Shares in Norwegian oil group StatoilHydro fell 11% today after the group said it would miss its 2007 production targets and issued disappointing forecasts for 2008.
StatoilHydro warned that production problems at a string of Norwegian offshore gas and oil fields meant it would miss its own 2007 aims.
The group predicted a small increase in production to 1.75 million barrels of oil equivalent per day next year.
Shares in the group closed at 164.80 Norwegian kroner, wiping 60 billion kroner (€7.5 billion) off the value of the group's market capitalisation.
