|Bid||49.42 x 24600|
|Ask||41.29 x 50900|
|Day's range||45.35 - 46.98|
|52-week range||37.27 - 51.26|
|Beta (3Y monthly)||1.13|
|PE ratio (TTM)||8.68|
|Earnings date||30 Oct 2019|
|Forward dividend & yield||1.75 (3.74%)|
|1y target est||N/A|
Equinor will get a 2.33 billion Norwegian crowns ($260 million) subsidy for its planned construction of floating wind turbines that will supply power to North Sea oil platforms, Norwegian state investment agency Enova said on Thursday. Part of a strategy to curb greenhouse gas emissions, the project could reduce Norway's emissions of carbon dioxide by more than 200,000 tonnes per year, Equinor said last year.
The Nord Stream 2 natural gas pipeline project's operator said on Thursday it was assessing a U.S. bill passed by a Senate panel that proposes to impose sanctions on it, but said all parties involved remained committed to finish the route. A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the pipeline from Russia to Germany that the Trump administration says would strengthen Moscow's economic grip on Europe. Nord Stream 2 and another Russian gas export project, TurkStream, are designed to bypass Ukraine, Moscow's key gas export route to Europe.
A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the Nord Stream 2 gas pipeline from Russia to Germany that the Trump administration says would strengthen Moscow's economic grip on Europe. The Senate Foreign Relations Committee passed the "Protecting Europe's Energy Security Act," by a vote of 20 to 2. A companion bill passed the House Foreign Affairs Committee last month.
(Bloomberg) -- Libya’s oil production dropped to about 950,000 barrels a day, its lowest in five months, after an unidentified group closed a valve on a pipeline linking the country’s largest oil field to an export terminal on the Mediterranean.The Sharara field started shutting down at 10 p.m. on Tuesday, with Libya’s National Oil Corp. subsequently declaring force majeure on loading of the crude at Zawiya port. The deposit, which can pump about 300,000 barrels daily, is operated by a joint venture between the NOC and Total SA, Repsol SA, OMV AG and Equinor ASA.Staff have tried to reopen the valve but are being prevented by armed men, the NOC said in a statement. Negotiations are underway “in an effort to restart production as soon as possible,” it said.Force majeure is a legal status protecting a party from liability if it can’t fulfill a contract for reasons beyond its control. Sharara, which is in southwestern Libya, briefly stopped production about 11 days ago when a group shut a valve.The country’s current, reduced output figure was confirmed by a person with knowledge of the situation who lacked authorization to speak to media and asked not to be identified.Biggest ReservesLibya holds Africa’s largest proven oil reserves but has endured severe disruptions to its output and exports due to battles and blockades among rival armed groups. Earlier in July, before the first halt of the month at Sharara, the NOC said oil production was about 1.3 million barrels a day -- its highest in six years but still well below the level of output before the civil war that overthrew veteran President Moammar Al Qaddafi in 2011.Sharara has experienced sporadic shutdowns as various groups press political or financial demands. Production there stopped for three months late last year after guards and armed residents seized the field and demanded payments, costing the NOC about $1.8 billion in lost oil sales.“This latest incident only serves to highlight the fragility of our security environment,” NOC Chairman Mustafa Sanalla said in the statement. “The loss of production at Libya’s largest oilfield severely disrupts power supply to the grid and continued funding of basic services. This is most acutely felt by communities in the south.”OMV lowered its production forecast on Wednesday, citing a first-quarter shutdown in Libyan production as one of the main reasons. Although that particular incident was resolved, the security situation in Libya has affected the Vienna-based company’s output, Chief Executive Officer Rainer Seele said in an interview.Libya’s oil revenue is expected to drop by as much as 17% in 2019 to $20 billion as a result of disruptions in output, Tripoli-based central bank Governor Sadiq Al-Kabir said in an interview last week.(Updates with NOC statement in third paragraph.)To contact the reporters on this story: Salma El Wardany in Cairo at email@example.com;Hatem Mohareb in Ajdabiya at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, Bruce Stanley, Michael GunnFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The European Commission defended on Friday a new European Union natural gas law, which has been challenged by the Russian-led Nord Stream 2 pipeline, saying it is in line with the bloc's agreements abroad. "The EU now has clear rules that apply to all pipelines used to import gas into the European market," a Commission spokeswoman said. "The Commission considers that directive 2019/692 is fully compatible with the EU's international obligations," the spokeswoman said.
A Russian-led project to lay a new gas pipeline to Europe is taking the European Union to court to challenge new rules it says endanger its business model, opening a new front in a fight that has divided EU nations. Nord Stream 2 said on Friday that it had asked the Court of Justice of the European Union to annul an EU gas directive amendment enforcing measures including a requirement for pipelines not be owned directly by gas suppliers and for at least 10 percent of capacity be made available to third parties. The pipeline will be both owned and operated by Russian gas export monopoly Gazprom, though 50% of the funding is provided by Germany's Uniper and BASF's Wintershall unit, as well as Anglo-Dutch oil major Shell , Austria's OMV and France's Engie.
European Union member states should brace for U.S. tariffs on several fronts in the months ahead, a senior German official warned late on Tuesday, just hours before Washington launched a probe of a planned French digital tax that could trigger future tariffs. Peter Beyer, Germany's transatlantic coordinator and member of parliament, said while there was continued U.S. interest in dialogue with Europe, the Trump administration nonetheless appeared poised to impose tariffs over disputes about aircraft subsidies, the Nordstream 2 gas pipeline and European car imports.
After years of largely banking on low-cost Russia for growth, OMV is shifting attention towards the Middle East as its chemist chief executive chases his vision of making the Austrian oil and gas group a major supplier of plastics. OMV boss Rainer Seele has spent more than 4 billion euros ($4.5 billion) - 40% of the group's M&A budget until 2025 - for oil and gas concessions in the region, a 15% stake in Abu Dhabi National Oil Co's (ADNOC) refining business and a to-be-formed trading joint venture with ADNOC and Italy's Eni.
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Malaysia's largest oil and gas services company Sapura Energy on Monday reported a profit for the fourth quarter on gains from disposal of a subsidiary stake, after five consecutive quarters of losses. Sapura's declared net profits of 500.4 million ringgit ($123.01 million) for the quarter ended January, it said in a stock exchange filing on Monday, versus a net loss of 2.29 billion ringgit in the same period last year. Sapura said in a statement that new contract wins in 2019 had lifted its orderbook to its highest in two years, and hopes to aggressively pursue new opportunities in the Middle East, Africa, Asia Pacific, Europe and the Americas.
Murphy Oil Corp is exiting Malaysia with a $2.13 billion sale of its oil and gas assets there to Thailand's PTTEP and said it will use the proceeds to pay down debt, buy back shares and fund potential deals in the United States. The deal between Murphy and PTTEP comes as M&A activity is heating up in Malaysia's oil and gas sector, where global companies pursuing expansion plans are spotting opportunities.
DUBAI/ABU DHABI, March 14 (Reuters) - Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB. "We have suspended any activities with Goldman Sachs pending outcome of the litigation," Brian Lott, spokesman of Mubadala Investment Co, said in response to questions from Reuters.
LONDON/DUBAI, Feb 20 (Reuters) - Saudi Aramco’s trading arm plans to open an office in London soon as it expands its international business, sources familiar with the move said. Aramco Trading Co (ATC (Shenzhen: 002227.SZ - news) ) also opened an office in the bunkering hub of Fujairah, United Arab Emirates in December to trade oil products and hired two traders from Trafigura and PetroChina (HKSE: 0857-OL.HK - news) to run operations there, the sources said. "Last June, a trading office was inaugurated in Singapore, and last December (another) in Fujairah and very soon in London, just like any trading house," one of the sources said.
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German cars do not pose a security threat to the United States, Chancellor Angela Merkel said on Saturday (Shenzhen: 002291.SZ - news) as she appealed for global cooperation on a range of issues from dealing with Iran to preventing another migrant crisis. "We are proud of our cars and so we should be," Merkel said, adding, however, that many were built in the United States and exported to China. "If that is viewed as a security threat to the United States, then we are shocked," she told the Munich Security Conference to applause from the audience.
BRUSSELS/COPENHAGEN, Feb 13 (Reuters) - The European Union reached a provisional deal on Wednesday on new rules governing import gas pipelines, casting doubt over the operating structure of Russia's planned Nord Stream 2. The Russian pipeline already faces uncertainty after Denmark's potential ban on its planned route through its territorial waters and sanction threats by the United States.
BRUSSELS/LONDON, Feb 13 (Reuters) - The European Union has convened a wide-ranging industrial group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader tensions with Washington over trade and sanctions. The group, which involves executives from European oil firms such as OMV (IOB: 0MKH.IL - news) and Eni (LSE: 0N9S.L - news) and gas and power firms such as Fluxys and Engie (LSE: 0LD0.L - news) , will meet behind closed doors in Brussels under the auspices of the European Commission on Thursday. Participants are invited to dig into "constraints on (market-initiated) alternatives to the use of U.S. dollar through wider use of the euro, in spite of the benefits of such a change", the Commission said in materials prepared for the meeting.
European Union nations backed a plan to regulate Russia's Nord Stream 2 pipeline on Friday, a move that will likely slow but not rule out its construction. The long-stalled agreement comes after a last-ditch German and French push to amend the draft and give Berlin a greater say in how to ensure the pipeline to carry Russian gas to Europe under the Baltic Sea complies with EU law. Chancellor Angela Merkel hailed the vote as an example of Berlin's close ties with Paris after the two major European powers, which both have firms invested in the project, were publicly at odds ahead of the EU meeting.
Germany and France are in constant contact on Russia's Nord Stream 2, a German government spokesman said on Friday after France said it would back an EU proposal to regulate the gas pipeline. Government ...