Equinor ASA (EQNR) , the Norwegian state-owned energy giant, and Finnish energy company Gasum have extended their long-term contract for liquefied natural gas (LNG) bunkering. This agreement ensures that Gasum will continue to supply LNG to Equinor's dual-fuel chartered fleet, highlighting both companies' commitment to reducing emissions in the maritime sector. The renewed contract, which builds on the existing collaboration between Gasum and Equinor, dates back to 2011. It includes not only the supply of L ...

Furthermore, the nomination committee recommends a re-election of Jon Erik Reinhardsen as chair and Anne Drinkwater as deputy chair of the board, in addition to re-election of Jonathan Lewis, Finn Bjørn Ruyter and Haakon Bruun-Hanssen as members of the board of directors. The current members, Rebekka Glasser Herlofsen, member since 2015, and Tove Andersen, member since 2020, will resign from the board of directors. Board member Mikael Karlsson, who was elected as of 1 April 2024, is not up for election. Ton ...

Equinor ASA (EQNR) , the Norwegian state-owned energy giant, has announced a significant investment exceeding $1 billion to enhance gas production infrastructure at the Troll field, one of the largest oil and natural gas fields in the Norwegian sector of the North Sea. This ambitious project aims to reinforce Europe's energy security by ensuring high levels of gas export. Expanding the Troll Field Infrastructure The Troll field, a foundation of Norway's energy production, has been developed in multiple phas ...

Core Insights - Equinor ASA has announced a new oil discovery in the North Sea, utilizing the Deepsea Aberdeen rig operated by Odfjell Drilling [1] Discovery Details - The discovery was made at well 25/11-H-1 H in the Svalin field, with preliminary estimates of recoverable oil equivalent ranging from 0 to 0.1 million standard cubic meters, or up to 0.6 million barrels [2] - The well contains oil in thin sandstone layers less than 3 meters thick, with high reservoir quality in the Balder Formation [2] Partnership and License Information - Equinor operates the license for this well with a 57% stake, while Petoro holds 30% and Var Energi has 13% [3] - The production license 169 was awarded on March 1, 1991, and is valid until March 1, 2030 [3] - The Svalin field is located six kilometers southwest of the Grane field at a water depth of 120 meters [3] Historical Context and Future Plans - The Svalin field was initially discovered in 1992, with development plans approved in 2012, and production began in 2014 [4] Strategic Implications - Equinor's executive vice president for Exploration and Production Norway emphasized the company's commitment to development and value creation on the Norwegian Continental Shelf [6] - A recent asset swap agreement with Petoro aims to optimize Equinor's portfolio and enhance operational efficiency [6] Conclusion - This discovery highlights Equinor's efforts to exploit mature fields and improve recovery techniques, supported by strategic partnerships and investments in advanced drilling technologies [7]

The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 16 May 2024, in total seven business days. Average Norges Bank fixing rate for this period was 10.7254. Total cash dividend for fourth quarter 2023 of USD 0.70 per share is consequently NOK 7.5078 per share. On 28 May 2024, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts ...

Equinor ASA (EQNR) , the Norwegian state-owned energy giant, has secured approval from the New York State Public Service Commission to commence construction of its Empire Wind 1 offshore wind farm, as announced by governor Kathy Hochul's office on Thursday. The 810 MW Empire Wind 1 project is a significant step toward New York's ambitious goal of developing 9,000 MW of offshore wind power by 2035. This project will connect to the transmission system for New York City, providing a substantial boost to the st ...

Core Viewpoint - The Russian invasion of Ukraine in 2022 positioned Equinor ASA as a leading natural gas supplier to Europe, resulting in a record year despite declining natural gas prices in recent quarters [1]. Company Profile - Equinor ASA, formerly known as Statoil ASA, is an energy company involved in the exploration, production, transportation, refining, and marketing of petroleum and other energy forms, headquartered in Stavanger, Norway [2]. Operational Segments - Equinor's operations are divided into several segments: Exploration & Production Norway, Exploration & Production International, Exploration & Production USA, Marketing, Midstream & Processing, and Renewables [4]. Asset Distribution - Norway accounts for 49% of Equinor's assets, followed by the U.S. at approximately 19%, Brazil at 16%, and the UK at 8%. Notably, the UK and Brazil saw significant asset increases of 49% and 15% respectively in 2023 [4]. Capital Expenditure Plans - Management plans to invest approximately $13 billion in CapEx for 2024, increasing to $14 billion to $15 billion from 2025 to 2027, focusing on renewable energy projects [5]. Earnings Overview - In Q1 2024, Equinor reported total equity production of 2,164 mboe/day, an increase from 2,130 mboe/day in Q1 2023, driven by enhanced capacity at Johan Sverdrup and new wells [6]. - Adjusted operating income for Q1 2024 was $7.53 billion, with a net income of $2.57 billion. Despite price declines, adjusted earnings for 2023 reached $36 billion, marking the second-best result in the company's history [7]. Financial Performance - Q1 2024 revenues decreased by 14.10% to $25.09 billion, with net income down 46.28% to $2.67 billion compared to Q1 2023. The diluted EPS fell by 42.77% to $0.91 [8]. - Operating cash flow before taxes was $9.69 billion, with total CapEx of $3.36 billion for the quarter [7]. Dividend Information - Equinor declared a basic dividend of $0.35 and an extraordinary dividend of $0.35 for Q1 2024, resulting in a total yield of 10% [10]. - The company has a 5-year dividend growth rate of 47.5%, with significant increases of 224% and 50% in 2022 and 2023 respectively [10]. Debt and Liquidity - As of March 31, 2024, Equinor had over $37 billion in cash and cash equivalents, with a net debt to capital employed ratio of negative 20% [18]. - The assets/debt ratio stood at 6.23X, indicating solid financial health despite a slight decrease from previous quarters [19]. Performance Comparison - Equinor's stock performance has lagged behind the oil majors and the S&P 500 over the past year, although it has shown improvement in the recent quarter [20]. Analyst Ratings - TD Cohen resumed coverage on Equinor with a Hold rating and raised the price target from $28.00 to $30.00, indicating a potential upside from the current price of $27.98 [21]. Valuation Metrics - Equinor's trailing P/E ratio is 8.61, which is lower than the industry average, while its forward P/E is slightly higher than average. The Price/Book ratio is 2.2X compared to the industry average of 1.5X [22].

Core Viewpoint - Equinor ASA has entered a value-neutral asset swap agreement with Petoro to align their equity interests in the Haltenbanken area on the Norwegian Continental Shelf [1] Details of the Swap - Equinor will increase its ownership in the Heidrun field and the Noatun discovery while decreasing stakes in the Tyrihans field, Johan Castberg field, and Carmen and Beta discoveries [2] - Post-swap, Equinor will own 34.4% of Heidrun and 36.3% of Tyrihans, while Petoro will hold 36.4% of Heidrun and 22.5% of Tyrihans [4] Strategic Benefits - The alignment of ownership in the Halten area is expected to create additional value for all parties involved, streamline commercial agreements, reduce operating costs, and accelerate new developments [5] Field Details and Future Plans - Heidrun and Tyrihans are among the largest producing fields in the Halten area, with Heidrun noted for its long remaining life [6] - The production start-up for the Johan Castberg project is scheduled for the fourth quarter of 2024, with a revised cost estimate of $7.4 billion [6] Decarbonization Efforts - Equinor is targeting a reduction of carbon emissions from the Norwegian Continental Shelf by 160,000 tons of CO2 per year through the use of onshore power [7]

Extraordinary cash dividend amount: 0.35 Announced currency: USD The shares in Equinor ASA ((OSE: EQNR, NYSE:EQNR) will as from today be traded exclusive the fourth quarter 2023 cash dividend as detailed below. Ex. date: 15 May 2024 Ordinary cash dividend amount: 0.35 This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act ...

On 14 May 2024, the annual general meeting in Equinor ASA ((OSE: EQNR, NYSE:EQNR) approved the annual report and accounts for Equinor ASA and the Equinor group for 2023, as proposed by the board of directors. Further, the annual general meeting approved an ordinary dividend of US dollar (USD) 0.35 per share and an extraordinary dividend of USD 0.35 to be distributed for the fourth quarter of 2023. The fourth quarter 2023 dividend accrues to the shareholders as registered in Equinor's shareholder register wi ...