EQNR postpones the Arctic Johan Castberg oilfield startup to 2025 due to harsh Barents Sea weather, impacting short-term production forecasts.
EQNR finalizes divestments worth $2 billion in Nigeria and Azerbaijan, streamlining its oil and gas portfolio for long-term growth and profitability.
Norway's Equinor said on Tuesday that the startup of its Arctic Johan Castberg oilfield has been postponed to January or February from the end of 2024 due to adverse weather conditions in the Barents Sea.
Equinor has closed the planned sale of its assets in Nigeria and Azerbaijan for a total consideration of up to $2 billion, completing exits from the two countries after some 30 years, the Norwegian oil and gas firm said on Monday.
EQNR launches its first Hydrogen Open Season, inviting parties to purchase low-carbon hydrogen from its 1 GW H2M Eemshaven project in the Netherlands.
Today we'll discuss a 5.4% dividend that actually annualizes to 7%. A 5.7% payer that really dishes 12.4%.
Equinor's new contract with DeepOcean shall set a new industry standard for sustainable IMR operations. The contract has a duration of eight years.
EQNR's ambitious expansion into renewables positions it as a leader in the energy transition. Its focus on oil and gas operations underscores its commitment to energy security.
Norway's Equinor is trimming 20% of the staff from its renewable energy division and will compete for a smaller number of new projects as it streamlines the business unit, the company told Reuters on Thursday.
Equinor's strong fundamentals, state ownership, and strategic moves in renewables make it a solid medium to long-term investment with a target price of 300 NOK/share. The company's dominance in the Norwegian Continental Shelf, cost reductions, and new discoveries ensure high-margin, low-cost crude production with significant upside. Equinor's shift towards renewables, including a stake in Orsted and projects like "Northern Lights," positions it well for future growth despite short-term yield adjustments.
Equinor is on track to return a staggering $44.7 billion to shareholders in just three years.
EQNR's acquisition of a stake in Orsted offers a cost-effective opportunity for the company to participate in offshore wind projects without having to develop them.