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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP plc    BP.   GB0007980591

BP PLC

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BP : Equinor eyes $1 billion gain from offshore wind sale to BP

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09/10/2020 | 04:08am EDT

Norway's Equinor expects to book a profit of around $1 billion (768.52 million pounds) from its sale of a 50% stake in two U.S. offshore wind power developments to BP, a company executive told Reuters on Thursday.

"The capital gain is about $1 billion... It confirms that our strategy to get early access to the U.S. coast was right and it created the value," Equinor's head of renewable energy Paal Eitrheim said in an interview.

While the deal set up an offshore wind partnership between the two oil majors in the U.S., Equinor would also look for opportunities to cooperate on offshore wind elsewhere, he added.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -2.84% 232.4 Delayed Quote.-50.72%
EQUINOR ASA -1.71% 138.1 Delayed Quote.-19.80%
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Financials (USD)
Sales 2020 188 B - -
Net income 2020 -20 685 M - -
Net Debt 2020 44 545 M - -
P/E ratio 2020 -3,09x
Yield 2020 8,82%
Capitalization 59 674 M 59 544 M -
EV / Sales 2020 0,56x
EV / Sales 2021 0,45x
Nbr of Employees 67 600
Free-Float 93,2%
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Number of Analysts 22
Average target price 4,77 $
Last Close Price 2,96 $
Spread / Highest target 134%
Spread / Average Target 61,0%
Spread / Lowest Target -5,22%
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Bernard Looney Chief Executive Officer & Director
Helge Lund Chairman
Andy Hopwood COO & Executive VP-Upstream Strategy
Murray Auchincloss Chief Financial Officer
Angela Rosemary Emily Strank Chief Scientist & Head-Downstream Technology
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