Statoil CEO Sees Oil at $80 by 2018


OSLO, July 28 (Reuters) – Statoil's Chief Executive said on Tuesday he saw crude oil prices climbing to $80 a barrel by 2018 and repeated the price levels at which the company would have the necessary cashflow to pay out future dividends.

"We think there will be some time before we will see a balanced market. But we have also been clear about our expectation for the oil price to rise again and we have indicated around $80 before 2018," Statoil CEO Eldar Saetre said.

Statoil has said before oil prices need to be at $100 a barrel in 2016, at $80 in 2017 and $60 in 2018 for the company to have the free cashflow to maintain a dividend payment.

(Reporting by Sabina Zawadzki, editing by Stine Jacobsen)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Orlando, FL
Project Manager
Expertise: Engineering Manager|Project Engineer
Location: Chicago, IL
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours