| Statoil is still “investing a lot” in the sector, according to the Norwegian oil giant’s chief financial officer, but it is planning for oil to stay around $50 a barrel until 2018. “We think that 2018 might be the year when we see a rebound (in oil prices) and that is taken into account in our planning assumptions,” Hans Jakob Hegge, chief financial officer of Statoil, told CNBC Europe’s “Squawk Box” Monday.
“In February this year we had the capital markets update and we looked at (assumptions of) $60, $70 and $80 (per barrel) for the years 2016, 2017 and 2018 and now some peers are talking about looking at (assumptions of) $50 a barrel so we’ll do another update in the new year.”..............................................Full Article: Source
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