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Report of foreign issuer [Rules 13a-16 and 15d-16]

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File Number 1-15200

Statoil ASA

(Translation of registrant’s name into English)

FORUSBEEN 50, N-4035, STAVANGER, NORWAY

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_____

This Report on Form 6-K shall be deemed to be filed and incorporated by reference in the Registration Statements on Form F-3 (File No. 333-188327) and Form S-8 (File No. 333-168426) and to be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

This document includes portions from the previously published results announcement of Statoil ASA as of, and for the first quarter ended, 31 March 2016, as revised to comply with the requirements of Item 10(e) of Regulation S-K regarding non-GAAP financial information promulgated by the U.S. Securities and Exchange Commission. For more information on our use of non-GAAP financial measures in this report, see the section entitled "Use and Reconciliation of Non-GAAP Financial Measures". This document does not update or otherwise supplement the information contained in the previously published results announcement.

Statoil reports net operating income of USD 1,060 million in the first quarter of 2016.

· Strong operational performance - financial results affected by low price environment

· Continuing to capture cost reductions and efficiency gains

· Maintaining competitive capital distribution of USD 0.2201 per share

“Our financial results were affected by low oil and gas prices in the quarter. We delivered strong operational performance across all business areas, high production efficiency and results in line with expectations from liquids trading and refining. The guidance for 2016 is maintained,” says Eldar Sætre, President and CEO of Statoil ASA.

“The industry is facing challenges. However, I am pleased to see progress consistent with the priorities we presented in February. We have a firm plan to improve efficiency and make faster and deeper cost reductions. We are radically improving our project break evens and we are on track to re-set costs and thereby impact the parameters that we can control”, says Sætre.

Net operating income was USD 1,060 million in the first quarter compared to negative USD 3,303 million in the same period in 2015. The increase was mainly due to lower depreciation, amortisation and net impairment losses, good operational performance and reduced underlying operating costs, partially offset by significantly lower liquids and gas prices.

Net income was USD 611 million in the first quarter compared to a net loss of USD 4,571 million in the same period of 2015. Net impairment reversals of USD 308 million before tax in the first quarter of 2016 positively impacted net income, compared to net impairment charges of USD 5,935 million before tax in the same period last year.

Statoil delivered equity production of 2,054 mboe per day in the first quarter. The underlying production growth in the quarter, after adjusting for divestments, was 2% compared to the first quarter last year. Production from the Norwegian continental shelf (NCS) grew 2% in the first quarter of 2016 compared to last year, adjusted for divestments. Equity production outside of Norway was 734 mboe per day, in line with the first quarter last year, adjusted for transactions.

In the first quarter Statoil made two small discoveries on the NCS. As of 31 March 2016, Statoil had completed seven wells, with four wells on-going. Exploration expenses in the quarter were USD 351 million, down from USD 1,721 million in the first quarter of 2015.

Cash flow from operations amounted to USD 2,205 million in the first quarter compared to USD 3,740 million in the same period last year. In light of the low liquids and gas prices in the quarter, Statoil maintained a strong capital structure, and net debt to capital employed at the end of the quarter was 28.1%. Organic capital expenditure was USD 2.4 billion in the first three months of 2016.

The board of directors has decided to pay a dividend of USD 0.2201 per ordinary share for the first quarter. Subject to approval of the proposed scrip dividend programme at the annual general meeting on 11 May 2016, shareholders will get the option to receive the dividend for the first quarter in newly issued shares in Statoil at a 5% discount. Further information on the scrip dividend programme for the first quarter will be published in due course.

The serious incidents frequency indicator was revised as from 2016, and caters now for Safety and Security incidents with an actual serious consequence. The twelve month average Actual Serious incident frequency (Actual SIF) was 0.21 per 31 March 2016, compared to 0.20 in the same period last year.

Quarters

Change

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Net operating income (USD million)

1,060

152

(3,303)

N/A

Net income (USD million)

611

(1,122)

(4,571)

N/A

Total equity liquids and gas production (mboe per day) [4]

2,054

2,046

2,056

(0%)

Group average liquids price (USD/bbl) [1]

29

38

47

(39%)

Key events since fourth quarter 2015:

· Drilling of the first of a total of 35 wells for the first phase of the Johan Sverdrup field development commenced early March

· Statoil announced the acquisition of 11.93% of the shares and votes in Lundin Petroleum, increasing Statoil’s exposure to core field development projects and growth assets on NCS, including Johan Sverdrup and Edvard Grieg

· In the Awards in Predefined Areas (APA) round 2015, Statoil was awarded interest in 24 licences on the NCS, the highest number of licences since 2005

· In April, Statoil entered the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm, providing renewable energy for up to 400,000 households in Germany

Condensed income statement under IFRS

Quarters

Change

(unaudited, in USD million)

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Total revenues and other income

10,115

13,093

15,513

(35%)

Purchases [net of inventory variation]

(4,170)

(5,974)

(6,586)

(37%)

Operating and administrative expenses

(2,495)

(2,516)

(3,172)

(21%)

Depreciation, amortisation and net impairment losses

(2,039)

(3,972)

(7,338)

(72%)

Exploration expenses

(351)

(480)

(1,721)

(80%)

Net operating income

1,060

152

(3,303)

N/A

Net financial items

625

(625)

173

>100%

Income before tax

1,685

(473)

(3,129)

N/A

Income tax

(1,074)

(649)

(1,441)

(25%)

Net income

611

(1,122)

(4,571)

N/A

Income statement under IFRS

Quarters

Change

(in USD million)

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Total revenues and other income

3,338

4,087

4,786

(30%)

Operating and administrative expenses

(717)

(600)

(1,016)

(29%)

Depreciation, amortisation and net impairment losses

(1,228)

(1,666)

(1,569)

(22%)

Exploration expenses

(69)

(117)

(154)

(55%)

Net operating income

1,325

1,704

2,047

(35%)

Income statement under IFRS

Quarters

Change

(in USD million)

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Total revenues and other income

1,139

1,209

1,964

(42%)

Operating and administrative expenses

(626)

(702)

(888)

(30%)

Depreciation, amortisation and net impairment losses

(702)

(2,168)

(5,641)

(88%)

Exploration expenses

(282)

(363)

(1,567)

(82%)

Net operating income

(473)

(2,031)

(6,134)

92%

Income statement under IFRS

Quarters

Change

(in USD million)

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Total revenues and other income

9,934

13,091

15,442

(36%)

Purchases [net of inventory variation] [6]

(8,485)

(11,362)

(13,301)

(36%)

Operating and administrative expenses

(1,073)

(1,157)

(1,218)

(12%)

Depreciation, amortisation and net impairment losses

(73)

(98)

(92)

(21%)

Net operating income

303

474

831

(64%)

Quarters

Full year

(unaudited, in USD million)

Q1 2016

Q4 2015

Q1 2015

2015

Revenues

10,087

12,809

15,404

57,900

Net income from equity accounted investments

20

(35)

39

(29)

Other income

8

320

70

1,770

Total revenues and other income

10,115

13,093

15,513

59,642

Purchases [net of inventory variation]

(4,170)

(5,974)

(6,586)

(26,254)

Operating expenses

(2,247)

(2,246)

(2,928)

(10,512)

Selling, general and administrative expenses

(247)

(270)

(244)

(921)

Depreciation, amortisation and net impairment losses

(2,039)

(3,972)

(7,338)

(16,715)

Exploration expenses

(351)

(480)

(1,721)

(3,872)

Net operating income

1,060

152

(3,303)

1,366

Net financial items

625

(625)

173

(1,311)

Income before tax

1,685

(473)

(3,129)

55

Income tax

(1,074)

(649)

(1,441)

(5,225)

Net income

611

(1,122)

(4,571)

(5,169)

Attributable to equity holders of the company

607

(1,126)

(4,578)

(5,192)

Attributable to non-controlling interests

4

4

8

22

Basic earnings per share (in USD)

0.19

(0.35)

(1.44)

(1.63)

Diluted earnings per share (in USD)

0.19

(0.35)

(1.44)

(1.63)

Weighted average number of ordinary shares outstanding (in millions)

3,180

3,178

3,180

3,179

Quarters

Full year

(unaudited, in USD million)

Q1 2016

Q4 2015

Q1 2015

2015

Net income

611

(1,122)

(4,571)

(5,169)

Actuarial gain (loss) on defined benefit pension plans

(221)

1,013

359

1,599

Income tax effect on income and expenses recognised in OCI

60

(290)

(101)

(461)

Items that will not be reclassified to the Consolidated statement of income

(161)

722

258

1,138

Currency translation adjustments

1,357

(656)

(2,266)

(3,976)

Net gain (loss) from available for sale financial assets

89

0

0

0

Items that may be subsequently reclassified to the Consolidated statement of income

1,445

(656)

(2,266)

(3,976)

Other comprehensive income

1,284

66

(2,008)

(2,838)

Total comprehensive income

1,895

(1,056)

(6,578)

(8,007)

Attributable to the equity holders of the company

1,891

(1,060)

(6,586)

(8,030)

Attributable to non-controlling interests

4

4

8

22

At 31 March

At 31 December

At 31 March

At 31 December

(unaudited, in USD million)

2016

2015

2015

2014

ASSETS

Property, plant and equipment

64,576

62,006

68,571

75,619

Intangible assets

9,494

9,452

9,447

11,458

Equity accounted investments

835

824

1,465

1,127

Deferred tax assets

1,775

2,022

2,037

1,732

Pension assets

1,242

1,284

916

1,072

Derivative financial instruments

3,294

2,697

3,557

4,023

Financial investments

3,037

2,336

2,364

2,634

Prepayments and financial receivables

849

967

971

766

Total non-current assets

85,102

81,588

89,328

98,430

Inventories

2,594

2,502

3,029

3,193

Trade and other receivables

6,868

6,671

9,699

11,212

Derivative financial instruments

407

542

844

717

Financial investments

9,292

9,817

12,110

7,968

Cash and cash equivalents

8,540

8,623

8,657

11,182

Total current assets

27,700

28,154

34,338

34,272

Total assets

112,802

109,742

123,666

132,702

EQUITY AND LIABILITIES

Shareholders' equity

42,162

40,271

44,643

51,225

Non-controlling interests

36

36

53

57

Total equity

42,198

40,307

44,696

51,282

Finance debt

30,210

29,965

30,930

27,593

Deferred tax liabilities

7,553

7,421

8,259

9,613

Pension liabilities

3,213

2,979

3,486

3,752

Provisions

13,192

12,422

15,389

15,766

Derivative financial instruments

935

1,285

993

611

Total non-current liabilities

55,105

54,073

59,057

57,335

Trade and other payables

9,003

9,333

11,896

13,545

Current tax payable

3,151

2,740

5,532

5,321

Finance debt

2,796

2,326

2,306

3,561

Dividends payable

0

700

0

770

Derivative financial instruments

550

264

178

887

Total current liabilities

15,499

15,363

19,913

24,085

Total liabilities

70,604

69,436

78,970

81,420

Total equity and liabilities

112,802

109,743

123,666

132,702

(unaudited, in USD million)

Share capital

Additional paid-in capital

Retained earnings

Currency translation adjustments

Available for sale financial assets

Shareholders' equity

Non-controlling interests

Total equity

At 31 December 2014

1,139

5,714

45,677

(1,305)

(0)

51,225

57

51,282

Net income for the period

(4,578)

(4,578)

8

(4,571)

Other comprehensive income

258

(2,266)

0

(2,008)

(2,008)

Total comprehensive income

(6,578)

Dividends

1

1

1

Other equity transactions

2

0

2

(11)

(9)

At 31 March 2015

1,139

5,717

41,358

(3,571)

(0)

44,643

53

44,696

At 31 December 2015

1,139

5,720

38,693

(5,281)

(0)

40,271

36

40,307

Net income for the period

607

607

4

611

Other comprehensive income

(161)

1,357

89

1,284

1,284

Total comprehensive income

1,895

Dividends

0

0

0

Other equity transactions

1

(0)

0

(5)

(5)

At 31 March 2016

1,139

5,720

39,138

(3,924)

89

42,162

36

42,198

Quarters

Full year

(unaudited, in USD million)

Q1 2016

Q4 2015

Q1 2015

2015

Income before tax

1,685

(473)

(3,129)

55

Depreciation, amortisation and net impairment losses

2,039

3,972

7,338

16,715

Exploration expenditures written off

142

(108)

1,423

2,164

(Gains) losses on foreign currency transactions and balances

(614)

424

447

1,166

(Gains) losses on sales of assets and businesses

(5)

(301)

(59)

(1,716)

(Increase) decrease in other items related to operating activities

712

367

(299)

558

(Increase) decrease in net derivative financial instruments

(526)

262

12

1,551

Interest received

68

81

114

363

Interest paid

(115)

(137)

(81)

(443)

Cash flows provided by operating activities before taxes paid and working capital items

3,386

4,087

5,765

20,414

Taxes paid

(743)

(2,226)

(1,671)

(8,078)

(Increase) decrease in working capital 1)

(438)

357

(354)

1,292

Cash flows provided by operating activities

2,205

2,218

3,740

13,628

Additions through business combinations

0

(398)

0

(398)

Capital expenditures and investments

(2,821)

(3,214)

(3,963)

(15,518)

(Increase) decrease in financial investments

451

2,810

(4,857)

(2,813)

(Increase) decrease in other non-current items

23

(136)

1

(22)

Proceeds from sale of assets and businesses

10

690

481

4,249

Cash flows used in investing activities

(2,337)

(248)

(8,338)

(14,501)

New finance debt

0

9

4,262

4,272

Repayment of finance debt

(3)

(11)

(1,427)

(1,464)

Dividend paid

(697)

(658)

(757)

(2,836)

Net current finance debt and other

452

(224)

665

(701)

Cash flows provided by (used in) financing activities

(248)

(884)

2,742

(729)

Net increase (decrease) in cash and cash equivalents

(379)

1,086

(1,856)

(1,602)

Effect of exchange rate changes on cash and cash equivalents

296

(194)

(580)

(871)

Cash and cash equivalents at the beginning of the period (net of overdraft)

8,613

7,721

11,085

11,085

Cash and cash equivalents at the end of the period (net of overdraft) 2)

8,530

8,613

8,650

8,613

First quarter 2016

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(in USD million)

Revenues third party and other income

22

137

9,909

27

0

10,095

Revenues inter-segment

3,317

1,000

12

(2)

(4,327)

0

Net income from equity accounted investments

0

2

13

5

0

20

Total revenues and other income

3,338

1,139

9,934

31

(4,327)

10,115

Purchases [net of inventory variation]

0

(3)

(8,485)

(0)

4,318

(4,170)

Operating and SG&A expenses

(717)

(626)

(1,073)

(103)

24

(2,495)

Depreciation, amortisation and net impairment losses

(1,228)

(702)

(73)

(37)

0

(2,039)

Exploration expenses

(69)

(282)

0

0

0

(351)

Net operating income

1,325

(473)

303

(108)

14

1,060

Additions to PP&E, intangibles and equity accounted investments

1,234

1,016

118

115

0

2,482

Balance sheet information

Equity accounted investments

6

437

123

269

0

835

Non-current segment assets

29,631

39,264

4,414

761

0

74,070

Non-current assets, not allocated to segments

10,197

Total non-current assets

85,102

First quarter 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(in USD million)

Revenues third party and other income

(274)

303

15,356

90

0

15,474

Revenues inter-segment

5,057

1,648

60

0

(6,765)

0

Net income from equity accounted investments

3

13

27

(4)

0

39

Total revenues and other income

4,786

1,964

15,442

86

(6,765)

15,513

Purchases [net of inventory variation]

(0)

(1)

(13,301)

(0)

6,716

(6,586)

Operating and SG&A expenses

(1,016)

(888)

(1,218)

(100)

50

(3,172)

Depreciation, amortisation and net impairment losses

(1,569)

(5,641)

(92)

(35)

0

(7,338)

Exploration expenses

(154)

(1,567)

(0)

0

0

(1,721)

Net operating income

2,047

(6,134)

831

(49)

2

(3,303)

Additions to PP&E, intangibles and equity accounted investments

1,630

2,231

212

13

0

4,086

Balance sheet information

Equity accounted investments

33

655

764

14

0

1,465

Non-current segment assets

32,692

39,445

5,240

642

0

78,018

Non-current assets, not allocated to segments

9,844

Total non-current assets

89,328

Non-current assets by country

At 31 March

At 31 December

At 31 March

(in USD million)

2016

2015

2015

Norway

33,396

31,487

36,198

US

20,594

20,531

19,490

Angola

5,203

5,350

6,668

Brazil

3,483

3,474

3,885

UK

3,227

2,883

2,303

Canada

2,495

2,270

2,286

Algeria

1,454

1,435

1,590

Azerbaijan

1,398

1,416

3,375

Other countries

3,655

3,435

3,688

Total non-current assets 1)

74,905

72,282

79,484

Quarters

Full year

(in USD million)

Q1 2016

Q4 2015

Q1 2015

2015

Net foreign exchange gains (losses)

8

(249)

32

(245)

Interest income and other financial items

48

137

171

396

Gains (losses) derivative financial instruments

824

(268)

208

(491)

Interest and other finance expenses

(255)

(246)

(238)

(971)

Net financial items

625

(625)

173

(1,311)

Quarters

Full year

(in USD million)

Q1 2016

Q4 2015

Q1 2015

2015

Income before tax

1,685

(473)

(3,129)

55

Income tax

(1,074)

(649)

(1,441)

(5,225)

Equivalent to a tax rate of

63.7%

>(100%)

(46.1%)

>100%

(in USD million)

Property, plant and equipment

Intangible assets

Balance at 31 December 2015

62,006

9,452

Additions

2,506

137

Transfers

47

(47)

Disposals and reclassifications

(1)

(2)

Expensed exploration expenditures and impairment losses

0

(142)

Depreciation, amortisation and net impairment losses

(2,036)

(3)

Effect of foreign currency translation adjustments

2,054

99

Balance at 31 March 2016

64,576

9,494

First quarter 2016

Property, plant and equipment

Intangible assets

Total

(in USD million)

Producing and development assets

(379)

(14)

(393)

Acquisition costs related to oil and gas prospects

0

84

84

Total net impairment losses/(reversals) recognised

(379)

71

(308)

(unaudited)

Historical Consolidated financial statements in NOK billion

Historical Consolidated financial statements in USD million 1)

Re-presentation in USD million

Consolidated financial statements in USD million

31 December, 2014

Share capital

8.0

1,072

67

1,139

Additional paid-in capital

40.2

5,408

306

5,714

Retained earnings

268.4

36,097

9,580

45,677

Currency translation adjustments

64.3

8,650

(9,955)

(1,305)

Non-controlling interests

0.4

54

3

57

Total equity

381.2

51,282

0

51,282

1) Translated at exchange rate NOK 7,4332 : USD 1 as of 31 December 2014.

(unaudited)

Historical Consolidated financial statements in NOK billion

Historical Consolidated financial statements in USD million 1)

Re-presentation in USD million

Consolidated financial statements in USD million

31 December, 2015

Share capital

8.0

905

234

1,139

Additional paid-in capital

40.1

4,552

1,168

5,720

Retained earnings

215.1

24,417

14,276

38,693

Currency translation adjustments

91.6

10,398

(15,679)

(5,281)

Non-controlling interests

0.3

34

2

36

Total equity

355.1

40,307

0

40,307

1) Translated at exchange rate NOK 8,8090 : USD 1 as of 31 December 2015.

(unaudited)

Historical Consolidated financial statements in NOK billion

Historical Consolidated financial statements in USD million 1)

Re-presentation in USD million

Consolidated financial statements in USD million

Net income

Full year 2014

22

3,831

56

3,887

Q4 2015

(9)

(1,074)

(48)

(1,122)

Q3 2015

(3)

(341)

(2)

(343)

Q2 2015

10

1,299

(433)

866

Q1 2015

(35)

(4,568)

(2)

(4,571)

Full year 2015

(37)

(4,684)

(485)

(5,169)

Quarters

Full year

Q1 2015

Q2 2015

Q3 2015

Q4 2015

(unaudited, in USD million)

2015

2014

15,404

16,041

13,647

12,809

Revenues

57,900

96,708

39

28

(60)

(35)

Net income from equity accounted investments

(29)

(34)

70

1,353

27

320

Other income

1,770

2,590

15,513

17,422

13,614

13,093

Total revenues and other income

59,642

99,264

(6,586)

(7,307)

(6,388)

(5,974)

Purchases [net of inventory variation]

(26,254)

(47,980)

(2,928)

(2,733)

(2,605)

(2,246)

Operating expenses

(10,512)

(11,657)

(244)

(189)

(219)

(270)

Selling, general and administrative expenses

(921)

(1,159)

(7,338)

(3,087)

(2,319)

(3,972)

Depreciation, amortisation and net impairment losses

(16,715)

(15,925)

(1,721)

(471)

(1,201)

(480)

Exploration expenses

(3,872)

(4,666)

(3,303)

3,635

883

152

Net operating income

1,366

17,878

173

(940)

80

(625)

Net financial items

(1,311)

20

(3,129)

2,695

963

(473)

Income before tax

55

17,898

(1,441)

(1,829)

(1,306)

(649)

Income tax

(5,225)

(14,011)

(4,571)

866

(343)

(1,122)

Net income

(5,169)

3,887

(4,578)

861

(348)

(1,126)

Attributable to equity holders of the company

(5,192)

3,871

8

5

5

4

Attributable to non-controlling interests

22

16

(1.44)

0.27

(0.11)

(0.35)

Basic earnings per share (in USD)

(1.63)

1.22

(1.44)

0.27

(0.11)

(0.35)

Diluted earnings per share (in USD)

(1.63)

1.21

3,180

3,180

3,179

3,178

Weighted average number of ordinary shares outstanding (in millions)

3,179

3,180

Quarters

Full year

Q1 2015

Q2 2015

Q3 2015

Q4 2015

(unaudited, in USD million)

2015

2014

(4,571)

866

(343)

(1,122)

Net income

(5,169)

3,887

359

240

(13)

1,013

Actuarial gain (loss) on defined benefit pension plans

1,599

636

(101)

(64)

(6)

(290)

Income tax effect on income and expenses recognised in OCI

(461)

(56)

258

176

(19)

722

Items that will not be reclassified to the Consolidated statement of income

1,138

580

(2,266)

833

(1,887)

(656)

Currency translation adjustments

(3,976)

(5,167)

(2,266)

833

(1,887)

(656)

Items that may be subsequently reclassified to the Consolidated statement of income

(3,976)

(5,167)

(2,008)

1,009

(1,905)

66

Other comprehensive income

(2,838)

(4,587)

(6,578)

1,875

(2,248)

(1,056)

Total comprehensive income

(8,007)

(701)

(6,586)

1,870

(2,253)

(1,060)

Attributable to the equity holders of the company

(8,030)

(717)

8

5

5

4

Attributable to non-controlling interests

22

16

At 30 September

At 30 June

At 31 March

At 31 December

At 31 December

At 31 December

2015

2015

2015

(unaudited, in USD million)

2015

2014

2013

ASSETS

65,846

67,305

68,571

Property, plant and equipment

62,006

75,619

80,115

8,969

9,838

9,447

Intangible assets

9,452

11,458

15,039

1,083

1,196

1,465

Equity accounted investments

824

1,127

1,218

1,708

1,540

2,037

Deferred tax assets

2,022

1,732

1,355

721

1,045

916

Pension assets

1,284

1,072

863

2,931

2,786

3,557

Derivative financial instruments

2,697

4,023

3,625

2,310

2,285

2,364

Financial investments

2,336

2,634

2,703

910

928

971

Prepayments and financial receivables

967

766

1,402

84,477

86,924

89,328

Total non-current assets

81,588

98,430

106,321

2,855

3,362

3,029

Inventories

2,502

3,193

4,861

7,369

9,505

9,699

Trade and other receivables

6,671

11,212

13,452

388

456

844

Derivative financial instruments

542

717

476

12,948

13,658

12,110

Financial investments

9,817

7,968

6,446

7,722

7,003

8,657

Cash and cash equivalents

8,623

11,182

14,016

31,283

33,983

34,338

Total current assets

28,154

34,272

39,251

115,760

120,907

123,666

Total assets

109,742

132,702

145,572

EQUITY AND LIABILITIES

42,028

44,980

44,643

Shareholders' equity

40,271

51,225

58,432

40

48

53

Non-controlling interests

36

57

81

42,068

45,029

44,696

Total equity

40,307

51,282

58,513

31,082

31,194

30,930

Finance debt

29,965

27,593

27,197

7,789

8,366

8,259

Deferred tax liabilities

7,421

9,613

11,672

3,244

3,401

3,486

Pension liabilities

2,979

3,752

3,666

14,214

14,412

15,389

Provisions

12,422

15,766

16,722

1,041

1,076

993

Derivative financial instruments

1,285

611

366

57,369

58,449

59,057

Total non-current liabilities

54,073

57,335

59,622

9,915

11,130

11,896

Trade and other payables

9,333

13,545

15,712

3,740

3,842

5,532

Current tax payable

2,740

5,321

8,678

1,667

1,344

2,306

Finance debt

2,326

3,561

2,806

674

728

0

Dividends payable

700

770

0

327

386

178

Derivative financial instruments

264

887

241

16,323

17,430

19,913

Total current liabilities

15,363

24,085

27,437

73,692

75,879

78,970

Total liabilities

69,436

81,420

87,059

115,760

120,907

123,666

Total equity and liabilities

109,743

132,702

145,572

(unaudited, in USD million)

Share capital

Additional paid-in capital

Retained earnings

Currency translation adjustments

Shareholders' equity

Non-controlling interests

Total equity

At 31 December 2013

1,139

5,741

47,690

3,863

58,432

81

58,513

Net income for the period

3,871

3,871

16

3,887

Other comprehensive income

580

(5,167)

(4,587)

(4,587)

Dividends

(6,517)

(6,517)

(6,517)

Other equity transactions

(26)

54

27

(39)

(12)

At 31 December 2014

1,139

5,714

45,677

(1,305)

51,225

57

51,282

At 31 December 2014

1,139

5,714

45,677

(1,305)

51,225

57

51,282

Net income for the period

(5,192)

(5,192)

22

(5,169)

Other comprehensive income

1,138

(3,976)

(2,838)

(2,838)

Dividends

(2,930)

(2,930)

(2,930)

Other equity transactions

6

0

6

(43)

(38)

At 31 December 2015

1,139

5,720

38,693

(5,281)

40,271

36

40,307

(unaudited, in USD million)

Share capital

Additional paid-in capital

Retained earnings

Currency translation adjustments

Shareholders' equity

Non-controlling interests

Total equity

At 31 December 2014

1,139

5,714

45,677

(1,305)

51,225

57

51,282

Net income for the period

(4,578)

(4,578)

8

(4,571)

Other comprehensive income

258

(2,266)

(2,008)

(2,008)

Dividends

1

1

1

Other equity transactions

2

-

2

(11)

(9)

At 31 March 2015

1,139

5,717

41,358

(3,571)

44,643

53

44,696

Net income for the period

861

861

5

866

Other comprehensive income

176

833

1,009

1,009

Dividends

(1,532)

(1,532)

(1,532)

Other equity transactions

-

-

-

(10)

(11)

At 30 June 2015

1,139

5,716

40,863

(2,738)

44,980

48

45,029

Net income for the period

(348)

(348)

5

(343)

Other comprehensive income

(19)

(1,887)

(1,905)

(1,905)

Dividends

(700)

(700)

(700)

Other equity transactions

1

-

1

(14)

(12)

At 30 September 2015

1,139

5,718

39,797

(4,625)

42,028

40

42,068

Net income for the period

(1,126)

(1,126)

4

(1,122)

Other comprehensive income

722

(656)

66

66

Dividends

(700)

(700)

(700)

Other equity transactions

2

-

2

(8)

(6)

At 31 December 2015

1,139

5,720

38,693

(5,281)

40,271

36

40,307

Quarters

Full year

Q1 2015

Q2 2015

Q3 2015

Q4 2015

(unaudited, in USD million)

2015

2014

(3,129)

2,695

963

(473)

Income before tax

55

17,898

7,338

3,087

2,319

3,972

Depreciation, amortisation and net impairment losses

16,715

15,925

1,423

(53)

902

(108)

Exploration expenditures written off

2,164

2,097

447

(729)

1,024

424

(Gains) losses on foreign currency transactions and balances

1,166

883

(59)

(1,346)

(9)

(301)

(Gains) losses on sales of assets and businesses

(1,716)

(1,998)

(299)

424

65

367

(Increase) decrease in other items related to operating activities

558

(1,671)

12

1,449

(171)

262

(Increase) decrease in net derivative financial instruments

1,551

254

114

84

84

81

Interest received

363

341

(81)

(134)

(91)

(137)

Interest paid

(443)

(551)

5,765

5,476

5,085

4,087

Cash flows provided by operating activities before taxes paid and working capital items

20,414

33,178

(1,671)

(3,033)

(1,149)

(2,226)

Taxes paid

(8,078)

(15,308)

(354)

94

1,195

357

(Increase) decrease in working capital

1,292

2,335

3,740

2,538

5,132

2,218

Cash flows provided by operating activities

13,628

20,205

0

0

0

(398)

Additions through business combinations

(398)

0

(3,963)

(4,363)

(3,978)

(3,214)

Capital expenditures and investments

(15,518)

(19,497)

(4,857)

(456)

(310)

2,810

(Increase) decrease in financial investments

(2,813)

(1,919)

1

108

6

(136)

(Increase) decrease in other non-current items

(22)

128

481

2,650

429

690

Proceeds from sale of assets and businesses

4,249

3,514

(8,338)

(2,061)

(3,854)

(248)

Cash flows used in investing activities

(14,501)

(17,775)

4,262

2

0

9

New finance debt

4,272

3,010

(1,427)

(18)

(8)

(11)

Repayment of finance debt

(1,464)

(1,537)

(757)

(735)

(687)

(658)

Dividend paid

(2,836)

(5,499)

665

(1,460)

317

(224)

Net current finance debt and other

(701)

(2)

2,742

(2,210)

(378)

(884)

Cash flows provided by (used in) financing activities

(729)

(4,028)

(1,856)

(1,733)

900

1,086

Net increase (decrease) in cash and cash equivalents

(1,602)

(1,598)

(580)

70

(166)

(194)

Effect of exchange rate changes on cash and cash equivalents

(871)

(1,329)

11,085

8,650

6,987

7,721

Cash and cash equivalents at the beginning of the period (net of overdraft)

11,085

14,013

8,649

6,986

7,721

8,613

Cash and cash equivalents at the end of the period (net of overdraft)

8,613

11,085

Fourth quarter 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

150

(117)

13,049

47

0

13,128

Revenues inter-segment

3,937

1,373

39

1

(5,350)

(0)

Net income from equity accounted investments

0

(47)

3

8

0

(35)

Total revenues and other income

4,087

1,209

13,091

57

(5,350)

13,093

Purchases [net of inventory variation]

(0)

(8)

(11,362)

(0)

5,396

(5,974)

Operating and SG&A expenses

(600)

(702)

(1,157)

(103)

45

(2,516)

Depreciation, amortisation and net impairment losses

(1,666)

(2,168)

(98)

(40)

0

(3,972)

Exploration expenses

(117)

(363)

0

0

0

(480)

Net operating income

1,704

(2,031)

474

(87)

92

152

Additions to PP&E, intangibles and equity accounted investments

1,385

1,946

291

49

0

3,670

Balance sheet information

Equity accounted investments

5

333

214

272

0

824

Non-current segment assets

27,706

37,475

5,588

690

0

71,458

Non-current assets, not allocated to segments

9,305

Total non-current assets

81,588

Third quarter 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

(36)

(114)

13,802

23

0

13,674

Revenues inter-segment

4,093

1,588

37

(1)

(5,718)

0

Net income from equity accounted investments

0

(70)

12

(3)

0

(60)

Total revenues and other income

4,057

1,404

13,851

20

(5,718)

13,614

Purchases [net of inventory variation]

(0)

0

(12,212)

0

5,825

(6,388)

Operating and SG&A expenses

(814)

(917)

(1,047)

(76)

31

(2,823)

Depreciation, amortisation and net impairment losses

(1,419)

(1,249)

383

(35)

0

(2,319)

Exploration expenses

(133)

(1,068)

(0)

0

0

(1,201)

Net operating income

1,690

(1,829)

975

(91)

137

883

Additions to PP&E, intangibles and equity accounted investments

1,518

1,958

137

185

0

3,798

Balance sheet information

Equity accounted investments

5

555

237

285

0

1,083

Non-current segment assets

30,455

38,036

5,554

770

0

74,815

Non-current assets, not allocated to segments

8,579

Total non-current assets

84,477

Second quarter 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

38

1,505

15,662

188

0

17,394

Revenues inter-segment

4,371

2,105

48

0

(6,525)

0

Net income from equity accounted investments

(0)

12

13

3

0

28

Total revenues and other income

4,409

3,623

15,723

191

(6,525)

17,422

Purchases [net of inventory variation]

0

(1)

(13,672)

(0)

6,366

(7,307)

Operating and SG&A expenses

(792)

(884)

(1,243)

(63)

60

(2,922)

Depreciation, amortisation and net impairment losses

(1,725)

(1,174)

(156)

(32)

0

(3,087)

Exploration expenses

(173)

(299)

0

0

0

(471)

Net operating income

1,720

1,265

652

96

(98)

3,635

Additions to PP&E, intangibles and equity accounted investments

1,760

1,985

259

26

0

4,030

Balance sheet information

Equity accounted investments

6

626

550

14

0

1,196

Non-current segment assets

32,718

38,503

5,400

522

0

77,143

Non-current assets, not allocated to segments

8,585

Total non-current assets

86,924

First quarter 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

(274)

303

15,356

90

0

15,474

Revenues inter-segment

5,057

1,648

60

0

(6,765)

0

Net income from equity accounted investments

3

13

27

(4)

0

39

Total revenues and other income

4,786

1,964

15,442

86

(6,765)

15,513

Purchases [net of inventory variation]

(0)

(1)

(13,301)

(0)

6,716

(6,586)

Operating and SG&A expenses

(1,016)

(888)

(1,218)

(100)

50

(3,172)

Depreciation, amortisation and net impairment losses

(1,569)

(5,641)

(92)

(35)

0

(7,338)

Exploration expenses

(154)

(1,567)

(0)

0

0

(1,721)

Net operating income

2,047

(6,134)

831

(49)

2

(3,303)

Additions to PP&E, intangibles and equity accounted investments

1,630

2,231

212

13

0

4,086

Balance sheet information

Equity accounted investments

33

655

764

14

0

1,465

Non-current segment assets

32,692

39,445

5,240

642

0

78,018

Non-current assets, not allocated to segments

9,844

Total non-current assets

89,328

Full year 2015

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

(123)

1,576

57,869

349

0

59,671

Revenues inter-segment

17,459

6,715

183

1

(24,357)

(0)

Net income from equity accounted investments

3

(91)

55

4

0

(29)

Total revenues and other income

17,339

8,200

58,107

354

(24,357)

59,642

Purchases [net of inventory variation]

(0)

(10)

(50,547)

(0)

24,303

(26,254)

Operating and SG&A expenses

(3,223)

(3,391)

(4,664)

(342)

187

(11,433)

Depreciation, amortisation and net impairment losses

(6,379)

(10,231)

37

(142)

0

(16,715)

Exploration expenses

(576)

(3,296)

(0)

0

0

(3,872)

Net operating income

7,161

(8,729)

2,932

(130)

133

1,366

Additions to PP&E, intangibles and equity accounted investments

6,293

8,119

900

273

0

15,584

Balance sheet information

Equity accounted investments

5

333

214

272

0

824

Non-current segment assets

27,706

37,475

5,588

690

0

71,458

Non-current assets, not allocated to segments

9,305

Total non-current assets

81,588

Full year 2014

Development and Production Norway

Development and Production International

Marketing, Midstream and Processing

Other

Eliminations

Total

(unaudited, in USD million)

Income statement

Revenues third party and other income

1,347

3,017

94,814

120

0

99,299

Revenues inter-segment

27,568

10,757

286

1

(38,612)

0

Net income from equity accounted investments

11

(113)

73

(5)

0

(34)

Total revenues and other income

28,926

13,661

95,174

116

(38,612)

99,264

Purchases [net of inventory variation]

(0)

(2)

(86,689)

0

38,711

(47,980)

Operating and SG&A expenses

(4,034)

(3,654)

(5,287)

(161)

321

(12,815)

Depreciation, amortisation and net impairment losses

(6,301)

(8,885)

(583)

(156)

0

(15,925)

Exploration expenses

(838)

(3,824)

(4)

0

0

(4,666)

Net operating income

17,753

(2,703)

2,610

(202)

420

17,878

Additions to PP&E, intangibles and equity accounted investments

8,817

9,750

1,225

132

0

19,924

Balance sheet information

Equity accounted investments

32

640

434

20

0

1,127

Non-current segment assets

35,243

44,912

6,234

688

0

87,077

Non-current assets, not allocated to segments

10,226

Total non-current assets

98,430

OPERATIONAL DATA

Quarters

Change

Operational data

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

Prices

Average Brent oil price (USD/bbl)

33.9

43.8

53.9

(37%)

DPN average liquids price (USD/bbl)

30.7

40.7

50.1

(39%)

DPI average liquids price (USD/bbl)

25.6

35.5

42.7

(40%)

Group average liquids price (USD/bbl)

28.7

38.4

47.0

(39%)

Group average liquids price (NOK/bbl) [1]

248.0

327.7

364.5

(32%)

Transfer price natural gas (USD/mmbtu) [9]

4.00

4.75

5.90

(32%)

Average invoiced gas prices - Europe (USD/mmbtu) [8]

5.45

6.18

7.88

(31%)

Average invoiced gas prices - North America (USD/mmbtu) [8]

2.29

1.99

4.38

(48%)

Refining reference margin (USD/bbl) [2]

4.3

5.7

7.1

(39%)

Entitlement production (mboe per day)

DPN entitlement liquids production

602

610

599

1%

DPI entitlement liquids production

434

463

445

(2%)

Group entitlement liquids production

1,036

1,073

1,044

(1%)

DPN entitlement gas production

719

699

698

3%

DPI entitlement gas production

155

149

136

14%

Group entitlement gas production

873

848

834

5%

Total entitlement liquids and gas production [3]

1,909

1,921

1,878

2%

Equity production (mboe per day)

DPN equity liquids production

602

610

599

1%

DPI equity liquids production

552

569

582

(5%)

Group equity liquids production

1,154

1,179

1,181

(2%)

DPN equity gas production

719

699

698

3%

DPI equity gas production

182

168

177

3%

Group equity gas production

901

867

875

3%

Total equity liquids and gas production [4]

2,054

2,046

2,056

(0%)

MMP sales volumes

Crude oil sales volumes (mmbl)

205.0

209.0

202.0

1%

Natural gas sales Statoil entitlement (bcm)

12.2

11.9

12.1

0%

Natural gas sales third-party volumes (bcm)

2.7

1.7

3.4

(21%)

EXCHANGE RATES

Quarters

Change

Exchange rates

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

NOK/USD average daily exchange rate

0.1156

0.1173

0.1289

(10%)

NOK/USD period-end exchange rate

0.1209

0.1135

0.1236

(2%)

USD/NOK average daily exchange rate

8.6482

8.5273

7.7594

11%

USD/NOK period-end exchange rate

8.2692

8.8090

8.0895

2%

EUR/USD average daily exchange rate

1.1015

1.0948

1.1253

(2%)

EUR/USD period-end exchange rate

1.1385

1.0920

1.0759

6%

EXPLORATION EXPENSES

Exploration expenses

Quarters

Change

(in USD million)

Q1 2016

Q4 2015

Q1 2015

Q1 on Q1

DPN exploration expenditures (activity)

105

136

204

(49%)

DPI exploration expenditures (activity)

239

640

506

(53%)

Group exploration expenditures (activity)

344

776

710

(52%)

Expensed, previously capitalised exploration expenditure

71

23

54

32%

Capitalised share of current period's exploration activity

(135)

(189)

(413)

(67%)

Impairment (reversal of impairment)

71

(131)

1,369

(95%)

Exploration expenses IFRS

351

480

1,721

(80%)

HEALTH, SAFETY AND THE ENVIRONMENT (HSE)

HSE

Quarters

Twelve month average per

Q1 2016

Q1 2015

Total recordable injury frequency (TRIF)

2.7

3.0

Actual serious incident frequency (Actual SIF)

0.21

0.20

Accidental oil spills

139

213

Accidental oil spills (cubic metres)

22

86

Calculation of capital employed and net debt to capital employed ratio

At 31 March

At 31 December

At 31 March

(in USD million)

2016

2015

2015

Shareholders' equity

42,162

40,271

44,643

Non-controlling interests

36

36

53

Total equity

A

42,198

40,307

44,696

Current finance debt

2,796

2,326

2,306

Non-current finance debt

30,210

29,965

30,930

Gross interest-bearing debt

B

33,006

32,291

33,236

Cash and cash equivalents

8,540

8,623

8,657

Current financial investments

9,292

9,817

12,110

Cash and cash equivalents and financial investment

C

17,831

18,440

20,767

Net interest-bearing debt before adjustments [10]

B1 = B-C

15,175

13,852

12,469

Other interest-bearing elements 1)

1,191

1,111

1,142

Marketing instruction adjustment 2)

(211)

(215)

(226)

Adjustment for project loan 3)

-

-

(18)

Net interest-bearing debt adjusted [5]

B2

16,155

14,748

13,366

Normalisation for cash-build up before tax payment (50% of Tax Payment) 4)

345

-

730

Net interest-bearing debt adjusted [5]

B3

16,500

14,748

14,096

Calculation of capital employed [5]:

Capital employed before adjustments to net interest-bearing debt

A+B1

57,373

54,159

57,165

Capital employed before normalisation for cash build up for tax payment

A+B2

58,353

55,055

58,062

Capital employed adjusted

A+B3

58,698

55,055

58,792

Calculated net debt to capital employed [5]:

Net debt to capital employed before adjustments

(B1)/(A+B1)

26.5%

25.6%

21.8%

Net debt to capital employed before normalisation for tax payment

(B2)/(A+B2)

27.7%

26.8%

23.0%

Net debt to capital employed adjusted

(B3)/(A+B3)

28.1%

26.8%

24.0%

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Report of foreign issuer [Rules 13a-16 and 15d-16] - April 27, 2016
Statoil: Stavanger, Norway, April 20, 2016 -- - April 20, 2016
Statoil: Stavanger, Norway, Jan. 21, 2016 (Globe Newswire) -- - April 20, 2016
Statoil: Stavanger, Norway, April 20, 2016 -- - April 20, 2016