During 2008 we also continued the standardisation and simplification process throughout the business area, in order to increase efficiency.
Our total capital expenditure of NOK 6.8 billion in 2008 was higher than in previous years, triggered by high activity in projects and a major turnaround at the Mongstad refinery. Capital expenditure was NOK 4.8 billion in 2007 and NOK 2.5 billion in 2006.
Oil sales, trading and supply
With average crude and condensate sales of 2 mmbbl per day in 2008, we are one of the world's largest net sellers of crude oil. Of our daily sales of 2 mmbbl, approximately 1.0 mmbbl were our own equity volumes, 0.5 mmbbl were third party volumes and 0.5 mmbbl were SDFI volumes. Including NGL, the average sales volume was 2.3 mmbbl per day in 2008 compared with 2.4 mmbbl per day in 2007. In 2006, the average sales volume was 2.3 mmbbl per day.
We will continue to strengthen our global trading position by securing physical infrastructure and building physical third party positions based on our production in selected regions. Physical activity relates to an actual commodity and does not involve trading in financial instruments. The average daily third party crude volumes sold in 2008 were 0.53 mmbbl, compared with 0.52 mmbbl in 2007 and 0.42 mmbbl in 2006. Although 2008 has been a year with high financial uncertainty and increased counterparty risk, no credit losses have been realised on customer sales during the year.
Manufacturing
Mongstad had a challenging year with its largest ever turnaround, including major modifications in the cracker unit, as well as some unplanned shutdowns. Kalundborg had significant shutdowns in 2008, partly unplanned and partly due to start-up after the fuel reduction project. Sture had stable operations and high regularity, and Tjeldbergodden had high regularity and utilisation in 2008.
Energy and retail
We have maintained our leading energy and retail positions and have the largest or second largest market share in most of the countries in which we operate.
On 21 October 2008, the European Commission granted permission for StatoilHydro to take over the bulk of the Jet self-service retail chain in Scandinavia from ConocoPhillips. To comply with the terms set by the commission, StatoilHydro agreed to sell 80 of the 274 filling stations acquired. StatoilHydro will also be obliged to sell 118 Hydro stations in Sweden as part of the divestment package.
The transaction is an important element in our endeavours to become the leading fuel company in Scandinavia.
We also continued to strengthen our position as one of the leading suppliers of biofuels in Scandinavia and the Baltic countries during 2008. Biofuels are now available at more than 1,300 service stations in seven different countries.
