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Norway Statoil expects to benefit from U.S. tax overhaul

Norway Statoil expects to benefit from U.S. tax overhaul

OLSO: 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.