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STOHF - Equinor: Cutting Back On Spending Is Bad Sign
Equinor ASA
Recently, Norwegian energy giant Equinor (EQNR) announced its plans to preserve capital in the face of the lowest oil prices that we have seen in a generation. For the most part, these spending cuts, which include a suspension of the share buyback program and general efficiency improvements, are quite reasonable and are what we would expect from an energy company in the current environment. I will admit though that I am concerned about its proposed cutbacks in exploration spending because of how critical this is for the company's future. In addition, the company's