Given the falling gas and liquids prices, the 57% yoy fall in earnings is not surprising, nor is the 37% sequential quarterly decline. The Q2 earnings clearly showed that Equinor is pipe-locked to Europe, having to accept the market price. Therefore, we expect Equinor to continue slowly building up its gas portfolio. On the liquids side, Johan Sverdrup continues to be a great support for Norwegian liquids production, capturing the premium over Brent.
26 Jul 2023
Bidding adieu to windfall profits?
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Bidding adieu to windfall profits?
- Published:
26 Jul 2023 -
Author:
Elif Binici -
Pages:
4
Given the falling gas and liquids prices, the 57% yoy fall in earnings is not surprising, nor is the 37% sequential quarterly decline. The Q2 earnings clearly showed that Equinor is pipe-locked to Europe, having to accept the market price. Therefore, we expect Equinor to continue slowly building up its gas portfolio. On the liquids side, Johan Sverdrup continues to be a great support for Norwegian liquids production, capturing the premium over Brent.