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    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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Equinor, TotalEnergies Transfer Stake in Venezuela's Petrocedeno Project to Petroleos de Venezuela

07/29/2021 | 04:01am EDT

By Dominic Chopping

Norwegian energy major Equinor ASA said Thursday it has completed the transfer of its 9.67% stake in the Petrocedeno project onshore Venezuela to Corporacion Venezolana del Petroleo, a subsidiary of Venezuelan state-owned oil and natural gas company Petroleos de Venezuela.

Equinor didn't disclose financial details, but said the deal supports its strategy of focusing on international core areas and prioritized geographies where it can leverage competitive advantages.

As a result of the deal, Equinor will no longer hold an interest in Petrocedeno.

French oil and gas company TotalEnergies also said it has decided to transfer its 30.32% interest in Petrocedeno to Corporacion Venezolana del Petroleo.

TotalEnergies said it has recognized a $1.38 billion exceptional capital loss as a result of the deal.

The Petrocedeno project aims to upgrade extra-heavy crude oil into lighter crude from the onshore Venezuelan Orinoco Belt area.

Petroleos de Venezuela now owns 100% of Petrocedeno.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

07-29-21 0401ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.48% 34584.88 Delayed Quote.13.54%
EQUINOR ASA -1.56% 201.7 Real-time Quote.39.15%
ISTOXX FP GR DEC 2.54 (EUR) -0.85% 38.34 Delayed Quote.0.00%
LONDON BRENT OIL -0.38% 75.3 Delayed Quote.46.23%
NORWEGIAN ENERGY COMPANY ASA -0.44% 137 Real-time Quote.-3.18%
S&P GSCI CRUDE OIL INDEX -0.39% 393.6204 Delayed Quote.48.60%
S&P GSCI NATURAL GAS INDEX -3.88% 240.9402 Delayed Quote.110.87%
TOTALENERGIES SE -0.85% 38.39 Real-time Quote.8.75%
WTI -0.92% 71.894 Delayed Quote.50.62%
All news about EQUINOR ASA
09/17EQUINOR : Speaker notes IR Gas Marked Update 16 Sep 2021
PU
09/17EQUINOR : JPMorgan Downgrades Equinor to Underweight from Neutral
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09/16European ADRs Move Lower in Thursday Trading
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09/16EQUINOR : Deutsche Bank Downgrades Equinor to Hold from Buy
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09/16ANALYST RECOMMENDATIONS : Activision Blizzard, Beyond Meat, Britvic, Las Vegas S..
09/16EQUINOR ASA : Notifiable trading (Form 6-K)
PU
09/16EQUINOR : IR Gas Market Update 16 September 2021
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09/16EQUINOR : Notifiable trading
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More news
Analyst Recommendations on EQUINOR ASA
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Financials (USD)
Sales 2021 73 737 M - -
Net income 2021 7 604 M - -
Net Debt 2021 7 971 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%
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 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
1st jan.Capi. (M$)
EQUINOR ASA39.15%75 538
SAUDI ARABIAN OIL COMPANY0.43%1 873 868
ROYAL DUTCH SHELL PLC17.57%154 901
PETROCHINA COMPANY LIMITED58.33%153 046
TOTALENERGIES SE8.75%118 980
PUBLIC JOINT STOCK COMPANY GAZPROM57.76%108 961