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The energy group supported by the Norwegian state, which dropped oil from its name as part of a push to renewable energy, has returned to fossil fuels in hunting for shareholder returns.
Equinor, which was renamed Statoil in 2018, plans to increase the production of fossil fuels and to half the expenditure to renewable energy on Wednesday, and the highest management officer of Anders OPEDAL is “in the future. He said he was aiming to create shareholder value for decades.
Under new goals, the company is planning to produce 2.2 million barrels equivalent a day by 2030, 10 % higher than previous expectations.
The goal of renewable energy capacity has been reduced to 10GW-12GW from the previous goal of 12GW-16GW. Investment in renewable energy and other low -carbon technology between 2025 and 2027 will be reduced from the previous $ 10 billion to $ 5 billion, except for the financing of the project.
“Equet is suitable for further growth and competitive shareholders’ returns,” Optal said in 2024.
The group is now expecting a more powerful free cash flow, saying, “It is achieved by reducing the high grade of portfolio, renewable energy and low carbon solutions and improving the cost of the entire organization. I expect it.
OPEDAL stated that the company’s overall strategic direction has not changed, and it is aiming to reach the “Net Zero” emission by 2050.
“We continue to reduce emissions from production and continue to build highly profitable businesses with renewable energy and low -carbon solutions,” he said. “We plan to create shareholder value over the next few decades by adapting to (() market conditions and opportunities.”
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Equer’s movements have been diluted a plan that shells and BPs in response to the pressure of shareholders and to keep their fossil fuels away from fossil fuels, and then provide oil and gas -level returns.
Analysts hope that the BP will lose or reduce the goal of renewable ability this month by 2030.
VITOL, the world’s largest independent energy trader, states that this week’s global demand for oil will not fall to at least 2040, and US President Donald Trump last month to utilize national oil resources. He said he pledged a drill.
Equinor’s announcement will be made in October after saying that the world’s largest offshore wind developer ørsted has purchased nearly 10 % shares.
The movement is less expensive to develop the Equer to the goal of renewable energy and to develop the capacity alone from zero.
