Statoil, which operates in Ireland, said yesterday a surge in oil prices and better refining margins boosted nine-month profits before taxes to a record and forecast a possible stock market listing next summer. The oil firm, Norway's biggest company, said pre-tax profits more than doubled in the period ending September 30th to 25.9 billion krona (€3.24 billion) from 11 billion krona a year ago. "Results for the first nine months of this year are the best in our history," Statoil chief executive Mr Olav Fjell said in a statement. "That reflects good markets, but reduced costs also made a positive contribution."

Operating profits before financial items surged to Nkr29.8 billion from Nkr9.6 billion while operating revenues jumped to Nkr142.9 billion from Nkr94.3 billion.

Looking ahead, Statoil said a possible listing on the Oslo stock exchange could happen as soon as next summer, if approved by parliament.