Equinor ASA (EQNR) , a Norwegian energy firm, has mentioned that it plans to cut back on its investments in renewable energy till 2030. The announcement followed shortly after EQNR acquired a 9.8% stake in Ørsted, a Danish wind energy group. In October, the company had announced its decision to acquire a stake in Ørsted for $2.5 billion. Equinor also noted that it plans to increase the acquired stake to 10%. The deal is contingent upon regulatory approval.Addition to EQNR’s Renewables PortfolioThe company s ...

Group 1 - The article emphasizes the importance of making informed decisions for retirement, highlighting the need for actionable ideas and a high-yield safe retirement portfolio [1] - Equinor ASA (NYSE: EQNR) is identified as a major oil company primarily owned by the Norwegian government, with a recent recommendation to purchase additional shares due to its share price being below $25 and favorable earnings [1] - The Value Portfolio focuses on building retirement portfolios through a fact-based research strategy, which includes thorough analysis of 10Ks, analyst commentary, market reports, and investor presentations [1]

Equinor ASA (EQNR)  reported third-quarter 2024 adjusted earnings per share of 79 cents, which beat the Zacks Consensus Estimate of 74 cents. However, the bottom line declined from the year-ago quarter’s 98 cents.Total quarterly revenues of $25,416 million declined from $25,924 million in the prior-year quarter. However, the top line surpassed the Zacks Consensus Estimate of $24,447 million.Better-than-expected quarterly earnings can be attributed to higher daily production of liquids and gas, driven by the ...

3rd quarter 2024 results - Torgrim Reitan Chief financial officer 24 October 2024 Open 0.79 USD Highlights Third quarter 2024 Financial and operational performance − Solid financial results − Extensive turnaround programme executed successfully − Strong cash flow from operations Strategic progress − All time high production from Troll in gas year − Johan Castberg on track for start-up by end of the year − Northern Lights facility ready to receive CO2 − Acquisition of 9.8% share in Ørsted Delivering strong c ...

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 ...

Core Insights - Equinor ASA has awarded Aker Solutions a significant contract valued between NOK 500 million and NOK 1.5 billion to enhance gas production capabilities at the Troll A platform as part of the Troll Phase 3 development [1][6] - The Troll field is crucial for Norway's gas production, accounting for 10% of Europe's gas supply, and the Troll Phase 3 project aims to extract gas from the gas cap above the Troll West oil column while continuing oil production [2][7] Contract Details - Aker Solutions will prepare the Troll A platform to process gas from eight new wells drilled at Troll West, with the processed gas routed to existing infrastructure for integration with the wider gas network [3][4] - The contract will be managed from Aker Solutions' Stavanger office in Norway, with support from teams in Bergen and Mumbai, and construction work will take place at the Egersund yard in Norway [5] Project Timeline and Impact - Work under the new contract is set to begin immediately and is expected to conclude by the end of 2027, strengthening Aker Solutions' position in the Troll field [6] - The Troll field remains a key asset for Equinor, which is also planning to partially electrify the Troll B and C platforms to reduce emissions, highlighting the field's role in supporting Europe's energy needs while aligning with sustainability goals [7] Stock Performance - Equinor shares have outperformed the industry over the past six months, with a decline of 2.8% compared to the industry's 5.7% decline [8]

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 ...

Core Insights - Equinor ASA has abandoned its plans to export blue hydrogen to Germany due to high costs and insufficient demand [1][2] - The initial partnership with RWE aimed to create a hydrogen supply network to reduce greenhouse gas emissions in German power plants [1][2] Cost and Demand Analysis - The projected cost of the entire supply chain for blue hydrogen production was estimated to reach "tens" of billions of euros, with the pipeline alone costing around €3 billion ($3.35 billion) [2] - Without firm long-term commitments from European buyers, Equinor could not justify the continuation of the project [2][3] Project Viability and Future Focus - RWE clarified that while it was not responsible for the hydrogen pipeline, it required support from both Norway and Germany for the project [3] - Equinor confirmed the discontinuation of the early-phase development of the hydrogen pipeline project [3] - The company is now shifting its focus to other early-phase hydrogen projects in Britain and the Netherlands, while RWE's hydrogen-ready gas power plants will proceed with hydrogen sourced within Europe [4] Strategic Developments - The German government is exploring options to convert Norwegian gas into blue hydrogen in the Netherlands, with captured CO2 sent back to Norway for storage [4]