Thanks to Equinor's plan to keep costs and capital spending low and focus on extracting oil at the cheapest price possible, it was able to produce loads of cash despite falling oil prices in the fourth quarter.
News & Analysis: Equinor ASA
With oil prices more than double what they were two years ago, you would think companies would be champing at the bit to start new development projects. That isn't the case at Equinor, though.
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The Norwegian oil company's second-quarter results didn't look much different from the prior quarter.
Some of the largest oil companies on the planet are investing heavily in renewable energy; others are merely going through the motions. Investors should take note.
The company's first quarter earnings results had a combination of strong earnings and cash flow to fuel growth acquisitions and clean up the balance sheet.
STO earnings call for the period ending December 31, 2017.
Rising oil prices did wonders for the Norwegian oil and gas giant this past quarter.