Equinor Beats Q1 Earnings Expectations as Oil and Gas Output Jumps

📆 2024/04/25 12:10:00
📰 OilandEnergy

⏱ Reading Time:
17 sec. here
9 min. at publisher
📊 Quality Score:
News: 34%
Publisher: 68%

Earnings News

Crude Oil,Natural Gas,Output

Equinor reported consensus-beating earnings for the first quarter of 2024 on the back of higher production in Norway and rising oil prices

Equinor NYSE EQNR reported on Thursday consensus-beating earnings for the first quarter of 2024, driven by higher production in Norway and rising oil prices. The Norwegian energy major booked an adjusted net income of $2.84 billion for Q1, down by 27% on the year due to lower natural gas prices in Europe this year. But the result beat the company-provided analysis consensus forecast of $2.04 billion. Adjusted pre-tax operating income of $7.

The growth was driven by increased capacity at the giant Johan Sverdrup oilfield, the ramp-up of the Breidablikk oilfield, and new wells placed on stream offshore Norway. The Vito field in the U.S. Gulf of Mexico, the Buzzard field in the UK, and new wells in Angola contributed to 3% production growth internationally.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Halliburton Beats Earnings Forecast on High Oilfield Services DemandHalliburton reported better-than-expected earnings in the first quarter, with rising international demand for oilfield services pushing its revenues 2% higher year-over-year.
Source: OilandEnergy - 🏆 34. / 68 Read more »