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Equinor (NYSE:EQNR) +1.5% in Friday’s buying and selling after reporting higher than anticipated Q3 earnings, prompting the oil and fuel producer to spice up its extraordinary dividend.
Equinor (EQNR) stated adjusted earnings – its most well-liked measure – surged to $24.3B from $9.77B in the year-earlier quarter, above $23.5B predicted in a company-compiled consensus.
Q3 web revenue soared to $9.38B from $1.41B within the prior yr interval and effectively above $6.45B analyst consensus, and revenues surged 85% Y/Y to $42.7B.
Equinor’s (EQNR) outcomes had been helped by all-time excessive costs for European pure fuel, as the corporate’s common realized European fuel worth was 60% larger in Q3 than within the prior quarter, whereas the common realized worth for liquids fell 13%.
Q3 manufacturing totaled 2.02M boe/day, and the corporate trimmed its full-year outlook for manufacturing to develop by 1% in comparison with final yr, down from a earlier projection of two% development.
“Norway’s and Equinor’s position as a dependable vitality supplier is extra vital than ever,” CEO Anders Opedal stated, noting that Norway is offering document volumes of fuel to Europe and warning that European Union proposals to cap the worth of fuel might be “counterproductive.”
Equinor’s (EQNR) NYSE inventory worth return reveals a 36% YTD acquire and a 40% improve throughout the previous yr.
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