The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Equinor profit beats estimates as oil output tops prediction

Pubdate:2019-05-05 11:14 Source:liyanping Click:

OSLO (Bloomberg) -- Norway’s Equinor beat profit and cash-flow estimates after pumping more oil and gas than predicted.

First-quarter results at the state-controlled producer cap a mixed series of earnings for the major oil companies as the industry turns a page on the 2014-2017 downturn. Supermajors BP Plc and Royal Dutch Shell Plc met or exceeded estimates thanks to trading gains and strong natural-gas results, while Exxon Mobil Corp. had its worst refining performance in almost two decades.

“We maintain high production, continue with strong cost focus and strict capital discipline, and we are on track to deliver on our guidance from our Capital Markets Update in February," Equinor CEO Eldar Saetre said Friday in a statement.

Equinor’s adjusted net income rose to $1.54 billion in the quarter from $1.47 billion a year earlier, beating the average analyst estimate of $1.31 billion in a Bloomberg survey.

Equinor rose as much as 2% in Oslo trading, and was up 0.8% at 192.1 kroner in the Norwegian capital.

The company produced “a strong set of numbers,” Jon Masdal, an analyst at DNB ASA, said in a note. Natural-gas output in Norway helped push total production above expectations, according to RBC Capital Markets.

Output Steady

The company pumped 2.178 MMboed in the quarter, little changed from a year earlier but exceeding the average estimate of 2.163 MMboed in a company survey. It maintained plans to keep output flat this year, then increase it 3% a year on average until 2025.

Equinor also managed the fallout from a steep drop in European gas prices in the quarter, realizing the same price as a year earlier just as it boosted production of the fuel in Norway.

Equinor generated $6.5 billion in cash flow from operations, compared with a JPMorgan Cazenove prediction of $4.5 billion. The net-debt ratio shrank to 19.4% from 22.2% at the end of 2018, falling below 20% for the first time since the end of 2014. Equinor has a long-term gearing-target range of 15% to 30%.

Nevertheless, the company gave no sign it’s about to start a buyback program, with Saetre saying in an interview he’ll continue to prioritize cash dividends and debt reduction. Investors shouldn’t expect the debt ratio to “automatically go down” further, Chief Financial Officer Lars Christian Bacher said in a separate interview following an earnings presentation in Oslo.

Equinor is keeping plans to increase investment to about $11 billion this year after making drastic cuts during the market slump. The company will pay a dividend of $0.26 a share for the quarter, after deciding earlier this year to raise payouts by 13%.

主站蜘蛛池模板: 国产成人精品动图| 黄色三级电影免费观看| 色视频综合无码一区二区三区 | 亚洲人成无码网站久久99热国产 | 国产女同无遮挡互慰高潮视频 | 国产免费播放一区二区| 久久精品国产99精品国产2021| 欧美色图你懂的| 日韩黄色片网站| 国产午夜无码片在线观看| 亚洲婷婷天堂在线综合| 一本加勒比HEZYO无码人妻| 精品无人区一区二区三区| 日本护士激情xxxx| 国产乱人伦偷精品视频不卡| 亚洲成a人片77777老司机| 永久黄色免费网站| 欧洲精品久久久AV无码电影| 国产色a在线观看| 亚洲妇熟xxxx妇色黄| 亚洲综合在线另类色区奇米| 日韩网站在线观看| 国产精品亚洲精品青青青| 亚洲av日韩av综合| 香蕉一区二区三区观| 极端deepthroatvideo肠交| 国产午夜激无码av毛片| 中文字幕无码不卡免费视频| 精品一区二区三区波多野结衣| 大又大粗又爽又黄少妇毛片| 免费一级成人毛片| 一本大道在线无码一区| 狼色精品人妻在线视频| 国产精品漂亮美女在线观看| 久碰人澡人澡人澡人澡人视频| 亚洲网站www| 日本不卡视频免费| 国产人澡人澡澡澡人碰视频| 一级特黄特色的免费大片视频| 色噜噜狠狠色综合中国| 婷婷色香五月激情综合2020|