Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Oslo Bors  >  Equinor    EQNR   NO0010096985

EQUINOR (EQNR)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Statoil : Oil Companies Position for Emerging Offshore Wind Sector

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/12/2017 | 08:24am CEST

Oil and gas operators are positioning for potential growth in US offshore wind projects.

While 88% or 14.4 GW of the global installed capacity is offshore Europe, the US could generate more than 2,000 GW of offshore wind power, Stephanie McClellan with the University of Delaware said at Renewable Energy Worlds inaugural Offshore Wind Executive Summit (OWES) in Houston.

McClellan pointed to the first operational US offshore wind farm Block Island Wind Farm in 2016 and rapidly declining costs as possible catalysts for more projects in the US. Meanwhile, Europe has witnessed strong growth in projects over the last five years, from 4.1 GW in 2011 to 14.4 GW of installed capacity in 2016.

Two European operators with deep roots in offshore oil and gas operations are actively investing in this renewable trend. Statoil recently made a strategic shift in its portfolio by separating its renewable energy business into a standalone unit, New Energy Solutions (NES). Its mandate is to focus on offshore wind, solar, and energy storage.

The operator is also working to reduce the carbon footprint of its core oil and gas business with the development of technologies for CO2 storage and injection for IOR.

Statoil is leveraging its experience in offshore oil and gas operations to advance its NES business, explained Meagan Keiser, Lead Counsel, Statoil, at OWES. This includes managing complex projects in harsh environments, applying technology to reduce costs, and leveraging its global presence and supply chain, financial strength, and safety and sustainability record, she said.

Another European operator with a background in oil and gas, DONG, is taking a different investment approach. The operator has shed its offshore oil and gas assets during the past 10 years to focus almost exclusively on wind power. It now holds the greatest market share (29%) of global installed offshore wind capacity. The operators experience in offshore oil and gas development has been a key enabler of its transformation, said Thomas Brostrm, President, North America, Wind Power, DONG Energy, at OWES. There a number of synergies between offshore oil and gas and wind operations, including logistics services, operating in harsh environments, and HSE, he said.

Both Keiser and Brostrm agreed that a key difference between offshore oil and gas and wind operations is volume. Offshore wind projects commonly require multiple installations.Oil and gas operators are positioning for potential growth in US offshore wind projects.

While 88% or 14.4 GW of the global installed capacity is offshore Europe, the US could generate more than 2,000 GW of offshore wind power, Stephanie McClellan with the University of Delaware said at Renewable Energy Worlds inaugural Offshore Wind Executive Summit (OWES) in Houston.

McClellan pointed to the first operational US offshore wind farm Block Island Wind Farm in 2016 and rapidly declining costs as possible catalysts for more projects in the US. Meanwhile, Europe has witnessed strong growth in projects over the last five years, from 4.1 GW in 2011 to 14.4 GW of installed capacity in 2016.

Two European operators with deep roots in offshore oil and gas operations are actively investing in this renewable trend. Statoil recently made a strategic shift in its portfolio by separating its renewable energy business into a standalone unit, New Energy Solutions (NES). Its mandate is to focus on offshore wind, solar, and energy storage.

The operator is also working to reduce the carbon footprint of its core oil and gas business with the development of technologies for CO2 storage and injection for IOR.

Statoil is leveraging its experience in offshore oil and gas operations to advance its NES business, explained Meagan Keiser, Lead Counsel, Statoil, at OWES. This includes managing complex projects in harsh environments, applying technology to reduce costs, and leveraging its global presence and supply chain, financial strength, and safety and sustainability record, she said.

Another European operator with a background in oil and gas, DONG, is taking a different investment approach. The operator has shed its offshore oil and gas assets during the past 10 years to focus almost exclusively on wind power. It now holds the greatest market share (29%) of global installed offshore wind capacity. The operators experience in offshore oil and gas development has been a key enabler of its transformation, said Thomas Brostrm, President, North America, Wind Power, DONG Energy, at OWES. There a number of synergies between offshore oil and gas and wind operations, including logistics services, operating in harsh environments, and HSE, he said.

Both Keiser and Brostrm agreed that a key difference between offshore oil and gas and wind operations is volume. Offshore wind projects commonly require multiple installations.

(c) 2017 MediaQuest Corp. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR -0.61% 212.8 Delayed Quote.22.20%
ORSTED 0.05% 404.5 Delayed Quote.19.37%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EQUINOR
07/21AKER : North Sea staff vote for strike
AQ
07/20EQUINOR : Equinor's share saving plan allocates shares
AQ
07/19Norway oil workers and employers agree deal, strike ends
RE
07/18AKER BP : Norwegian Petroleum Directorate - Many developments and high explorati..
AQ
07/18JACOBS ENGINEERING : to Conduct Feasibility Study for Equinor Hydrogen Plant
AQ
07/18EQUINOR : talks on plans for development of Azerbaijani oil and gas fields
AQ
07/18EQUINOR : share saving plan allocates shares
AQ
07/16Norway oil workers' strike accelerates, drillers fear contract losses
RE
07/16EQUINOR : CSOs’ advice on renewable energy
AQ
07/16EQUINOR ASA : Notifiable trading
AQ
More news
News from SeekingAlpha
07/17Markets Rise Strongly In Early July, Despite China Fears 
07/10European Oil Companies Offer Better Value Propositions Than American Ones 
07/09EQUINOR : 3 Promising Recent Developments 
07/06Equinor to buy Danske Commodities, expanding into energy trading 
07/05Cause of fatal Airbus chopper crash 
Financials ($)
Sales 2018 78 580 M
EBIT 2018 18 924 M
Net income 2018 6 062 M
Debt 2018 13 607 M
Yield 2018 3,53%
P/E ratio 2018 14,41
P/E ratio 2019 13,23
EV / Sales 2018 1,28x
EV / Sales 2019 1,22x
Capitalization 86 826 M
Chart EQUINOR
Duration : Period :
Equinor Technical Analysis Chart | EQNR | NO0010096985 | 4-Traders
Technical analysis trends EQUINOR
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 27,6 $
Spread / Average Target 6,2%
EPS Revisions
Managers
NameTitle
Eldar Sætre President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer & Executive Vice President
Hans Jacob Hegge Chief Financial Officer & Executive Vice President
Margareth Øvrum Executive VP-Technology, Projects & Drilling
Sector and Competitors
1st jan.Capitalization (M$)
EQUINOR22.20%86 826
ROYAL DUTCH SHELL7.09%293 262
PETROCHINA COMPANY-10.51%189 510
TOTAL14.24%164 009
ENI16.52%68 477
PETROLEO BRASILEIRO SA PETROBRAS12.34%67 539