|Bid||0.00 x 0|
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|Day's Range||16.28 - 16.28|
|52 Week Range||10.76 - 17.24|
|Beta (5Y Monthly)||N/A|
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Norway's Equinor and France's Engie will work together to develop ways to produce hydrogen with low carbon emissions, the two companies said on Thursday. The partners will investigate the production and market potential for so-called "blue" hydrogen derived from natural gas, whereby resulting carbon emissions are captured and stored permanently offshore. The companies said they would start discussions with potential customers in Belgium, the Netherlands and France to assess the viability of the project, as well as with stakeholders and relevant authorities.
Norway's Equinor is looking to sell more assets in the United States and exit several other countries as part of a major global reshuffle as it tries to return to profit after writing down $25 billion of U.S. assets over the past decade. While the company, like other energy majors, has been hit by last year's fall in oil and gas prices, Equinor's new head of international business, Al Cook, said it lacked scale in the U.S. shale market and had underestimated the strength of local competition. Equinor disposed of its operated shale assets in the Eagle Ford in 2019, and last week said it had agreed to sell its assets in the Bakken shale oil province in the states of North Dakota and Montana for around $900 million.
With the installation of the Biden administration, the U.S. offshore wind energy industry is looking at a period of expansion