European oil giants step back from renewables path [Yahoo! Finance]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Yahoo! Finance
The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay investor concerns over future profits. Rivals Shell and Norway's state-controlled Equinor are also scaling back energy transition plans set out earlier this decade. Their change of direction reflects two major developments - the energy shock from Russia's invasion of Ukraine and a drop in profitability for many renewables projects, particularly offshore wind, due to spiralling costs, supply chain issues and technical problems. BP CEO Murray Auchincloss plans to plough billions into new oil and gas developments, including in the U.S. Gulf Coast and the Middle East, as part of his drive to improve performance and boost returns. BP has also slowed down low-carbon operations, halting 18 early-stage potential hydrogen projects and announcing plans to sell wind and solar operations. It has recently cut its hydrogen team in London
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EQNR
News
- Norway's Equinor Cuts 20% of Renewable Energy Staff [Yahoo! Finance]Yahoo! Finance
- Norway's Equinor cuts 20% of staff at its renewable energy division [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Oil prices firm as geopolitical tensions raise supply concerns [CNBC]CNBC
- Oil prices firm as geopolitical tensions raise supply concerns [Yahoo! Finance Canada]Yahoo! Finance Canada
- Oil prices firm as geopolitical tensions raise supply concerns [Yahoo! Finance Canada]Yahoo! Finance Canada
EQNR
Earnings
- 10/24/24 - Beat
EQNR
Sec Filings
- 11/20/24 - Form 6-K
- 11/19/24 - Form 6-K
- 11/19/24 - Form 6-K
- EQNR's page on the SEC website