Updated Thursday, November 5, 2009 11:21 am TWN, AP

Norway's Statoil reports 5 percent uptick in profit

OSLO -- Norwegian oil company Statoil ASA has posted a 5 percent jump in third-quarter profits, saying gains on currency values helped offset the effects of sagging oil and gas prices. The state-controlled oil concern said Wednesday that net profit for the July through September period inched up to 6.6 billion kroner (US$1.1 billion) from 6.3 billion kroner in 2008.

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