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Barclays CEO Energy-Power Conference
Paal Kibsgaard
Finally, we have maintained a solid track record of generating significant free cash-flow
from our operations, which enables us to consistently return cash to our shareholders
through dividends and stock buy-backs. In 2011 our free cash flow was equal to that of our
three main competitors combined, while in 2012 and so far this year, our free cash-flow has
been double that of our peer group.
Our strong ability to generate free cash flow has allowed us to embark on a new,
$10 billion buy-back program as announced in July. We will also continue to review
dividend levels on an annual basis.
