Norway's state-controlled energy giant Equinor has cancelled plans to invest in Vietnam's offshore wind sector, a company spokesperson told Reuters, in a setback for the Southeast Asian country's green power ambitions.
Norway's Equinor shut down production at its Gullfaks C platform in the North Sea on Sunday and evacuated some workers as a precaution following a well incident, a company spokesman said.
Equinor ASA's share price has fallen from 2023 highs, but the company has strong diversification and assets to drive shareholder returns. Equinor had a strong second quarter with impressive production and financial results. The political environment in Europe poses a risk to Equinor's core business, but Norway's energy stability may provide opportunities for the company.
Equinor's (EQNR) decision to exit Suriname aligns with the company's broader objective to focus on a few core production areas, such as Norway, the Gulf of Mexico and Brazil.
Equinor has withdrawn from a Hess-operated deepwater oil and gas exploration block off Suriname and exited the South American country, a spokesperson for the Norwegian company said on Wednesday.
Equinor plans to grow oil and gas by 5% until 2026, sustain 2 million barrels per day through 2030, and invest $23 billion to increase renewable energy production to over 80 TWh. The Company can be a good choice to bet against the investor sentiment of lower oil demand by 2030. EQNR's great capital allocation and cheap multiples make it a good choice in the sector.
Equinor's (EQNR) Q2 earnings gain from higher production of gas and increased liquids price. The company expects organic capital expenditure to be $13 billion for the year.
Equinor's second-quarter profits declined by 4% year on year as natural gas prices fell, the energy company reported on Wednesday, although the results still outperformed analysts' expectations.
Equinor (EQNR) awards a nearly $498-million drilling contract to Valaris for Brazil's Raia field project, set to begin in 2026. The project is aimed to meet 15% of Brazil's gas demand by 2028.
Equinor (EQNR) is the operator of Production License 1014 where the drilling activities will be carried out by Odfjell Drilling's Deepsea Atlantic rig.
Equinor (EQNR) kicks off production from the first of five wells in its Norwegian Sea tie-back project, aiming to enhance efficiency and reduce emissions in the Norwegian Sea.
Equinor (EQNR) has extended its contract with Archer for an additional two years, valued at $60 million, to provide vital services in the North Sea.