Statoil makes surprising Q3 net loss

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Norwegian energy firm Statoil reported an unexpected third-quarter net loss on Wednesday, weighed down by a string of impairment charges on projects from Canada to Angola.

Statoil made a net loss of 4.8 billion Norwegian krona against a 13.7 billion krona profit a year ago and well below expectations for a 9.5 billion krona net profit.

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"These charges were mainly related to an impairment of the Kai Kos Dehseh asset in Canada, triggered by the postponement of the Corner field development, as well as impairments of exploration assets in the Gulf of Mexico and Angola," Statoil said.

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