February 7, 2018 / 3:34 PM / 8 months ago

Statoil forecasts U.S. operations to generate $5 bln net cash flow 2018-2020

LONDON, Feb 7 (Reuters) - Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday.

"As oil prices increase there is a significant potential for both earnings and cash flow here, and at (WTI) $70 a barrel oil, the U.S. business will add $5 billion in surplus cash," he told Reuters after Statoil's fourth-quarter results presentation. (Reporting by Nerijus Adomaitis; editing by Alexander Smith)

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