Energy, EU – Baltic States, Oil, Transport

Adjusted operating profit totaled NOK 333 million, which was NOK 112 million lower than the same period in 2010. For the full year, adjusted EBITDA was NOK 3,021 million compared with NOK 3,393 million in 2010. Return on Capital Employed (ROCE) in 2011 was 10.7% after tax, informs LETA.

"2011 was a challenging year for our industry, serving up everything from high refined oil prices to intensified competition in some of our most important growth markets. Our 2011 results document that our operations are robust and able to withstand market fluctuations. This is directly thanks to the extraordinary expertise and efforts of our people," says Jacob Schram, CEO Statoil Fuel and Retail.

Statoil Fuel & Retail's serious incident frequency (SIF – number of serious incidents per million manhours worked) was 1.8 for the fourth quarter of 2011, compared with 2.9 for the same period in 2010 – reflecting a 77% decrease in the number of robberies. The full year 2011 SIF of 1.8 compared favorably with 2.0 for 2010.