Important factors affecting this year's financial results.
- High levels of regularity and security maintained for production facilities and transport systems, despite a serious fire on Sleipner A
- Five per cent increase in proven oil and gas reserves, compared to the 1997 figures. Oil reserves have risen by 18 per cent
- Entitlement production up by 20 000 boe/day to 608 000 boe/day, despite a three per cent decrease in production off Norway
- A 33 per cent fall in the average crude oil price from 1997 reduced pre-tax profits by NOK 6 bn
- Write-downs and other charges to profits added up to NOK 4 bn in 1998
- Exploration costs rose by NOK 1 bn in 1998
- Weak markets for the shipping, petrochemicals, refining and retailing businesses
- Poor results from marketing of electricity and trading with crude oil and refined products, with the value of oil stocks also falling
- Restructuring of businesses, including disposal of operations in Thailand
