Lower oil prices and production volumes failed to offset rising natural gas prices and output at Equinor NYSE EQNR, which reported on Thursday lower-than-expected adjusted operating income, its key earnings metric, for the third quarter. The Norwegian energy giant booked an adjusted operating income of $6.89 billion for Q3, down by 13% compared to the same period of 2023, and lower than the company-compiled analyst consensus expecting $7.01 billion.
In Norway, however, the company raised its production by 2% year-over-year, thanks to record natural gas output at the Troll field and a production record at the Johan Sverdrup oilfield. In its renewables business, Equinor touted continued investments in assets and the development of low-carbon value chains. Equinor’s renewable power generation jumped by 82% year-on-year. However, the progress at Dogger Bank A, the world’s largest offshore wind farm, is slower than expected, Equinor said.
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.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Source: OilandEnergy - 🏆 34. / 68 Read more »