Norway's energy major has cut its full-year production guidance for both crude oil and natural gas, expecting it to grow at 1.5% rather than 3%.
Norway’s energy major Equinor cut its full-year production guidance for both oil and gas, now expecting output to grow by 1.5% rather than 3% as earlier expected. At the release of its third-quarter results, the company also noted that its gas production had been affected by planned maintenance activities and extended turnarounds.
02 billion, compared to an expected $7.59 billion. Still, due to oil and gas prices declining from a year ago, the result was much lower than the figure for Q3 2022, which stood at $24.5 billion. The company, which has replaced Russia’s Gazprom as the biggest pipeline gas supplier to Europe, recently got the go-ahead for the biggest new oil development in the UK section of the North Sea—the Rosebank field.
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