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Equinor ASA has acquired a 9.8% stake in Ørsted A/S for $2.5 billion, making it the second-largest shareholder. This strategic investment aligns with Equinor's renewable energy growth plans, despite current challenges in the offshore wind industry. Equinor's shares fell 3.52% following the announcement.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 2:15 pm

Equinor ASA (NYSE:EQNR) has discovered gas and condensate in the Norwegian Sea, but its shares are trading lower premarket. The discovery is part of the Lavrans development, with estimates of 2-4 million Sm³ of recoverable oil equivalent. Equinor plans significant investments in offshore oil and gas projects in Norway until 2035. Investors can access Equinor through ETFs like SGI Enhanced Global Income ETF (NASDAQ:GINX) and Keating Active ETF (NASDAQ:KEAT).

Portfolio Pulse from Lekha Gupta

September 10, 2024 | 12:27 pm

Equinor ASA plans to invest $5.7-$6.7 billion annually in Norway's offshore oil and gas projects until 2035, aiming to produce 1.2 million barrels of oil equivalent per day. The company also plans to supply 40 billion cubic meters of gas to Europe annually. Equinor canceled its investment in Vietnam's offshore wind sector and reported Q2 adjusted revenue of $25.54 billion, beating expectations.

Portfolio Pulse from Lekha Gupta

August 26, 2024 | 3:10 pm

Equinor ASA shares rose after the company canceled its plans to invest in Vietnam's offshore wind sector due to regulatory delays. This decision marks the first time Equinor has closed an international office for offshore wind development. Equinor also recently shut down the Gullfaks C platform in the North Sea due to a well control incident. Despite these challenges, Equinor's second-quarter revenue exceeded expectations, although its EPS slightly missed. Investors can access Equinor through ETFs like SGI Enhanced Global Income ETF and Keating Active ETF.

Portfolio Pulse from Lekha Gupta

August 23, 2024 | 2:22 pm

Equinor ASA (NYSE:EQNR) has shut down production at its Gullfaks C platform in the North Sea due to a well control incident. The company evacuated some workers as a precaution and reported that gas production at the Gullfaks field will be reduced by 6.6 million cubic meters per day. Equinor's shares are down 2.62% premarket. Investors can gain exposure to Equinor via SGI Enhanced Global Income ETF (NASDAQ:GINX) and Keating Active ETF (NASDAQ:KEAT).

Portfolio Pulse from Lekha Gupta

August 19, 2024 | 9:50 am

Equinor ASA (NYSE:EQNR) reported mixed Q2 FY24 results, with a 12% Y/Y increase in adjusted revenue to $25.54 billion, surpassing expectations. Despite a slight miss on adjusted EPS ($0.84 vs. $0.85 consensus), the company saw a 3% Y/Y rise in total equity liquids and gas production. Renewables output surged 90% Y/Y. The board declared a $0.35 ordinary and $0.35 extraordinary dividend and launched a $1.6 billion share buyback program. Equinor's stock is up 0.84% premarket.

Portfolio Pulse from Lekha Gupta

July 24, 2024 | 11:25 am

Schlumberger Limited (SLB) has secured a contract from Equinor ASA (EQNR) for a 12-well, all-electric Subsea Production Systems (SPS) project in offshore Norway. This project aims to enhance operator control, operational efficiency, and reduce offshore emissions. Both SLB and EQNR shares are trading higher following the announcement.

Portfolio Pulse from Lekha Gupta

June 27, 2024 | 6:12 pm

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