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Statoil sells first oil from Angola

Norwegian oil company Statoil has sold its first oil from a field it owns a stake in off Angola. Statoil has a 13.3 percent share in the Girassol field, which produces 120,000 barrels a day from six wells.

The field, operated by TotalFinaElf of France, sold a 1-million-barrel load that will be taken up next month. Production at the site is due to increase to 200,000 barrels per day by the middle of next year.