Latest news with #KarlJohnnyHersvik
Bloomberg
07-05-2025
- Business
- Bloomberg
Aker BP CEO Says Projects Competitive Even as Oil Prices Slide
Aker BP Chief Executive Officer Karl Johnny Hersvik said the company's portfolio of projects aimed at driving production beyond 2030 remain competitive in the face of falling oil prices. Just over two years ago, Aker BP and its partners announced plans to invest about $20 billion to develop a package of fields, including Yggdrasil which is expected to come online on the Norwegian continental shelf in 2027. The average breakeven for the developments when sanctioned was $35 to $40, said the CEO, adding that the figure is falling as they get closer to completion.
Reuters
07-05-2025
- Business
- Reuters
Aker BP affirms dividend growth as Q1 profit in line
Model of Oil barrels are seen in front of AkerBP logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights , opens new tab OSLO, May 7 (Reuters) - Aker BP ( , opens new tab , Norway's second-largest listed oil company, said on Wednesday it was on track to raise its quarterly dividend payments this year by 5% compared with 2024, while reporting first-quarter profits in line with expectations. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $2.80 billion in January-March from $2.79 billion a year earlier, in line with the $2.78 billion expected in a poll , opens new tab of 18 analysts compiled by Aker BP. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Advertisement · Scroll to continue The company reported a cash flow from operations for the quarter of $2.11 billion, up from $1.46 billion one year earlier, broadly in line with analysts' predictions for $2.07 billion. It announced a quarterly dividend of $0.63 per share and maintained its plan for paying $2.52 per share this year, up from $2.40 per share during 2024. "We remain fully committed to delivering value to our shareholders through stable and predictable dividends," Aker BP's CEO Karl Johnny Hersvik said in a statement. Reporting by Nerijus Adomaitis, editing by Terje Solsvik Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Reuters
12-02-2025
- Business
- Reuters
Total, Aker BP seek bigger stakes in giant Equinor oilfield
OSLO, Feb 12 (Reuters) - TotalEnergies ( opens new tab and Aker BP ( opens new tab are seeking an independent review of their stakes in Equinor's ( opens new tab Johan Sverdrup oilfield with a goal of boosting their holdings in the North Sea's largest producing field, Aker BP said on Wednesday. Built across several offshore oil and gas licences, Sverdrup is currently owned 42.63% by its operator Equinor, while Aker BP holds 31.57%, Norwegian state-owned oil firm Petoro 17.36% and France's TotalEnergies ( opens new tab the remaining 8.44%. The owners of the field, which began producing oil in 2019, have the right to seek reviews of their stakes based on production and reservoir data. "TotalEnergies used an option to call for a redetermination process," Aker BP CEO Karl Johnny Hersvik told reporters, adding that his company supported the action. "I'm not going to speculate on the results of such a process, but obviously we wouldn't have done that if we didn't expect a positive change," Hersvik said. Sverdrup is expected to produce around 720,000 barrels of oil equivalent per day on average in 2025, close to its level in 2023-2024, Equinor said last week. Equinor did not immediately respond to a request for comment.
