Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Equinor ASA
  6. News
  7. Summary
    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
  Report
Real-time Oslo Bors  -  10:27 2022-11-25 am EST
366.50 NOK   +0.96%
11/25Hopes for Black Friday Boost to Economy Nudge European Equities Higher
MT
11/25Norway's October oil, gas output lags forecast
RE
11/23China's CNOOC steps up Western retreat with launch of U.S. sale - sources
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Norway grid operator says should not curb winter power exports

09/30/2022 | 05:52am EST
FILE PHOTO: Workers lay a NordLink subsea interconnector power cable to connect Norway and Germany at the Vollesfjord fjord near Flekkefjord

OSLO (Reuters) - Norway's government should not restrict electricity exports as this could make it hard for the country to get the imports it may need this winter, grid operator Statnett said on Friday.

Statnett in May said that the electricity market in southern Norway would be "pressed" this winter, and in June Norway's energy regulator NVE asked the grid operator to investigate future options for handling a very tight power situation.

Restricting exports, which the Norwegian government has said it may do to prevent blackouts, could lead to similar measures being imposed by other countries, limiting the ability to import power from abroad when needed, Statnett said.

"We do not recommend the introduction of export restrictions," Statnett Chief Executive Hilde Tonne said while presenting other measures to ensure electricity supplies amid unusually low hydropower reservoir levels.

Hydropower accounts for more than 90% of Norwegian electricity production, but the driest 12-month period in 26 years in southern Norway has depleted reservoir levels to record lows and sent prices soaring.

"We have said several times that we can get to a situation where we might be reliant on imports this winter," Statnett's head of system operations Peer Oestli said.

In its reports, Statnett proposed instead to continue encouraging producers in southern Norway to conserve water in reservoirs, which has already resulted in multi-year low production and net imports in some weeks.

Statnett is also in talks with industry in southern Norway over options to cut consumption if necessary, aiming for an agreement before Christmas, Oestli said.

The grid company also proposed a deal with Equinor for an option to run the Mongstad gas-fired electricity plant, which has been slated for decommissioning.

Statnett did not wish to provide an estimate of the financial costs for such deals with industry and Equinor.

The proposed measures are intended to remain in place until spring 2023, Tonne said.

(Reporting by Nora Buli; Editing by Terje Solsvik and Alexander Smith)

By Nora Buli


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA 0.96% 366.5 Real-time Quote.55.36%
NVE CORPORATION -2.90% 66.24 Delayed Quote.-3.02%
All news about EQUINOR ASA
11/25Hopes for Black Friday Boost to Economy Nudge European Equities Higher
MT
11/25Norway's October oil, gas output lags forecast
RE
11/23China's CNOOC steps up Western retreat with launch of U.S. sale - sources
RE
11/23Global markets live: UBS, Apple, Nordstrom, Autodesk, Vmware...
MS
11/23Eurozone PMI Data Supports European Equities
MT
11/23Equinor Recommends Electing Haakon Bruun-Hanssen as Board Member
DJ
11/23Recommendation from Equinor's nomination committee
GL
11/23Recommendation from Equinor's nomination committee
AQ
11/23Equinor ASA Announces Board Changes
CI
11/23Equinor pledges $1.4bn backing for deepwater Arctic gas field
AQ
More news
Analyst Recommendations on EQUINOR ASA
More recommendations
Financials (USD)
Sales 2022 156 B - -
Net income 2022 24 206 M - -
Net cash 2022 16 063 M - -
P/E ratio 2022 4,65x
Yield 2022 6,90%
Capitalization 118 B 118 B -
EV / Sales 2022 0,65x
EV / Sales 2023 0,60x
Nbr of Employees 21 126
Free-Float 30,1%
Chart EQUINOR ASA
Duration : Period :
Equinor ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EQUINOR ASA
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Last Close Price 37,08 $
Average target price 38,24 $
Spread / Average Target 3,15%
EPS Revisions
Managers and Directors
Anders Opedal President & Chief Executive Officer
Torgrim Reitan Chief Financial Officer & Executive Vice President
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer
Siv Helen Rygh Torstensen Executive Vice President-Legal & Compliance
Sector and Competitors
1st jan.Capi. (M$)
EQUINOR ASA55.36%117 789
SAUDI ARABIAN OIL COMPANY2.01%1 942 987
SHELL PLC45.95%202 157
TOTALENERGIES SE30.94%152 254
PETROCHINA COMPANY LIMITED-0.58%126 284
GAZPROM-42.32%77 104