Equinor on Thursday reported a sharper-than-expected decline in third-quarter profits, hit by weaker oil prices and lower production, and cut its full-year outlook for capital expenditure and renewable energy production growth.
Norway's Equinor said on Wednesday it was preparing to survey the damage at its Sleipner B gas platform in the North Sea, which was shut late on Monday following a smoke alert in an electrical facility.
Norway's Equinor said on Tuesday it has shut output at its Sleipner B gas platform in the North Sea due to smoke development in an electrical facility.
Norwegian energy company Equinor has submitted a bid to develop an offshore wind farm together with other companies in the latest round of Japan's state auctions, two sources said, as it seeks a foothold in the fledgling market.
Equinor's acquisition of 10% of Ørsted for $2.5 billion enhances its renewable portfolio, adding significant offshore wind capacity and future revenue growth. The company is investing heavily in Norwegian projects, with $20 billion in capital and substantial production from the Johan Castberg field. Strong cash flow and financials enable Equinor to pay high dividends, repurchase shares, and invest in long-term growth, despite oil price volatility risks.
There are abundant opportunities for energy firms with a footprint in oil & gas resources and renewable energy. Three such companies are EQNR, SHEL & ENB.
Equinor (EQNR, Financial) stock experienced a 3.02% drop in price today, primarily due to its announcement of a new acquisition. This movement contrasted with a 1% decrease in the S&P 500 index, reflecting specific investor reactions to Equinor's latest strategic move.
Investors seemed skeptical of a buy-in to a fellow Scandinavian energy company.
EQNR is advancing 19 energy projects in Norway, contributing to Europe's energy security despite facing rising costs and delays in key projects.
EQNR awards the contract to boost gas production at Troll A, a project crucial to 10% of Europe's gas supply, with work focusing on platform modifications and new well integrations.
EQNR has secured key suppliers for its $9 billion Raia gas project in Brazil, aiming to meet 15% of the country's gas requirements. The project is slated to begin production in 2028.
EQNR cancels plans to export blue hydrogen to Germany, citing high costs and lack of long-term demand. It shifts focus to other hydrogen projects in Europe.