Equinor promises greater resilience, as profits disappoint
The rebranded Norwegian firm’s results take a hit from the lower oil price
Equinor reported lower than expected fourth quarter 2018 profits on Wednesday, blaming "one-off" conditions created by an oil price fall late in the year. But the Norwegian oil and gas firm's leadership urged investors to focus on its efforts to diversify and streamline to cope better with market volatility in the future. The state-owned company's share price fell as much as 3pc, after it announced quarterly earnings of $4.4bn, compared to 4bn a year earlier—analysts forecasts had centred on fourth quarter earnings of around $4.8bn. It was a disappointing end to a year in which the firm had rebranded from Statoil to Equinor as it strove to be seen as a company that is broadening beyond the h
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
