EQNR News and Press, Equinor ASA From 03/18/22

This week's DOE inventory update showed a larger than expected 5.6mb draw in oil and oil products (USO). TSA checkpoint numbers pointed to a ~7% increase in passenger volume week on week (JETS). California legislators proposed a $400 tax rebate to mitigate the impact of rising gasoline prices...

The Norwegian Petroleum Directorate released its monthly, country-wide production report for February on Friday, showing rising natural gas volumes and stable liquids volumes. Natural gas production exceeded plan by 9.3%, and rose 1.3% from January levels. Liquids production (USO) missed...

Equinor ASA (OSE: EQNR, NYSE: EQNR) presents its 2021 annual report and form 20-F, and its 2021 Sustainability report. “We present our annual reports for 2021 at a very difficult time in Europe. My thoughts are with all suffering the consequences from the invasion of Ukraine....

Norway will offer new licenses to drill for oil and gas in the Arctic, North Sea and Barents, the Government announced Thursday. In last year's round of licensing, Equinor (NYSE:EQNR), Aker BP (OTCPK:DETNF), Lundin (OTCPK:LNDNF) and Var Energies won a majority of newly awarded blocks. In the ...

As war broke out in Ukraine, Western energy companies refused to purchase Russian oil cargoes; Energy Intelligence estimated the total impact of self-sanctioning at ~2.5mb/d of oil and oil product. The group later revised its self sanctioning estimate upwards, to 3.0mb/d. The IEA Wednesday sa...

In a letter dated March 8, the European Federation of Energy Traders requested liquidity support from governments to "buffer the impact of clearing houses margin calls." The letter included an example, "an energy producer who hedges large volumes of gas and power via exchanges had to pay an i...

Equinor (EQNR +0.7%) says it is taking new steps to help meet Europe's demand for natural gas by increasing short-term production from its fields offshore Norway after receiving a permit to produce more from the Oseberg, Troll and Heidrun fields. Equinor says the adjusted permits will allow i...

Brent oil prices fell below $100/b ahead of the equity market open in the US Tuesday. European natural gas is down ~50% from week-ago levels, and seaborne thermal coal is down ~30% from recent highs. As prospects for a diplomatic solution in Ukraine rise, and energy commodities continue to fl...

The Netherlands on Monday reduced output expectations for the Groningen natural gas field, stressing that "the Groningen field will only be an option of last resort." Production at the field operated by Exxon (NYSE:XOM) and Shell (NYSE:SHEL) peaked at ~88.0bcm/y, or ~18% of Europe's current n...

Equinor (NYSE:EQNR) is "one of the best-kept secrets in the oil and gas industry," Barron's says in its latest issue, noting that the company already is realizing a financial windfall from soaring European gas prices, and if the continent is serious about reducing its exposure to Russian gas ...