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Equinor ASA ADR EQNR Stock Quote

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Morningstar‘s Stock Analysis EQNR

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Equinor Well Positioned To Capitalize on Commodity Price Boom

Allen Good, CFA Sector Strategist

Business Strategy and Outlook

| Allen Good, CFA |

Equinor is accelerating its push into renewable energy in pursuit of its 2050 net-zero goal. Central to its strategy is growth of its burgeoning offshore wind business. While net installed capacity only stands at 0.7 gigawatts at end-2021, Equinor plans to grow that to 12-16 GW by 2030, a target it previously set for 2035. To do so, it plans to increase renewable spending from 12% of total capital investment to over 50% by 2030, including a cumulative gross $23 billion over the next five years.

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Key Statistics EQNR

Company Profile EQNR

Business Description

Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2021 (52% oil) and ended the year with 5.4 billion barrels of proven reserves (49% oil). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.

Forusbeen 50
Stavanger, N-4035, Norway
T +47 51990000
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 21,126

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