investors like the results even more even though statoil was a mess, even though earnings came in atat they were supposed to be. programthat is this they announced which would go through 2017. the whole idea is this is what you do if you want to maintain your dividend policy. guy: a different strategy from bp? ryan: a different strategy from bp. they are cutting spending. they are shaving it back by about $1.5 billion from where they were last year. it's this measure you can use to lay or hopefully shove away the need to cut dividends. cfo were just on the phone saying they see dividends flat over the next three quarters. investors like what they see. it's all about the dividends these days, isn't it? guy: interesting. ryan, thank you very much. ryan chilcote on the oil story. leaders gather in london. david cameron is hoping to get her for britain's renegotiated relationship with the eu. we will bring you the details, next. ♪ guy: welcome back. we are live on bloomberg television, streaming on your phone and on bloomberg.com. 30 heads of state are in syria today for a summit hosted

statoil ceo speaking to our colleagues earlier this morning. >> that's a very important part of our message today. we're preparing ourselves to invest in the highly attractive port foe yoel. actually, we've taken down the breaking prices for the nonsanctioned portfolio that's up for sanctions from around $70 per barrel to $40 per barrel. we're preparing to invest and have the financial capacity to do that combined with maintaining a dividend. >> asset prices have been coming down in value. it will be interesting to see whether or not certain large players can capitalize on that particular move. >> a lot of people are saying the rebound in crude oil we saw yesterday and into this morning has to do with the strong dollar, which has really taken center stage just over the last 24 hours or so and continues to weaken. let's show you what's going on right now. foreign exchange trade is 24 hours a day. weakness in the dollar, especially against the euro. look at the euro, zooming all the way up. we're basically back to levels we were at a year ago. this is some relief for corporate america, the cf

$50, give thea market some guidance in terms of how you are shaping statoil for the lower for longer,ng that? how much lower, for how much longer? eldar: we are forcefully pursuing efficiency and stepping up our efficiency program by 50%. we have two thoughts in our mind, first of all we have an aggressive strategy also preparing us to invest for a rebound in the market. high quality project will be pursue those investments. there is uncertainty on the commodity market. we have a flexibility in our program as well. meetbrings our capacity to the potential situations where this could be even longer for longer than we might expect. it will be a rebound come and we are prepared for it. anna: what kind of timeframe are you talking but for the rebound? the battle for the market share was reaching its final conclusion. is a rebound imminent? eldar: my guess would be that we are getting into a time of rebalancing. there is a lot of stock out there. within the next year or so, i suspect we would get into that situation. how long that rebalancing will take i don't know. there is a lot of uncer