Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Equinor ASA    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Petrobras, Equinor stake out opposite renewables strategies in Brazil

12/01/2020 | 01:09pm EST

RIO DE JANEIRO, Dec 1 (Reuters) - Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities.

Castello Branco has repeatedly said Petroleo Brasileiro SA , as the company is formally known, has no comparative advantage in renewable energy and that many environmental targets put forward by its European competitors are fanciful.

His latest comments, made during a presentation to analysts and investors, also contrasted sharply with an address made by Equinor ASA CEO Anders Opedal to a Brazilian oil conference earlier in the day, in which he said the company was scouting out offshore wind opportunities throughout the South American nation.

In those comments, made during the biennial Rio Oil & Gas conference, Opedal made reference to a 2018 memorandum of understanding (MOU) signed between Equinor and Petrobras to pursue offshore wind projects in Brazil.

So far, that MOU has not resulted in any potential projects - and it appears unlikely to.

"We do not expect to invest a dollar in renewables over the next five years," Castello Branco said, while discussing the company's updated five-year business plan.

In that same presentation, which was not part of Rio Oil & Gas, Castello Branco said that Petrobras is likely to sell a clutch of offshore natural gas pipelines via an initial public offering in the third quarter of 2021. He added that his estimate could change, in part because the potential IPO requires an agreement with other stakeholders in the pipes. (Reporting by Gram Slattery Editing by Chizu Nomiyama and Paul Simao)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA -1.14% 165.1 Real-time Quote.13.90%
EURO / BRAZILIAN REAL (EUR/BRL) 1.25% 6.3926 Delayed Quote.-0.49%
LONDON BRENT OIL -2.91% 54.8 Delayed Quote.9.17%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS -4.52% 28.12 End-of-day quote.-0.78%
WTI -3.09% 52.11 Delayed Quote.11.60%
All news about EQUINOR ASA
01/15France's Total quits top U.S. oil lobby in climate split
RE
01/15Total Exits American Petroleum Institute Over Climate Change
DJ
01/15EQUINOR : Sevan SSP - Sevan awarded fatigue assessment of Norne mooring system
AQ
01/15EQUINOR ASA : - Will test floating solar off Froya
AQ
01/15EQUINOR : to Build Floating Solar Power Plant in Norway
MT
01/15Equinor, YPF to Divest 30% Stake in Argentinian Asset to Shell
MT
01/14The earnings season picks up steam
01/14Equinor to trial floating solar in rough Norwegian waters
RE
01/14SECTOR UPDATE : Energy Stocks Mostly Down Before Markets Open on Thursday
MT
01/14EQUINOR : Will test floating solar off Frøya
PU
More news
Financials (USD)
Sales 2020 45 337 M - -
Net income 2020 -2 503 M - -
Net Debt 2020 19 025 M - -
P/E ratio 2020 -25,9x
Yield 2020 2,48%
Capitalization 62 685 M 62 847 M -
EV / Sales 2020 1,80x
EV / Sales 2021 1,39x
Nbr of Employees 21 412
Free-Float 31,9%
Chart EQUINOR ASA
Duration : Period :
Equinor ASA Technical Analysis Chart | EQNR | NO0010096985 | MarketScreener
Technical analysis trends EQUINOR ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 18,79 $
Last Close Price 19,27 $
Spread / Highest target 34,5%
Spread / Average Target -2,47%
Spread / Lowest Target -43,2%
EPS Revisions
Managers and Directors
NameTitle
Anders Opedal President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer
Svein Skeie Chief Financial Officer
BjÝrn Tore Godal Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
EQUINOR ASA13.90%62 847
SAUDI ARABIAN OIL COMPANY0.00%1 864 678
ROYAL DUTCH SHELL PLC14.89%154 108
TOTAL SE5.09%117 897
PETROCHINA COMPANY LIMITED7.50%113 974
GAZPROM6.26%72 647