|Bid||0.00 x 140000|
|Ask||0.00 x 140000|
|Day's Range||15.86 - 16.13|
|52 Week Range||14.50 - 21.27|
|Beta (5Y Monthly)||0.75|
|PE Ratio (TTM)||29.30|
|Forward Dividend & Yield||0.96 (5.95%)|
|Ex-Dividend Date||May 15, 2020|
|1y Target Est||31.38|
Equinor ASA (OB:EQNR) missed earnings with its latest full-year results, disappointing overly-optimistic analysts...
Oil prices fell again on Friday as the OPEC+ plans to deepen production cuts in order to counter bearish sentiment driven by Coronavirus demand fears hit a rut
(Bloomberg) -- British companies are preparing for the U.K. government to decide how to spend more than $1 billion on infrastructure capable of capturing and burying millions of metric tons of carbon dioxide pollution.The money — 800 million pounds — will go toward partially funding a “cluster” that captures emissions from factories and power stations by the middle of this decade. In a bid to shore up its climate credentials, the Conservative party made the promise to spend the sum in its manifesto, before it won a majority in the general election in December.In 2015, a previous Conservative-led government made the surprise decision to scrap a $1.4 billion carbon-capture and storage contest. Yet no pathway to limit global warming to tolerable levels exists that doesn’t envision some use of the technology. Even if all electricity came from renewables, it doesn’t address the emissions from cement and steel plants—more than 10% of the global total—which have few technology alternatives working at scale.Last year, the U.K. became the first major country to target net-zero emissions by 2050. That might seem like a long time in the future, but it isn’t, said Dominic Nash, utilities analyst at Barclays Plc. In energy project investment terms “30 years is basically tomorrow.”Carbon capture projects would make most sense in five main clusters of industrial plants in the U.K. including near the Humber River, Merseyside, Teesside, Runcorn and Grangemouth, according to a report by the consulting group Element Energy Ltd. Those places employ more than 90,000 people in chemicals and oil refining. The utility Drax Group Plc wants government support for an initiative in the Humber region of England. The system would remove emissions and potentially pipe them to an oil field under the North Sea. “The government would be able to make the greatest contribution toward delivering its world-leading climate ambitions,” said Will Gardiner, chief executive officer of Drax.Drax’s consortium, which includes Equinor ASA and National Grid Plc, is already working on a system that removes carbon dioxide from burned biomass. It says this will create “negative emissions” because the trees removed CO2 from the atmosphere as they grew and the capture plant would then additionally bury the emissions from burning them.The technology is called bioenergy with carbon capture and storage, or BECCS, and it’s being tested by Drax in a partnership with Leeds-based startup C-Capture Ltd. The pilot plant is currently capable of capturing 1 metric ton of carbon dioxide each day. With an investment of 50 million pounds the plant can be scaled up this year to capture 100 metric tons each day, said C-Capture chief executive Tom White.Scaling up the current pilot to one biomass unit that could capture 10,000 metric tons of carbon dioxide each day is “like going from a tricycle to an aircraft,” White said, adding that he’s confident he can accomplish the task in five to seven years.That one unit would capture about a quarter of the emissions at Drax in 2027, assuming one of its four biomass units is fitted with BECCs and the two currently burning coal are closed. Drax still has the U.K.’s highest stack emissions at the point of combustion. Drax notes that the plants grown to provide biomass for its furnaces absorbed CO2 as they grew and that those forests tend to capture carbon faster than they are harvested.“The U.K. has been toying with CCS for more than a decade,” Nash said. “This year is the year it might actually push the button on a project.”Whether that’s likely is unclear. The Department for Business, Energy and Industrial Strategy said the government wants to be a world leader on carbon capture technology and that reaching net-zero emissions will require decisive action across the economy. In an indication of the government’s interest in CCS, U.K. Energy Minister Kwasi Kwarteng visited Drax last week. (Updates with detail from Drax in ninth and 10th paragraphs. Adds government comment in final paragraph. )\--With assistance from Jeremy Hodges and Rachel Morison.To contact the authors of this story: Mathew Carr in London at email@example.comAkshat Rathi in London at firstname.lastname@example.orgTo contact the editor responsible for this story: Reed Landberg at email@example.com, Lars PaulssonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
BP is seeking buyers for its stake in a major Algerian gas plant deep in the Sahara desert after recent talks on a sale to Russian oil giant Rosneft failed, three industry sources told Reuters. BP hopes to raise around $2 billion from the sale of its 45.89% stake in the In Amenas natural gas plant that was the target of a deadly attack by Islamist militants in 2013. The approval of a sale of the Algerian assets will be one of the first major decisions for Chief Executive Bernard Looney who took office on Wednesday after his predecessor Bob Dudley stepped down following a decade at the helm.
Equinor ASA Thursday swung to an unexpected fourth-quarter net loss as earnings were weighed on by lower prices and hefty impairments.
(Bloomberg Opinion) -- The start of a new year brings with it a raft of data on the world’s energy systems. So far, electricity sector figures show a transition well underway — some sources increasing, others collapsing. Each market is different, but the trends in markets as diverse as the U.K., Spain, Australia and Texas all show profound changes in what is a very short period of time.Coal has nearly vanished in the U.K.: Figures from National Grid Plc show that coal-fired power made up just 2.1% of the power mix last year — down from 75% in 1990. Coal was the single-biggest generation type just six years ago; now, it is smaller than what analysis group Carbon Brief classifies as “other.” Gas is now by far the largest source of power generation in the U.K., followed by wind power, which surpassed nuclear last year.Coal collapsed in Spain, too: Coal-fired electricity in Spain dropped to its lowest levels since the country’s grid operator began keeping records in 1990. At less than 5% of total generation in 2019, Spain’s coal sector isn’t quite as shrunken as it is in the U.K., but it’s also 85.6% less than it was in 2002, when coal was at its peak, according to an El País analysis of the grid operator’s data. BloombergNEF analysis from October anticipated this change; as analysts said, Spanish coal hit an economic wall and utilities are now phasing out coal at a far faster rate than climate and energy policies dictate.U.S. coal power is now back to 1970s levels: According to Rhodium Group analysis, the U.S. power sector’s coal consumption fell 18% in 2019, bringing it back to the same level as in 1975. The resulting drop in power sector emissions was good enough for a 2% drop in economy-wide emissions, even with emissions from transportation, industry and agriculture all increasing.Wind almost — but not quite — blows away coal in Texas: As my colleagues pointed out in research earlier this week, Texas wind power came within a few gigawatt-hours of exceeding the Lone Star State’s coal-fired power generation last year. It’s worth seeing Texas’s wind, coal and gas-fired power charted together. Wind is structural, with steady growth since 2011; coal is cyclical, and it is essentially the inverse of gas-fired power at any given moment. The state is expected to add another 11 gigawatts of wind capacity by 2025.Solar crosses gas in Australia: Wind also surpassed coal in Australia last year — well, one kind of coal, at least. Wind generation exceeded brown coal generation in 2019. Brown coal, also called lignite, is not the main coal fuel in the country, however. Wind remains quite a ways behind black-coal-fired power generation.Perhaps more significant is another crossover point: Customer-owned rooftop solar now generates more power in Australia than all the country’s natural-gas-fired plants. Rooftop solar generation is also quite close to equaling wind generation as well. The next month will bring more global energy data, and more significant market activity, with BlackRock Inc. joining Climate Action 100+, the $41 trillion investor climate campaign. More market transitions are coming, from electrons and molecules to the capital that enables both.Weekend readingGreen bonds and loans totaled $465 billion in 2019, up 78% from 2018. 2019 was the warmest and driest year on record in Australia. 2019 was the second-wettest year on record in the U.S., and the hottest year ever recorded in Alaska, which was 6.2 degrees warmer than the long-term average. IKEA of Sweden AB plans to be “climate positive” by the year 2030. JetBlue Airways Corp. aims to become carbon neutral by July. Turbine maker Vestas Wind Systems A/S aims to become carbon neutral “no later than 2030.” Oil producer Equinor ASA aims to cut its emissions to “near zero by 2050.” Philanthropy must stop fiddling while the world burns. Tech has reached the end of the beginning. Lab-grown food will soon destroy farming — and save the planet. A look back, from 2030, at why the 2020s were California’s golden decade. In 2030 we ended the climate emergency. Here’s how.Get Sparklines delivered to your inbox. Sign up here.(Corrects second chart to reflect accurate measurement of wind capacity.)To contact the author of this story: Nathaniel Bullard at firstname.lastname@example.orgTo contact the editor responsible for this story: Brooke Sample at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Equinor just unveiled its most ambitious climate plan yet, but it isn't enough to get Norway's biggest oil company off the exclusion list of a major Danish pension fund.
Norwegian oil producer Equinor aims to cut greenhouse gas emissions generated at offshore fields and onshore plants in Norway by about 40% in the coming decade and to near zero by 2050, it said on Monday. The cuts could allow Norway, western Europe's top oil and gas exporter, to continue to pump millions of barrels of oil even as the country seeks to fulfil obligations under the 2015 Paris climate agreement to slash domestic emissions. The initial cuts will primarily come through replacing electricity from gas turbines with renewable energy at major installations, including offshore wind turbines and hydroelectric power via subsea cables.
Equinor has launched a new goal to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40 percent by 2030, 70 percent by 2040 and to near zero by 2050.
For years, tobacco companies were the clearest example of “sin stocks,” businesses that make money by selling a harmful product. Warren Buffett, for instance, was willing to invest in oil long after he had renounced cigarette stocks. Investors stuck with the shares despite the damage burning fossil fuels does to the environment, not to mention catastrophic failures like the 1989 Exxon-Valdez oil spill in Alaska.
Norway's Equinor ASA has submitted to Brazil's oil industry regulator ANP declarations of the commercial viability of two blocs licensed in the Carcara oil field in the pre-salt region of the Santos basin, the company said on Thursday. In a statement, Equinor said it reported to ANP as operator in the name of its partners Exxon Mobil Corp and Petrogal Brasil in the BM-S-8 and Norte de Carcara licensed areas. Four of five exploratory wells drilled produced oil, it said.