Norwegian state-controlled Statoil on Wednesday posted a strong operational first quarter, lifted by record overseas production and higher oil and gas prices, and predicted that total petroleum output for the current year would be 1%-2% above the 2017 level. The Stavanger-based group delivered equity production of 2.18 million barrels of oil equivalent per day during the period, up 2% from 2.146 million boe/d in Q1 last year. The company said the increase was primarily due to higher production in the US, and added that the underlying production growth for the group was more than 2% compared with Q1 2017. The group said the average invoiced European natural gas sales price increased by 26% year on year in Q1, mainly due to higher demand as a result of periods of cold weather in Europe and the UK. It said the average invoiced North American piped gas sales price increased by […]