EQNR

Stock Price Decline: Shares of Orsted, a wind turbine manufacturer, fell by up to 29% following the announcement of a 60 billion Danish kroner ($9.3 billion) stock sale underwritten by the Danish government.

Government Involvement: Denmark, which already holds a 50.1% stake in Orsted, plans to subscribe to more than half of the discounted stock offering, set to be priced next month.

Hammerfest LNG Resumes Operations: Equinor's Hammerfest LNG terminal, Europe's largest natural gas export facility, has resumed operations after over three months of maintenance, initially scheduled to end on July 19 but delayed.

Significance and Challenges: The plant can supply gas to 6.5 million European homes daily and constitutes about 5% of Norway's gas exports, though it has faced multiple operational disruptions due to technical issues and a major fire in recent years.

Second Quarter Earnings Overview: NOV Inc. reported second-quarter 2025 adjusted earnings of 29 cents per share, slightly missing estimates, while total revenues of $2.2 billion exceeded expectations but declined 1.3% year-over-year. The company returned $176 million to shareholders through stock repurchases and dividends.

Future Projections and Market Outlook: NOV anticipates a 1% to 3% decrease in consolidated revenues for the third quarter of 2025, with expected improvements in offshore drilling activities by mid-2026. The company plans to return at least 50% of excess free cash flow to shareholders and expects rising demand for its production technologies driven by stable commodity prices and increased investments in LNG and unconventional gas.