EX-7 10 sto06ex7.htm RATIO OF EARNINGS TO FIXED CHARGES Statoil 2006 Annual Accounts on Form 20-F - Exhibit 7

Exhibit 7 - Earnings to fixed charges


The following table sets forth our significant subsidiaries owned directly by the parent company in alphabetical order, equity interest and each subsidiary’s country of incorporation. In each case our voting interest is equivalent to our equity interest.

 

2006

2005

2004

2003

2002

Fixed Charges

Interest expense

1,262,000

539,000

301,000

859,000

1,918,000

Interest within rental expense

2,008,000

1,891,000

1,834,000

2,055,000

2,350,000

Capitalized interest

2,076,000

1,672,000

829,000

442,000

382,000

Total fixed charges

5,346,000

4,102,000

2,964,000

3,356,000

4,650,000


Earnings

Income before tax and minority interest

121,695,000

91,531,000

70,840,000

44,265,000

51,332,000

Equity in equity-accounted investees

(410,000)

(1,090,000)

(1,209,000)

(616,000)

(352,000)

Distributed income of equity-accounted investees

254,000

567,000

213,000

104,000

436,000

Income before taxes, minority interests and equity-accounted investees

121,539,000

91,008,000

69,844,000

43,753,000

51,416,000

Fixed charges

5,346,000

4,102,000

2,964,000

3,356,000

4,650,000

Ordinary depreciation of capitalized interest

682,000

617,000

612,000

656,000

726,000

Capitalized interest

(2,076,000)

(1,672,000)

(829,000)

(442,000)

(382,000)

Total earnings

125,491,000

94,055,000

72,591,000

47,323,000

56,410,000

 

Ratio

23.5

22.9

24.5

14.1

12.1