Latest news with #EQNR
Yahoo
5 days ago
- Business
- Yahoo
Equinor and Centrica Ink $27 Billion Natural Gas Supply Deal for U.K.
Equinor ASA (NYSE:EQNR) has signed a new long-term deal with U.K. energy company Centrica, worth roughly £20 billion ($27.1 billion), to supply natural gas to the U.K. over the next decade. Starting October 1, the agreement is based on current market prices and will provide about 10% of the country's annual gas needs. Despite efforts to cut back on fossil fuels, around 70% of U.K. homes still rely on gas for heating, and gas power plants contribute roughly 25% of the nation's electricity. Under the agreement, Equinor ASA (NYSE:EQNR) will deliver about 5 billion cubic meters of gas per year, compared to the U.K.'s 2024 total demand of 55.8 billion cubic meters. Equinor ASA (NYSE:EQNR) Chief Executive Anders Opedal made the following statement: 'This agreement will continue to support the U.K.'s energy security with reliable gas supplies from the Norwegian continental shelf.' This deal replaces an earlier 10-year contract between the two companies that began in 2015 and ends in 2025. Last year, the U.K. imported nearly two-thirds of its gas supply, with Norway accounting for half of those imports, especially after Russian gas exports to Europe dropped following the 2022 invasion of Ukraine. EQNR has surged by over 4% in the past month. While we acknowledge the potential of EQNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Equinor ASA: Announcement of cash dividend per share in NOK for fourth quarter 2024
Equinor ASA (OSE: EQNR, NYSE: EQNR) announced on 5 February 2025 a cash dividend per share of USD 0.37 for fourth quarter 2024. The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 16 May 2025, in total seven business days. Average Norges Bank fixing rate for this period was 10.3284. Total cash dividend for fourth quarter 2024 of is consequently NOK 3.8215 per share. On 28 May 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts ("ADRs") on New York Stock Exchange. This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Yahoo
21-05-2025
- Business
- Yahoo
Equinor and Polenergia Reach Agreement on Offshore Wind Project in Poland
It was recently revealed that Equinor ASA (NYSE:EQNR) and Polenergia have reached an agreement on a wind energy project near the Polish coast. Let's shed some light on the development. A worker in a hard hat standing in front of a giant oil refinery, the stark blue sky and grey refinery in the background. It was announced on May 19, 2025, that Norway's Equinor ASA (NYSE:EQNR) and Poland's Polenergia have taken a significant step forward in advancing renewable energy in Poland by making a final investment decision to develop two offshore wind farms in the Baltic Sea. The commitment by the two energy companies marks a pivotal move in the Central European country's broader strategy to harness its substantial offshore wind potential, which the Polish Wind Energy Association estimates at 33 GW. The two wind farms, with a generation capacity of 720 MW each, are expected to cost around $7.2 billion. The projects will commence generating power in 2027 and reach full completion in 2028. Investors like Equinor ASA (NYSE:EQNR), Orsted, Orlen, and PGE are currently building 6 GW of offshore wind capacity on the Polish coast, which is expected to come online by the end of the decade. With over five decades of ocean engineering and project management expertise, Equinor ASA (NYSE:EQNR) is uniquely positioned to take a leading role in the offshore wind energy industry. The company's total renewables portfolio has the potential to produce 35-60 TWh in 2030, with two-thirds of this production coming from offshore wind. However, the Norwegian energy giant announced earlier this year that it plans to nearly halve its investments in renewables and low-carbon solutions to around $5 billion in total after project financing for 2025-2027, in an effort to boost returns for shareholders and adapt to an uneven energy transition. While we acknowledge the potential of EQNR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EQNR and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Equinor to Resume New York Offshore Wind Project
It was recently revealed that Equinor ASA (NYSE:EQNR) is set to resume construction on the Empire Wind project off the coast of New York. Let's shed some light on the development. It was announced on May 19 that the Trump administration has lifted its month-old stop-order, allowing construction to resume on Equinor ASA (NYSE:EQNR)'s Empire Wind project off the coast of New York. The $5 billion project was halted by Interior Secretary Doug Burgum in April, who claimed that the Biden administration had rushed the project's approval without sufficient environmental analysis. The latest news comes as a significant relief for Equinor ASA (NYSE:EQNR), as the company was already suggesting that it might have to terminate the project altogether after failing to meet with Burgum. The Norwegian company also claimed that the delayed construction was costing it $50 million a week. The Empire Wind project, already 30% complete, is scheduled to reach commercial operation in 2027. Once online, the project is expected to power half a million homes in New York. Anders Opedal, president and chief executive of Equinor ASA (NYSE:EQNR), stated: 'We appreciate the fact that construction can now resume on Empire Wind, a project which underscores our commitment to deliver energy while supporting local economies and creating jobs. I would like to thank President [Donald] Trump for finding a solution that saves thousands of American jobs and provides for continued investments in energy infrastructure in the US." Though the Trump administration has declared an 'energy emergency', its policies are heavily leaning towards fossil fuels and away from renewables. Wind energy, in particular, has been a frequent target of President Trump, who has often argued that wind turbines are eyesores and hurt wildlife. However, this latest development comes as a major sigh of relief for the country's offshore wind energy industry. With decades of ocean engineering and project management expertise, Equinor ASA (NYSE:EQNR) is uniquely positioned to take a leading role in the global offshore wind energy sector. The company's total renewables portfolio has the potential to produce 35-60 TWh in 2030, with two-thirds of it coming from offshore wind. However, the Norwegian energy major announced earlier this year that it plans to nearly halve its investments in renewables and low-carbon solutions to around $5 billion in total after project financing for 2025-2027, in an effort to boost returns for shareholders and adapt to an uneven energy transition. While we acknowledge the potential of EQNR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EQNR and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None.
Yahoo
20-05-2025
- Business
- Yahoo
Equinor and Polenergia Reach Agreement on Offshore Wind Project in Poland
It was recently revealed that Equinor ASA (NYSE:EQNR) and Polenergia have reached an agreement on a wind energy project near the Polish coast. Let's shed some light on the development. A worker in a hard hat standing in front of a giant oil refinery, the stark blue sky and grey refinery in the background. It was announced on May 19, 2025, that Norway's Equinor ASA (NYSE:EQNR) and Poland's Polenergia have taken a significant step forward in advancing renewable energy in Poland by making a final investment decision to develop two offshore wind farms in the Baltic Sea. The commitment by the two energy companies marks a pivotal move in the Central European country's broader strategy to harness its substantial offshore wind potential, which the Polish Wind Energy Association estimates at 33 GW. The two wind farms, with a generation capacity of 720 MW each, are expected to cost around $7.2 billion. The projects will commence generating power in 2027 and reach full completion in 2028. Investors like Equinor ASA (NYSE:EQNR), Orsted, Orlen, and PGE are currently building 6 GW of offshore wind capacity on the Polish coast, which is expected to come online by the end of the decade. With over five decades of ocean engineering and project management expertise, Equinor ASA (NYSE:EQNR) is uniquely positioned to take a leading role in the offshore wind energy industry. The company's total renewables portfolio has the potential to produce 35-60 TWh in 2030, with two-thirds of this production coming from offshore wind. However, the Norwegian energy giant announced earlier this year that it plans to nearly halve its investments in renewables and low-carbon solutions to around $5 billion in total after project financing for 2025-2027, in an effort to boost returns for shareholders and adapt to an uneven energy transition. While we acknowledge the potential of EQNR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EQNR and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
