High Gas Prices in the 3rd quarter of Equinor Increase Share Buybacks

Norway’s Equinor recorded its strongest quarterly results in nine years on Wednesday, boosted by the global energy supply crisis that pushed Europe’s natural gas prices to record highs.

The trading company announced that it would increase proportional repurchases in the last 12 months while maintaining its quarterly dividend rate at $ 0.18 on a proportional basis.

Pre-tax adjusted earnings increased to $ 9.77 billion from July to September, projected from $ 780 million in the same period 12 months ago, according to a survey of 25 analysts surveyed by Equinor Media. Over $ 8.4 billion.

“Today’s unprecedented range and volatility of gasoline tariffs in Europe underscores market uncertainty,” Anders Oppeda, CEO, said in a statement.

“Equinor is in an important position as a reliable power source for Europe, and we are taking steps to increase fuel exports to meet the excess demand,” he added.

Global fuel prices soared within the 0.33 region, and the first month’s settlement of the European benchmark TTF was megawatts due to increased demand amid concerns about general garage stages and pre-winter Russian deliveries.

It has tripled to about 90 euros per hour (MWh). Weather heating season.

“We are benefiting from better commodity prices and are improving as our overall performance is strong. Strict capital themes and a fully strong internet currency shift are our stability. We will support the page and improve the adjusted Internet debt ratio to 13.2%,” said Anders Opedal, President and CEO of Equinor ASA.

“The international financial system is recovering, but it is organized for volatility associated with the effects of a pandemic. Today’s unprecedented ratios and volatility in European gasoline prices highlight market uncertainty. Equinor is in an important position as a reliable power source in Europe and is taking steps to increase fuel exports to meet excess demand,” said Opedal.

“The valuable Troll Phase 3 has been distributed, Martin Linge has increased, and each has supplied gasoline to Europe, where production emissions are low. Our major offshore wind efforts are on track. Working with partners, the UK’s East Coast Cluster has reached an important milestone of being selected as one of the first carbon capture, utilization, and garage groups in the country. In Norway, as a power hub for the low carbon future. We have launched a business cooperation plan for the transition of the Norwegian continental shelves,” he said.

Adjusted earnings were $ 9.77 billion within the 0.33 region, up from $ 780 million within the same length in 2020. Adjusted after-tax profit was $ 2.78 billion, up from $ 270 million over the same period in the last 12 months.

IFRS Internet revenues will be $ 9.57 billion in the 0.33 region, compared to the terrible $ 2.02 billion of the same length in 2020.

IFRS Internet revenues change to $ 1.40 billion in the 0.33 region, compared to a terrible $ 2.12. $ 1 billion in the area of ​​0.33 from 2020.

Net income from employment will be affected by better tariffs on gasoline and liquids, especially the significant comforting effects of European gasoline-related derivatives and the reversal of the $ 50 billion deficit on the Internet.

E & P, a $50 billion reversal of $ 980 million related to Norwegian foreign assets and an $ 800 million impairment related to refineries in the market entry stage, moderate flow, and processing.

Impact of all E & P segments will definitely be impacted by higher product rates. Strong overall performance, sustainable development awareness, and tight capital themes supported the emergence of additional pricing and strong currency slippage.

According to updated estimates, the tax paid on the Norwegian continental shelf in Region 4 is estimated to be approximately $ 6.32 billion (2), four of which $ 9.9 billion will be paid on October 1st.

Half of the Norwegian oil tax associated with 2021 could be paid in the first half of 2022.

The marketing, midstream, and processing phases have yielded widespread results, especially due to the market impact of derivative brands related to fuel revenues in Europe.

These benefits can be seen through common mode losses while the volume is under long-term contracts. Compared to the same region in the last 12 months, offshore wind winds have decreased during the renewable energy phase but have been partially offset by over-availability and better energy rates.

From Region 0.33, Equinor has decided to expand its scope and can exclude gains and losses from real estate income from the adjusted revenue of the renewable phase.

Equinor brought an overall fair production of 1,996 oboes per day within the 0.33 region, from 1,994 oboes per day of the same length in 2020. Sale of Bakken and closure of Hammerfest LNG.

Renewable energy capital production in the region was 304 GWh, down from 319 GWh over the same period in the last 12 months. It is affected by storms as a seasonal common.

Changes in cash flow and working capital resulting from the use of taxable running sports reached $ 10.8 billion in the 0.33 region, compared to $ 3.34 billion in the same period in 2020. The first nine months of 2021. When the area was sold, the capital-adjusted internet debt (3) was 13.2%, down from 16.4% in Area 2d in 2021.

Internet debt to equity was applied, including lease debt in compliance with IFRS 16 (3) at 20.2%.

In the region, Equinor completed market transactions for a major portion of its 2021 purchase/return ratio request for a total of $ 99 million. This represents a total of US $ 300 million as a measure to be bailed out and revoked by the Norwegian state.

Based on favorable exchange rate conditions, robust currency fluctuation technology, and adjusted Internet debt ratio (3) 13.2%, the board of directors from the significant grade of US $ 300 million reported on Capital Markets Day in June.

Decided to increase the second repurchase ratio. The US $ 1 billion as shares to be exchanged from the Norwegian state. The second section begins on October 27th and cannot be delivered after January 31st, 2022.

By abandoning an area of ​​0.33 in 2021, Equinor completed 17 exploration wells, with 6 commercial discoveries and 11 drilling holes in operation. Adjusted exploration costs within the 0.33 area were $ 210 million, compared to $ 300 million within the same.

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