|Bid||17.40 x 4000|
|Ask||19.00 x 4000|
|Day's Range||17.36 - 17.53|
|52 Week Range||16.24 - 23.97|
|Beta (5Y Monthly)||0.75|
|PE Ratio (TTM)||31.73|
|Forward Dividend & Yield||1.04 (5.96%)|
|Ex-Dividend Date||Feb 17, 2020|
|1y Target Est||24.05|
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 firstname.lastname@example.orgAkshat Rathi in London at email@example.comTo contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org, 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.
Norwegian oil and gas group Equinor has pledged to halve the carbon intensity of the energy it produces by 2050, the latest push to cut emissions in a sector under increasing pressure to take action on climate change. The target, which includes emissions from both production and customer consumption, will be achieved by becoming a “major” player in offshore wind and by restricting oil production to the least carbon intensive fields. The company said it aimed to reduce emissions released during production to net zero by 2030, through better operational efficiency, converting natural gas to hydrogen with carbon capture, or carbon offset mechanisms such as planting trees.
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.
Helmerich & Payne's (HP) operating revenues of $508.8 million from the U.S. Land segment for the fiscal first quarter are down 17.85% year over year as revenue days decline.
In Q4, Phillips 66 (PSX) generates $1.7 billion of cash from operations and returns capital worth $810 million to its stockholders through dividend payouts and share repurchases.
(Bloomberg) -- Siccar Point Energy Ltd., the North Sea oil producer backed by Blackstone Group Inc., has received final bids from suitors including Chrysaor Holdings Ltd. and Equinor ASA, people with knowledge of the matter said.Canada’s Suncor Energy Inc., Chinese oil major Cnooc Ltd. and a company backed by private equity firm HitecVision AS also submitted binding offers, the people said, asking not to be identified because the information is private. Many proposals fell short of the price expectations of Siccar Point’s owners, and some parties expressed interest only in certain assets, they said.Blackstone and Blue Water Energy LLP were earlier planning to seek about $2 billion to $3 billion from a sale of Siccar Point, the people said. They are now evaluating the bids and will decide whether to proceed with a transaction or hold on to the business for longer, the people said.Siccar Point’s owners started gauging interest from potential buyers last year. The company has grown through acquisitions including the $1 billion purchase of OMV AG’s U.K. unit in 2016, a deal that cemented its footprint in the British North Sea.Representatives for Blackstone, Chrysaor, Cnooc, Equinor, HitecVision, Siccar Point and Suncor declined to comment, while a representative for Blue Water didn’t immediately respond to a request for comment.The North Sea will continue to be an active spot for oil and gas deals this year, after $15 billion of assets changed hands in 2019, consultant Wood Mackenzie Ltd. said this month. Private-equity buyers have come in as larger companies including Exxon Mobil Corp. and Chevron Corp. sold projects to focus on more profitable regions.Siccar Point has stakes in six projects including Rosebank, one of the U.K.’s largest undeveloped fields. The company’s overall output is expected at 16,000 barrels of oil equivalent a day this, rising to 80,000 a day by the second half of the 2020s, according to documents seen by Bloomberg last year.The Rosebank and Schiehallion projects are in waters west of the Shetland islands, a less developed area where majors still hold a strong presence. BP Plc operates the Schiehallion field, while Equinor is operator of the Rosebank development.\--With assistance from Feifei Shen.To contact the reporters on this story: Laura Hurst in London at email@example.com;Dinesh Nair in London at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com, ;Ben Scent at firstname.lastname@example.org, Rakteem KatakeyFor 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.
Through this restructuring, Encana (ECA) will effectively exchange Ovintiv's one share of common stock for every five common shares of Encana.
Equinor (EQNR) receives production licenses in the Norwegian Continental Shelf to be able to utilize its current infrastructure for lucrative development.
By devising new plans and extensions, Equinor (EQNR) is creating a new ''late life'' wherein it will find innovative methods to enhance operations with low carbon footprints from late-life fields.
(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 email@example.comTo contact the editor responsible for this story: Brooke Sample at firstname.lastname@example.orgThis 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.
Equinor (EQNR) looks set to make the most of its strengths within innovation, technology and diversified industrial services to build feasible value chains.