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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Equinor ASA    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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U.S. offshore energy producers brace for Hurricane Zeta impact

10/27/2020 | 07:46am EST

HOUSTON, Oct 27 (Reuters) - Energy firms and ports along the U.S. Gulf Coast prepared on Tuesday for another test as Hurricane Zeta, the 11th hurricane of the season, entered the Gulf of Mexico.

BP, Chevron and Royal Dutch Shell, among others, evacuated 157 offshore facilities and sharply cut production from the offshore region. Pipeline operator Enbridge evacuated two platforms and removed workers from a Louisiana natural gas processing plant.

Some oil producers were pulling staff for at least the sixth time since June, a process made more difficult by the COVID-19 pandemic with workers required to be tested for the virus before returning to work.

Energy producers on Tuesday shut nearly half the region's oil output, or 914,811 barrels per day (bpd), and 1.5 billion cubic feet per day, or more than half its natural gas output, the U.S. offshore energy regulator said.

U.S. Gulf of Mexico offshore oil production accounts for about 17% of total U.S. crude oil output and 5% of total U.S. dry natural gas production.

Zeta's winds decreased to 65 miles per hour (100 kph) after sweeping across the Yucatan Peninsula early Tuesday but are forecast to restrengthen to 85 mph as its churns over the central Gulf of Mexico, the NHC said in a mid-day update.

On Monday, it became the 11th hurricane of the Atlantic season, which on average has six.

A hurricane watch was issued for parts of Louisiana to the Mississippi-Alabama border by the U.S. National Hurricane Center (NHC). Zeta could hit the U.S. coast on Wednesday at or near hurricane strength, the NHC said.

Energy ports from Baton Rouge to Pascagoula were operating under advisories warning of the potential for gale force winds. A Louisiana deep water oil export port said it was implementing its inclement weather plan.

U.S. crude futures gained 1.8% in Tuesday trading after falling more than 3% on Monday over fears of rising COVID-19 cases and increased crude supplies. (Reporting by Erwin Seba Writing by Gary McWilliams Editing by David Holmes and Grant McCool)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.84% 265.3 Delayed Quote.-43.27%
CHEVRON CORPORATION -3.64% 92.14 Delayed Quote.-23.54%
EQUINOR ASA -0.75% 144.7 Delayed Quote.-16.95%
LONDON BRENT OIL -1.68% 48.03 Delayed Quote.-30.61%
ROYAL DUTCH SHELL PLC -1.15% 15.106 Delayed Quote.-41.58%
WTI -1.39% 45.115 Delayed Quote.-29.68%
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Financials (USD)
Sales 2020 45 616 M - -
Net income 2020 -2 583 M - -
Net Debt 2020 19 481 M - -
P/E ratio 2020 -21,5x
Yield 2020 2,87%
Capitalization 53 755 M 53 641 M -
EV / Sales 2020 1,61x
EV / Sales 2021 1,26x
Nbr of Employees 21 412
Free-Float 31,9%
Chart EQUINOR ASA
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Technical analysis trends EQUINOR ASA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 16,60 $
Last Close Price 16,52 $
Spread / Highest target 30,4%
Spread / Average Target 0,50%
Spread / Lowest Target -33,8%
EPS Revisions
Managers
NameTitle
Anders Opedal President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer
Svein Skeie Chief Financial Officer
Bjørn Tore Godal Independent Non-Executive Director
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PETRÓLEO BRASILEIRO S.A. - PETROBRAS-13.02%64 744