Equinor had an adjusted operating profit of 24.3 billion dollars. That gives a result of 6.72 billion dollars after tax. The company announced this in a stock exchange announcement on Friday morning. And in Norwegian kroner, the result ends up at around 249 billion. – The very high oil and gas prices contribute to an enormously high result for Equinor, says Kyrre Knudsen, chief economist at SR-Bank. – What will they spend the money on? – They have so far been cautious about increasing their ambitions within oil and gas. They spend a lot in connection with the green shift, but primarily this brings a lot of money into the coffers for Equinor. So that they can pay off debts, save money and give extra dividends. Kyrre Knudsen is chief economist at SR-Bank. Photo: Mathias Oppedal / news Record after record The money party continues in Norway’s largest company by far. Two of the last three quarters have produced record results due to the Ukraine war and the energy crisis in Europe: CEO Anders Opedal highlights Norway and Equinor’s role as a reliable energy supplier as more important than ever in connection with the presentation of results. – Russia’s war in Ukraine has changed the energy markets, reduced energy access and increased prices. Equinor continues to deliver stable and high production, with gas volumes from the Norwegian continental shelf at record levels, he says. Anders Opedal took over as CEO of Equinor from Eldar Sætre in November 2020. After that, the world has been characterized by uncertain times, but for Norway’s largest company the money has rolled into the account. Photo: Lise Marit Kalstad / news Willing to invest in oil and gas Equinor’s result in the third quarter is better than what was predicted beforehand. The company itself reports that they have increased gas production by 11 per cent compared to the same quarter last year. – We must use these revenues to invest in the future, both in oil and gas, but also in renewables. That is why we are starting Hywind Tampen, Trollvind, renewable projects in the USA, Great Britain and Poland, says Opedal. – Doesn’t it make more sense to invest more in oil and gas in light of today’s results? – We need investments in oil and gas, but also know that the world will need less of it in the future. Therefore, we must find the balance where we increase investments in renewables, but maintain oil and gas investments. Now the company spends around 20 percent of its investments on renewable projects, but much more on oil and gas investments. The company is also increasing the extra dividend from 0.50 to 0.70 dollars per share. This comes on top of the ordinary dividend of $0.2 per share.
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The money flows in for Equinor – news Rogaland – Local news, TV and radio
