Equinor (OSE: EQNR, NYSE: EQNR) will on 25 October 2024 commence the fourth and final tranche of up to USD 1.6 billion of the share buy-back programme for 2024, as announced in relation with the third quarter results 24 October 2024. In this fourth tranche, shares for up to USD 528 million will be purchased in the market, implying a total tranche of up to USD 1.6 billion including shares to be redeemed from the Norwegian State. The tranche will end no later than 31 January 2025. Equinor announced at the Cap ...

Investors seemed skeptical of a buy-in to a fellow Scandinavian energy company. Oil and gas companies might be riding a long-tail boom these days, but you wouldn't know that from the latest action in Equinor (EQNR -3.02%). The Scandanavian energy company didn't do well on Monday, sinking by 3% in price on news of a fresh acquisition. The S&P 500 index also landed in negative territory, but not as deeply, as it fell a comparatively benign 1%. Investing in the wind Equinor's major news item that day was the d ...

Equinor ASA (EQNR) , a Norwegian state-owned energy company, has announced significant progress on its development projects with 19 initiatives currently underway. In the proposed National Budget for 2025, the Norwegian Ministry of Energy detailed the status of 13 Equinor-operated projects that are either under development or have recently been completed. According to Trond Bokn, head of project development at Equinor, the company's developments in 2023 contributed to significant economic activity, with 25 ...

Equinor ASA (EQNR) awarded Aker Solutions a significant contract to enhance the gas production capabilities of the Troll A platform as part of the ongoing Troll Phase 3 development. The contract, valued between NOK 500 million and NOK 1.5 billion, covers engineering, procurement, construction, installation and commissioning services. This work will focus on modifications to the platform that will support the extraction of gas from the Troll West reservoir, one of Norway's largest sources of natural gas. The ...

Equinor ASA (EQNR) , a Norwegian state-owned energy company, has made significant progress in its $9 billion Raia offshore gas project in Brazil. Per a Bloomberg report, the company's CEO Anders Opedal confirmed, during an oil conference in Rio de Janeiro, that all major contracts have been secured to build a floating production vessel, drill wells and install seabed infrastructure. The project, which aims to meet 15% of Brazil's gas demand, is expected to begin production by 2028. Valaris to Lead Offshore ...

Equinor ASA (EQNR) , a Norwegian state-owned energy company, has scrapped its plans to export blue hydrogen to Germany due to high costs and a lack of sufficient demand, per media reports. The move came at the heels of the company's initial partnership with German energy giant RWE, which was established in January 2022 to create a hydrogen supply network aimed at reducing greenhouse gas emissions in German power plants. Cost and Lack of Demand Force EQNR to Reevaluate Partnership Equinor initially expected ...

Core Insights - Equinor ASA has successfully anchored its floating production, storage, and offloading vessel (FPSO) on the Johan Castberg field, with production expected to start by the end of 2024 [1][2] - The Johan Castberg field is one of the largest oil fields in the Barents Sea, with estimated recoverable volumes between 450-650 million barrels and a peak production capacity of 220,000 barrels per day [3][6] - The project is expected to create significant economic value for Norway, including job creation and long-term societal benefits [2][5] Project Development - The FPSO is currently being connected to subsea infrastructure, with 30 wells planned for development, of which 13 have already been drilled [2][3] - The field has a projected production life of approximately 30 years, with drilling operations continuing through 2026 [3][6] - Equinor holds a 50% operating stake in the Johan Castberg project, with partners Vår Energi and Petoro holding 30% and 20%, respectively [6] Economic Impact - More than 70% of total deliveries for the Johan Castberg project are sourced from Norwegian suppliers, with expectations that this will rise to 95% once operational [5] - North Norway is anticipated to account for around 40% of these deliveries, highlighting the project's regional economic significance [5] - The project is part of Equinor's broader development plans for Northern Norway, unlocking new areas for oil recovery in the Barents Sea [4]

A fresh move by an analyst following the stock didn't do it any favors. The market drained the energy from energy stock Equinor (EQNR -4.83%) on Tuesday. Rather than movement on company news, the Norwegian oil and gas major took a hit when an analyst tracking its stock cut his price target. By the end of the day's trading session, Equinor's share price had withered by almost 5%, comparing unfavorably with the relatively modest 2.2% decline of the S&P 500 index. Cutting while maintaining The person behind th ...

Equinor ASA (EQNR) , a Norwegian energy giant, announced the cancellation of its offshore wind projects in Spain and Portugal, following a previous similar decision to exit Vietnam. This strategic withdrawal came at the heels of the company facing mounting costs in the offshore wind sector due to inflation, high interest rates and supply chain delays. The company's head of renewables, Paal Eitrheim, shared these updates in an interview with Reuters on Wednesday. EQNR Navigates Rising Costs by Exiting Key Wi ...

Equinor ASA (EQNR) , a Norwegian energy firm, halted production at its Gullfaks C platform in the North Sea. The company stated that the shutdown was due to an incident with a well at the platform. Furthermore, as a security measure, some workers were evacuated from the platform. The Gullfaks C platform encountered a well-control incident, per a company spokesperson, who also mentioned that it was unclear when the Gullfaks C platform would return online.The incident has affected only the Gullfaks C platform ...