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    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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Equinor : PDVSA - PRESIDENT MADURO CONSIDERS THE NEGOTIATION TO PURCHASE 100% OF PETROCEDENO JOINT VENTURE AS A REAL SUCCESS

08/02/2021 | 11:31am EDT

Today, Mr. Nicolas Maduro, president of the Bolivarian Republic of Venezuela, consider as a real success the negotiation to purchase 100% of Petrocedeno company share by the Corporacion Venezolana del Petroleo (CVP), a subsidiary company of Petroleos de Venezuela, S.A. (PDVSA), which operated in partnership with Equinor from Norway and TotalEnergies from France.

Mr. Maduro stressed that 'yesterday, the signature of agreements for Venezuela to become the solely owner of Petrocedeno, the powerful oil Upgrader company, came to a successful conclusion'.

Moreover, the head of state highlighted the importance of this action for the national oil industry which is currently in a recovery stage. 'PDVSA takes over 100% of Petrocedeno's crude oil Upgrader complex, a super complex valued at over 10 billion Dollars'.

Likewise, president Maduro informed that Equinor and TotalEnergies companies, PDVSA's historic partners, will continue operating in Venezuela, in strategic areas of clean energy development.

On his side, Mr. Tareck El Aissami, Economy Sector vice-president, pointed out that Petrocedeno will be a flag for the new revolutionary beginning of the Venezuelan oil industry.

In this sense, Mr. El Aissami confirmed that 'Venezuela has been developing a strategic sovereign policy on the energy field. In this way, and in a friendly manner and perfectly agreed with these international companies, we have been able to close this negotiation yesterday, as a tribute to the birthday of our beloved Commander Hugo Chavez'.

The Economy vice-president expressed that, thanks to this action, our country 'has purchased the industrial complex Petrocedeno, as you have already said, the most important crude Upgrader in Latin America and the whole world'.

Finally, Mr. El Aissami highlighted that, along with the working class, there will be steady progress towards the recovery and sovereignty of our national hydrocarbon industry

Contact:

Tel: +58(212)7084021

Fax: +58(212)7084460

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 73 737 M - -
Net income 2021 7 604 M - -
Net Debt 2021 7 709 M - -
P/E ratio 2021 9,96x
Yield 2021 2,87%
Capitalization 75 386 M 75 538 M -
EV / Sales 2021 1,13x
EV / Sales 2022 1,10x
Nbr of Employees 21 245
Free-Float 32,6%
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Equinor ASA Technical Analysis Chart | EQNR | NO0010096985 | MarketScreener
Technical analysis trends EQUINOR ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 23,18 $
Average target price 23,13 $
Spread / Average Target -0,24%
EPS Revisions
Managers and Directors
Anders Opedal President & Chief Executive Officer
Ulrica Fearn Chief Financial Officer & Executive Vice President
Jon Erik Reinhardsen Chairman
Carri Ann Lockhart Executive VP-Technology, Digital & Innovation
Jannicke Nilsson Chief Operating Officer
Sector and Competitors
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