29 Oct 2020
Q3: capex to increase in 2021
With higher oil prices, cash flow from operations (excluding working capital hanges) jumped by $1bn at $3.3bn. Similar to Shell, Equinor is increasing the dividend this quarter, only two quarters after cutting it. In our view this shows the willingness of Equinor to increase the pay-out now the Q2 is in the rear view. However, with the surge in Covid cases and lockdowns in Europe, it might be a tad early to call a recovery.
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Q3: capex to increase in 2021
With higher oil prices, cash flow from operations (excluding working capital hanges) jumped by $1bn at $3.3bn. Similar to Shell, Equinor is increasing the dividend this quarter, only two quarters after cutting it. In our view this shows the willingness of Equinor to increase the pay-out now the Q2 is in the rear view. However, with the surge in Covid cases and lockdowns in Europe, it might be a tad early to call a recovery.