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| A Pro-US President |
 FRANCE is glad to be rid of
Nicolas Sarkozy, who lost the
country's presidency in a runoff
election this weekend to the
Socialist candidate, Francois
Hollande. He was ineffective in office
and prone to gaffes in public.
But the French will miss him more
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| MANDATE FOR
CHANGE IN EUROPE |
 THE French are revolting.
The Greeks, too. And it's
about time. Both countries
held elections on Sunday
that were in effect referendums
on the current European
economic strategy, and in both
countries voters turned two
thumbs down.
It's far from clear how soon the
votes will lead to changes ... |
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Statoil’s profit falls 5.4% in first quarter
AFP
OSLO
NORWEGIAN state oil group Statoil reported surprisingly strong quarterly profits on Tuesday on robust production figures even though net profit fell slightly.
Net profit for the first quarter of the year was 15.1 billion kroner (2 billion euros, $2.6 billion) a fall of 5.4 percent from the figure of 16 billion kroner at the same time last year. The fall reflected a boost to the figures last year from a capital gain, and an increased tax charge this year.
The group produced 2.193 million barrels of oil equivalent per day, an increase of 11.3 percent, and has a target of exceeding 2.5 million barrels in 2020. Statoil has just signed an ambitious cooperation agreement with the leading Russian oil group Rosneft to gain access to vast areas of Russian off-shore waters.
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