuesday.

"We expect oil-related maintenance of approximately 55,000 barrels per day in the second quarter and 100,000 barrels per day in the third," Chief Financial Officer Eldar Saetre said in a presentation of the group's first-quarter results.

StatoilHydro reported better-than-forecast first-quarter results on Tuesday, with record oil prices and a 4.4 percent rise in oil and gas output offset rising production costs. (Reporting by Wojciech Moskwa)

 

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