Norway's Statoil Expects to Benefit From U.S. Tax Overhaul

Norwegian oil-and-gas giant Statoil ASA (STL.OS) said Friday it expects to benefit from U.S. corporate-tax overhaul.

The reduction in the U.S. corporate-tax rate from 35% to 21% would be "favorable to our U.S. operations," a spokesman said.

Statoil does not forecast one-off charges to its fourth-quarter earnings as the company hasn't recognized a deferred tax asset for its tax losses carried forward in the U.S., the spokesman said.

The firm is still reviewing the ultimate impact of the tax overhaul, he added.

Write to Nina Trentmann at; @Nina_Trentmann

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January 05, 2018 11:10 ET (16:10 GMT)