Statoil popping up high by and the financial world by banging a hattrick in the net profit fields for the fourth quarter of 2009, amidst the growing rage of price rise and tax slowdown.

Statoil further stated that apart from the bumper profit achieved in the quarter, the refining revenues will remain a dim under the shinning sun.

Statoil's profit bridge faced an avalanche by a 55% slithering refining margins to a $3.4 per barrel in the fourth quarter of 2009.

The Norwegian oil leader recorded fourth-quarter net profit rising by 7.1 billion Norwegian kroner ($1.25 billion) from NOK2.0 billion. The reason for the budge in the Profit was the increased sales of oil and gas shipments and cost savings figure. The higher net profit came rolling to its kitty despite of its revenue falling for the period to NOK122.6 billion from NOK149.8 billion a year earlier.

Profits soared due to higher oil prices in a range of $30 a barrel to about $70 a barrel today and the sales of oil and gas shipments.

The company is planning to postpone some of its natural gas production in Norway amidst the lowering prices. The word of caution for the company, the output may fall this year leading the miss of targets of 2012.

If the plan of postponing is executed anyhow, then the Statoil's average hydrocarbons production will become lower than the targeted range of 1.925 million to 1.975 million barrels of oil equivalent a day. The company further moved ahead in replacing the targets of 2.2 million barrels of oil equivalent a day with a range of 2.1 million to 2.2 million barrels a day.

Gas prices are going down which could lead the fears of a global tension.