Equinor

KNOT Offshore Partners LP Earnings Release—Interim Results for the Period Ended September 30, 2023

Retrieved on: 
Wednesday, December 13, 2023
Maritime, Other Energy, Transport, Oil, Gas, Energy, Other Transport, EBITDA, Partnership, Sale, Employment, Master limited partnership, SOFR, FPSO, Knutsen NYK Offshore Tankers, Asset-backed security, Depreciation, Bank statement, Exercise, Shell, Repsol, GAAP, Adjustment, NYK, Total, Growth, LIBOR, Cryptocurrency, Airline, Renting, Beauty salon, Security (finance), Equinor

For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):

Key Points: 
  • For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):
    Generated total revenues of $72.7 million, operating income of $20.6 million and net income of $12.6 million.
  • Vessel operating expenses for Q3 2023 were $23.2 million, a decrease of $2.1 million from $25.3 million in Q2 2023.
  • Depreciation was $27.5 million for Q3 2023, a decrease of $0.6 million from $28.1 million in Q2 2023.
  • Interest expense for Q3 2023 was $18.5 million, an increase of $0.4 million from $18.1 million for Q2 2023.

Flow Computers Market to Reach $1,290.8 Million, by 2033 at 9.6% CAGR: Coherent Market Insights

Retrieved on: 
Wednesday, December 13, 2023
Ametek, Flow, Internet of things, Wireless, Thermo Fisher Scientific, Honeywell, Yokogawa Electric, Algorithm, Intelligence, ABB, Automation, Equinor, Water, Gas, Communication, Bluetooth, Growth, Schneider Electric, Instrumentation, Natural gas, Video game

The increasing demand for accurate measurement and monitoring of flow rates is one of the major drivers for the growth of the Flow Computers Market.

Key Points: 
  • The increasing demand for accurate measurement and monitoring of flow rates is one of the major drivers for the growth of the Flow Computers Market.
  • Flow computers are an integral part of automation systems as they enable accurate control and monitoring of flow rates.
  • With the rising focus on process optimization and cost reduction, the demand for flow computers is expected to witness significant growth.
  • In conclusion, the Flow Computers Market presents lucrative opportunities in the dominating end-use industry of oil and gas and the dominance of wireless flow computers.

Flow Computers Market to Reach $1,290.8 Million, by 2033 at 9.6% CAGR: Coherent Market Insights

Retrieved on: 
Wednesday, December 13, 2023
Ametek, Flow, Internet of things, Wireless, Thermo Fisher Scientific, Honeywell, Yokogawa Electric, Algorithm, Intelligence, ABB, Automation, Equinor, Water, Gas, Communication, Bluetooth, Growth, Schneider Electric, Instrumentation, Natural gas, Video game

The increasing demand for accurate measurement and monitoring of flow rates is one of the major drivers for the growth of the Flow Computers Market.

Key Points: 
  • The increasing demand for accurate measurement and monitoring of flow rates is one of the major drivers for the growth of the Flow Computers Market.
  • Flow computers are an integral part of automation systems as they enable accurate control and monitoring of flow rates.
  • With the rising focus on process optimization and cost reduction, the demand for flow computers is expected to witness significant growth.
  • In conclusion, the Flow Computers Market presents lucrative opportunities in the dominating end-use industry of oil and gas and the dominance of wireless flow computers.

Natural Gas Liquids (NGLs) Market size to grow by USD 19.62 billion from 2023 to 2028; Growth Driven by Increasing renewable energy demand - Technavio

Retrieved on: 
Wednesday, December 6, 2023
Citizens Energy Corporation, Carbon, Coal, Plastic, Shell plc, Natural Resources, Chevron Corporation, PDF, NGL, Shell, PJSC, Ethane, Chesapeake Energy, Propane, USD, Equinor, BP, PDVSA, Growth, Valero Energy, Atlas, TotalEnergies, SE, ExxonMobil, Gasoline, Natural gas, Marketing, Free

NEW YORK, Dec. 6, 2023 /PRNewswire/ -- The natural gas liquids (NGLs) market is expected to grow by USD 19.62 billion from 2023 to 2028, according to Technavio.

Key Points: 
  • NEW YORK, Dec. 6, 2023 /PRNewswire/ -- The natural gas liquids (NGLs) market is expected to grow by USD 19.62 billion from 2023 to 2028, according to Technavio.
  • Increasing renewable energy demand is notably driving the natural gas liquids (NGLs) market.
  • The natural gas liquids (NGLs) market is fragmented, and companies are deploying organic and inorganic growth strategies to compete in the market.
  • The gasoline as a fuel market size is estimated to grow at a CAGR of 1.06% between 2022 and 2027.

Equinor and Captura partner to develop ocean carbon removal

Retrieved on: 
Wednesday, November 1, 2023
Port, Climate, Carbon dioxide, Carbon, Atmosphere, DOC, Investment, Deep-sky object, Port of Los Angeles, Carbon cycle, Plant, Ecosystem, Partnership, LOS, CO2, Seawater, Whaling, Fine chemical, Renewable energy, Equinor, Operation Captura

LOS ANGELES and STAVANGER, Norway, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Today, multinational energy company Equinor, and Direct Ocean Capture (DOC) company Captura, announced a partnership to develop industrial scale solutions to remove carbon dioxide (CO2) from the ocean.

Key Points: 
  • LOS ANGELES and STAVANGER, Norway, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Today, multinational energy company Equinor, and Direct Ocean Capture (DOC) company Captura, announced a partnership to develop industrial scale solutions to remove carbon dioxide (CO2) from the ocean.
  • Captura’s DOC solution enhances this natural carbon removal capability, without increasing CO2 levels in the ocean.
  • We’re thrilled to be joining forces with the Equinor team to continue driving towards climate relevant carbon removal."
  • Captura is also working with Deep Sky, a Montreal-based carbon removal project developer, to build DOC plants in Canada.

Equinor to commence fourth and final tranche of the 2023 share buy-back programme

Retrieved on: 
Friday, October 27, 2023
Oslo Stock Exchange, OSE, EQNR, Security (finance), NYSE, State, Disclosure, EC, Norwegian State Educational Loan Fund, USD, EEA, NOK, Reinsurance, Pharmaceutical industry, Video game, Financial adviser, Equinor, EU

Equinor (OSE: EQNR, NYSE: EQNR) will on 30 October 2023 commence the fourth tranche of the share buy-back programme for 2023 of up to USD 1.67 billion, as announced in relation with the third quarter results on 27 October 2023.

Key Points: 
  • Equinor (OSE: EQNR, NYSE: EQNR) will on 30 October 2023 commence the fourth tranche of the share buy-back programme for 2023 of up to USD 1.67 billion, as announced in relation with the third quarter results on 27 October 2023.
  • The share buy-back programme for 2023 is structured into tranches where Equinor will buy back shares for a certain value in USD over a defined period.
  • This fourth and final tranche will complete Equinor’s announced share buy-back programme of USD 6 billion for 2023.
  • Further information about the share buy-back programme and the fourth tranche:
    The fourth tranche of the share buy-back programme for 2023 is based on an authorisation granted to the Board of Directors at the annual general meeting 10 May 2023.

Equinor ASA: Information relating to the cash dividend for third quarter 2023

Retrieved on: 
Friday, October 27, 2023
EQNR, Security (finance), Disclosure, NYSE, NOK, Equinor, Holding company

Key information relating to the cash dividend to be paid by Equinor ASA (OSE: EQNR, NYSE: EQNR) for third quarter 2023.

Key Points: 
  • Key information relating to the cash dividend to be paid by Equinor ASA (OSE: EQNR, NYSE: EQNR) for third quarter 2023.
  • Other information: the cash dividend per share in NOK will be communicated on 21 February 2024.
  • This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act.

Equinor third quarter 2023

Retrieved on: 
Friday, October 27, 2023
Dogger Bank Wind Farm, New York Public Service Commission, EQNR, MMP, NYSE, Midstream, Tax, Dogger Bank, Government, Buzzard, Use, Public expenditure, Farm, Troll, Carbon, Wind, Norwegian State Educational Loan Fund, Maintenance, Senior, Bayou Bend Collection and Gardens, NCS, Kilowatt-hour, USD, Investment, Vito, New York Stock Exchange, Marketing, Communication, Rosebank, Renewable energy, Nyhamna, Speciality chemicals, Holding company, Management, Natural gas, Petroleum, Pharmaceutical industry, Bank, Equinor, Eirin, LNG

Power production from renewable energy sources was 373 GWh in the quarter, up from 294 GWh in the same quarter last year.

Key Points: 
  • Power production from renewable energy sources was 373 GWh in the quarter, up from 294 GWh in the same quarter last year.
  • Equinor maintains a strong financial position with adjusted net debt to capital employed ratio* at negative 22.9% by the end of the third quarter, from negative 35.1% at the end of the second quarter of 2023.
  • The Equinor shares will trade ex-dividend on Oslo Børs and New York Stock Exchange from and including 14 February 2023.
  • The third tranche of the share buy-back programme for 2023 was completed on 20 October 2023 with a total value of up to USD 1.67 billion.

Kosmos Energy Announces Oil Discovery in the U.S. Gulf of Mexico

Retrieved on: 
Wednesday, October 11, 2023
Oil, Gas, Energy, KOS, Equinor, Kosmos Energy, Water, Wilcox, Gulf of Mexico, Carbon, Cosmos, Petroleum, Tiberius, Occidental

Kosmos Energy (NYSE/LSE: KOS) announced today an oil discovery in the U.S. Gulf of Mexico at the Tiberius exploration well.

Key Points: 
  • Kosmos Energy (NYSE/LSE: KOS) announced today an oil discovery in the U.S. Gulf of Mexico at the Tiberius exploration well.
  • Kosmos is operator of the well and has a 33.34% working interest alongside Occidental and Equinor ASA (both 33.33%).
  • The Tiberius exploration well tested a four-way structural trap in the outboard Wilcox trend, located in Keathley Canyon Block 964.
  • The Gulf of Mexico is an advantaged basin with top quartile carbon emissions, and discoveries like Tiberius can bring lower carbon U.S. supply to meet near-term growing oil demand.”

How oil and gas company tax reliefs could lose the UK billions

Retrieved on: 
Wednesday, October 4, 2023
Government, Kilowatt-hour, Policy, Tax, Research, Investment, HM Treasury, Comment, Renewable energy, Cryptocurrency, Marketing, Life insurance, Equinor

The UK charges a headline 75% rate of tax on all UK energy production and so, at first glance, a major project like Rosebank would be expected to generate billions in tax payments for the UK Treasury over the years.

Key Points: 
  • The UK charges a headline 75% rate of tax on all UK energy production and so, at first glance, a major project like Rosebank would be expected to generate billions in tax payments for the UK Treasury over the years.
  • Read more:
    UK energy windfall tax: what it is and why it needs to change

    Of the 75% tax that energy companies are currently charged, profits from oil and gas extraction in the UK are charged a corporate tax of 30%, supplemented by an extra 10% charge.

  • The UK rolled out an additional 25% windfall tax in 2022 for oil and gas companies in response to this profit spike.
  • When the windfall tax is added to the 30% rate and the 10% extra, that makes for a whopping 75% tax on energy companies.

Crunching the numbers

    • If an oil company makes £10 million, for example, current tax rules would claim £7.5 million from this.
    • Many players in the UK’s oil and gas sector can take advantage of a range of capital and investment allowances, deductions and taxation reliefs.
    • In fact, before the windfall tax, companies often got back more from the UK government than they paid in taxes.
    • The windfall tax will expire in 2028 or if energy prices fall below a certain level for six months.

Shortsighted or strategy?

    • This sidelines long-term vision and provides a very weak signal to companies considering investment in the UK.
    • A revolving door of UK prime ministers in recent times hasn’t helped and has also seen investors lose some confidence in the country’s economy.
    • Central to the UK’s energy strategy is an intent to ramp up extraction, ostensibly to enhance national energy security.
    • When asked about this, the Equinor spokesperson said: “Rosebank will strengthen our contributions to UK energy security.