Statoil Posts Better-Than-Expected Q4 Profit

Statoil ASA (NYSE: STO ) reported a better-than-expected fourth-quarter profit. Statoil's quarterly net profit declined 49% to 12.98 billion Norwegian kroner ($2.36 billion), or NOK4.07 a share. However, analysts expected a profit of NOK11.94 billion. Statoil's adjusted earnings before interest and tax rose to NOK48.3 billion from NOK45.9 billion, versus estimates