Equinor Plans To Invest $5.7B-$6.7B Annually In Norway: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 26 2024
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Source: Benzinga
Investment Plans: Equinor ASA plans to invest 60-70 billion Norwegian crowns annually in offshore oil and gas projects in Norway until 2035, aiming to supply 40 billion cubic meters of gas to Europe each year and produce 1.2 million barrels of oil equivalent per day by that time.
Operational Changes: The company has canceled its investment in Vietnam's offshore wind sector while also converting a supply vessel to ammonia operation for low emissions by 2026, reflecting its ongoing commitment to fossil fuels amidst strong demand.
Analyst Views on GINX
Wall Street analysts forecast GINX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GINX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 32.474
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Current: 32.474
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
