Equinor's (NYSE: EQNR) disappointing 20% Y/Y drop in adjusted revenue reflects market challenges amidst falling gas prices, impacting overall earnings. Despite strong equity liquids production, the company faces a significant 49% Y/Y decline in adjusted earnings, signaling turbulent times in the energy sector.
Companies Reporting Before The Bell
• Madison Square Garden (NYSE:MSGE) is expected to report quarterly loss at $0.80 per share on revenue of $301.83 million.
Schlumberger (SLB) shares plunge 8% as Saudi Aramco suspends crude production capacity expansion amid global oil demand uncertainty; Schlumberger achieves 99% autonomous drilling success at Equinor's Peregrino C platform.
Equinor and National Grid vie for NY offshore wind projects in NYSERDA's latest solicitation, a pivotal move in the state's clean energy drive. Equinor eyes 2026 construction at South Brooklyn Terminal with commercial operations set for 2027, pending contract award. Stay updated on the race for renewable dominance.
In a cash-neutral move, Equinor and BP redefine offshore wind territories. While Equinor eyes NY's offshore ambitions, BP takes the helm of Beacon Wind projects. The deal, set to close in Q2 or Q3 2024, reshapes both companies' strategies without impacting Equinor's adjusted earnings.
Equinor ((OSE: EQNR, NYSE:EQNR) has entered into a swap transaction with bp, under which Equinor will take full ownership of the Empire Wind lease and projects and bp will take full ownership of the Beacon Wind lease and