Thank You. Interesting article, makes me want to investigate EQNR more. Whats interesting to me regardless PBR this weekend is the price action on BAK last week vs PBR’s 36% ownership.
I am not familiar with $EQNR. Its high ROCE might have something to do with the high natural gas price that it sold to other European countries last year. Its pre-tax earnings from its Norway E&P operation went up to $66,260 million in 2022 from $14,887 million in 2021. Its earnings from other parts of the world were also up but they were roughly similar to growth of other IOCs.
That's what I suspect too. They seem to have a massive cash balance (see financial investments). It's also a state-owned company so I am not sure how much of that can return to shareholders. Norway's situation is unique and worth looking into. The best opportunity might be in the currency.
Thank You. Interesting article, makes me want to investigate EQNR more. Whats interesting to me regardless PBR this weekend is the price action on BAK last week vs PBR’s 36% ownership.
I am not familiar with $EQNR. Its high ROCE might have something to do with the high natural gas price that it sold to other European countries last year. Its pre-tax earnings from its Norway E&P operation went up to $66,260 million in 2022 from $14,887 million in 2021. Its earnings from other parts of the world were also up but they were roughly similar to growth of other IOCs.
That's what I suspect too. They seem to have a massive cash balance (see financial investments). It's also a state-owned company so I am not sure how much of that can return to shareholders. Norway's situation is unique and worth looking into. The best opportunity might be in the currency.
PBR is also state-owned, at least the majority is ;)
Sure. But the fiscal position could be totally different. The Norwegian government may not need the money.