|Bid||184.80 x 200800|
|Ask||185.00 x 502000|
|Day's Range||184.45 - 186.05|
|52 Week Range||135.80 - 186.05|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.88 (4.64%)|
|1y Target Est||N/A|
Statoil (STL.OL) has begun work on a proposal to build an onshore terminal in northern Norway for handling oil from the Arctic offshore Johan Castberg oilfield and other yet-to-be-developed resources, the country's energy minister and Statoil's chief executive said on Tuesday. A report on the proposal is expected in 2019, Minister of Petroleum and Energy Terje Soeviknes told Reuters on the sidelines of a conference. "We are working together with several other licence holders and operators to see if there is a basis for building a terminal," Statoil's Chief Executive Eldar Saetre, also speaking to Reuters, said.
Norway's pipeline exports of natural gas to Europe in 2018 should match last year's record 117.4 billion standard cubic metres (bcm), the head of offshore pipeline system operator Gassco said. Exports were driven by a combination of high production and processing capacity in 2017, as well as demand for Norwegian gas in Europe, Frode Leversund told Reuters on Thursday.
Norwegian oil and gas investments will begin to rise in 2018 after falling for the last four years, helping drive output to near-record highs in the next five years, the Norwegian Petroleum Directorate (NPD) said on Thursday. By 2022, combined output volume of oil and gas from the country's fields could approach levels last seen in 2004, the highest on record, it added. Oil and gas would each account for about half of production, the regulator said.
The construction permits associated with the pipeline has been temporarily suspended since Energy Transfer (ETP) has failed to comply with the Clean Streams Law and the Dam Safety Act.
Norway's Statoil (STL.OL) may take part in the country's first tender to build floating offshore wind turbines, as long as there are sufficient long-term subsidies, Chief Executive Eldar Saetre told Reuters on Tuesday. "If there are (offshore wind) opportunities in Norway being opened with a relevant incentive structure that makes it profitable, that's obviously something that we will assess," Saetre said on the sidelines of a conference. The Norwegian state, Statoil's majority shareholder, will not have a say in the firm's renewable investments decisions, Energy Minister Terje Soeviknes separately told Reuters.
Statoil ASA (STO) stock is looking quite impressive for momentum-oriented investors as it has favorable price performance and is also seeing positive estimate revisions.
Norwegian oil companies and their suppliers will hire more people in the coming years as the industry recovers from a slump and the price of crude rises, Norway's Minister of Petroleum and Energy Terje Soeviknes told Reuters on Tuesday. "All evidence points to a significant increase in employment in the oil industry," Soeviknes said on the sidelines of a conference. In late 2017, oil firms presented new field development plans that will trigger billions of dollars of investment, and more plans are on the way in 2018.
Swiss investor Partners Group Holding AG (PGHN.S) said on Monday it had taken a 45 percent stake in a 700 megawatt (MW) offshore wind project in the Netherlands, buying partial stakes from Shell (RDSa.L), Mitsubishi and Eneco. Terms of Partners Group's participation in the "Blauwwind II" consortium were not disclosed. Project leader Shell, which last month put together a 13-bank consortium to provide 1 billion euros in funding to build it, cut its stake to 20 percent from 40 percent.
Norway’s Statoil said the reduction in the U.S. corporate-tax rate from 35% to 21% will benefit the oil-and-gas giant.
Statoil ASA, Signet Jewelers, TD Ameritrade Holding and E*TRADE Financial highlighted as Zacks Bull and Bear of the Day
Despite the strongest start for oil prices in four years, the world's top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza discoveries. Exxon Mobil (XOM.N), Royal Dutch Shell (RDSa.L), Total (TOTF.PA) and their peers are set to cut spending on oil and gas exploration for a fifth year in a row in 2018, according to consultancy Wood Mackenzie (WoodMac), despite a growing urgency to replenish reserves after years of reining back investment.
Shell (RDS.A) remains on track to meet its $30-billion global divestment target by 2018, having completed more than $23 billion divestment deals.
European stocks faltered at the start of the trading year on Tuesday as autos stocks fell and strength in the euro weighed, while trading was cautious ahead of the launch of a major reform of European Union financial markets. Autos stocks (.SXAP) were 0.1 percent lower, dented by weaker car registrations data. Basic resources stocks also bounced back from early declines with the sector index (.SXPP) rising 1.2 percent.
Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries.
The Zacks Analyst Blog Highlights: CVR Refining, Statoil ASA, HollyFrontier, CNOOC and North American Energy Partners
TechnipFMC (FTI) displays a robust backlog which is likely to contribute to the long-term earnings and cash flow visibility of the company.
Statoil ASA (STO) is seeing solid earnings estimate revision and has a favorable Zacks rank, making it well positioned for future earnings growth.