Statoil's CEO Sees Oil Rebalancing in 2H of 2017

The transcript covers discussions on CapEx plans, market dynamics, oil price trends, and market rebalancing. It highlights the importance of efficiency and technological improvements in the industry. The Snore expansion project and its economic benefits are discussed, along with the potential impact of the Saudi Aramco IPO on the oil industry.

What is the expected production growth rate until 2020 according to the company's CapEx plans?

• 5%

• 4%

• 3%

• 2%

What was the oil price on WTI mentioned in the discussion about market rebalancing?

• $20

• $35

• $47.70

• $60

What is one of the main focuses for the industry to improve efficiency?

• Standardizing business processes

• Reducing technology use

• Expanding physical infrastructure

• Increasing workforce

What is the break-even price mentioned for the US weather project?

• $30 per barrel

• $20 per barrel

• $25 per barrel

• $15 per barrel

What is the company's current production cost per barrel?

• $30

• $22

• $27

• $25

What type of project has the Snore expansion turned into?

• Refinery upgrade

• Onshore facility

• Offshore drilling

• Subsea project

How is the Saudi Aramco IPO expected to impact the oil industry?

• Major impact on global oil prices

• No significant impact

• Decrease in oil demand

• Increase in oil production