Statoil reports rise in quarterly income

Norwegian oil and gas company Statoil has reported a net operating income of NOK39.6bn (£4.4bn) in the first quarter of 2010, an 11 per cent increase compared to NOK35.5bn in the first quarter of 2009.

The quarterly result was mainly affected by a 48 per cent increase in liquids prices measured in NOK and a 35 per cent decrease in gas prices.