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Equinor ASA

Equinor ASA

$EQNR
NYSEEnergy

155 stories mentioning Equinor ASAUpdated 22h ago

The Norwegian energy major traded among European ADRs amid sector swings as oil prices moved on US-Iran ceasefire developments.

Commodities

Equinor Scraps Plans to Electrify Wisting Oilfield Project

Equinor (EQNR) said Thursday that it has decided to shelve plans to supply power to the Wisting oilfield from shore, citing technical complexity and high costs."Power from shore has been thoroughly assessed but was ruled out due to technical complexity and high costs. We are now continuing our work on power generation based on an energy-efficient gas turbine solution," says Trond Bokn, Equinor's senior vice president for project development.Equinor submitted an environmental impact assessment program for the proposed Wisting development to public consultation on Thursday, advancing plans for an almost 500 million-barrel oil-equivalent project.Wisting remains in the early development stage, with the partners targeting final concept selection by the end of 2026, following further improvements in the project's profitability and commercial viability, Equinor said.Wisting is the largest undeveloped oil discovery on the Norwegian continental shelf, with estimated recoverable resources of just under 500 million barrels of oil equivalent.The partners selected a floating production and storage vessel as the preferred development solution.The project will also evaluate a carbon capture and storage solution to reduce production-related carbon dioxide emissions.Equinor said the concept suits Wisting because the development involves a newbuild installation with a large power facility.The partners plan to make a final investment decision by the end of 2027, provided technological, regulatory, cost and timing requirements support a carbon capture and storage solution.The project must also meet safe and efficient operating standards in the Barents Sea.The environmental assessment proposal will remain open for public consultation for 16 weeks. Wisting's license holders are Equinor Energy with a 42.5% stake, Aker BP with 27.5%, Petoro with 20% and Inpex Idemitsu Norge with 10%.Price: $31.33, Change: $-0.27, Percent Change: -0.85%

$EQNR
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

European equities traded in the US as American depositary receipts were lower late Wednesday morning, falling 0.83% to 1,868.68 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by 3D printer company Materialise (MTLS) and medical device maker EDAP TMS (FOCL), which rose 5.5% and 4.8% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and consumer goods company Unilever (UL), which were up 1.7% and 1.3% respectively.The decliners from continental Europe were led by biopharmaceutical firm Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which dropped 5.4% and 3.5% respectively. They were followed by oil and gas company Eni (E) and telecommunications company Ericsson (ERIC), which were down 3.1% and 1.8% respectively.The gainers from the UK were led by Silence Therapeutics (SLN) and Trinity Biotech (TRIB), which surged 15% and 9.3% respectively. They were followed by Biodexa Pharmaceuticals (BDRX) and medical device maker Smith & Nephew (SNN), which advanced 4.1% and 2.4% respectively.The decliners from the UK and Ireland were led by Akari Therapeutics (AKTX) and Autolus Therapeutics (AUTL), which fell 8.7% and 3.5% respectively. They were followed by oil and gas company BP (BP) and Mereo BioPharma Group (MREO), which lost 3.1% and 2.9% respectively.

$AKTX$AUTL$BDRX$BP$CLLS$E$EQNR$ERIC$FOCL$MREO$MTLS$SLN$SNN$SQNS$TRIB$UL
Commodities

European Power Utilities Boost Focus on Transmission Investment, Storage in H1: WoodMac

European utilities have increased focus on transmission and network expansion, Wood Mackenzie said on Tuesday in a review of H1 2026, with most of the 9% increase in capital investment among the largest firms, dedicated to this.The researcher expects this trend to persist for the full year, with the capital expenditure reflecting regulatory support for investment in networks in several places as well as growing opportunities in energy storage.WoodMac notes a retreat in low-carbon technology spending among oil and gas majors, with BP (BP) having made a highly-publicized strategic shift focused more squarely on fossil fuels.With the British company's offshore wind assets housed in the Jera Nex BP joint venture and Lightsource currently undergoing a strategic view, it is feasible that the company could exit renewables entirely by the end of the year, the report said.Equinor (EQNR) and Shell (SHEL) have also been observed cutting back their commitments to low-carbon energy, favoring investments in upstream oil, Wood Mackenzie said.Regarding TotalEnergies (TTE), Eni (E) and Repsol, the report notes that each has reduced their investment budget but maintained their strategic path overall.Another trend is the prominence of investments in flexible generation and energy storage, with the most notable move that of TotalEnergies's 50% acquisition of an EPH-owned portfolio in November for 5.1 billion euros ($5.8 billion), paid in stocks.Elsewhere Enel has increased its battery energy storage targets while RWE is planning more gas capacity in Germany and preparing for more gas-fired power generation growth in the US.Expectations have grown that thermal generation will retain a larger share for longer in the power mix, especially in the US, to maintain supply flexibility.Renewables remain at the core of investment plans for most power utilities, with resilience seen in onshore wind and solar despite regulatory uncertainty and grid bottlenecks that make the power harder to deliver.Other constraints include a saturated supply chain, higher interest rates and a trend of increased curtailment.RWE is notably expected to overtake Denmark's Orsted as the global leader in offshore wind, after it clinched large contracts in the UK's AR7 auction, giving it an estimated 12 gigawatt pipeline of projects versus its Danish rival's 10 GW.

$BP$E$EQNR$SHEL$TTE
Oil & Energy

Eni to Invest in Angola Offshore Blocks With Partners

Italy's Eni (E) has reached a positive investment decision through Azule Energy for the Greater PAJ offshore development in Angola, the company said on Monday.The project in blocks 31 and 31/21 is operated by Azule and is jointly owned by Eni and BP (BP), with stakes also held by Equinor (EQNR) and Angola state-owned Sonangol E&P, it said in a statement.The project is the first integrated cross-block development in Angola and represents a coordinated approach to developing hydrocarbon resources in two neighboring concessions.It reinforces Angola's approach of efficient resource management, optimized infrastructure and sustained oil production, Eni said.With the first oil due in less than three years, in H1 2029, the project will unite five offshore fields over the two blocks, Palas, Astraea, Juno, Urano and Dione.The project will consist of 17 wells connected to a floating production, storage and offloading vessel, or FPSO, that has a nameplate capacity of 95,000 barrels per day and gas export capacity of 70 million standard cubic feet of gas per day.This will be delivered to Angola LNG through a new gas export line tied to Block 31's existing network.Price: $49.06, Change: $-0.34, Percent Change: -0.70%

$BP$E$EQNR
Commodities

Equinor, Partners to Boost Gas Output Offshore Norway

Equinor (EQNR) and its partners, Petoro, Shell (SHEL), TotalEnergies (TTE), and ConocoPhillips (COP) are investing 4 billion Norwegian krones ($413.2 million) in a Troll field project in the North Sea to boost gas production, Equinor said on Friday.The project, named Troll West Increased gas recovery North, or Twin, is expected to launch production as early as 2028.It represents third step of Troll Phase 3 and will extract gas from Troll West reservoir. It will feature two wells inside a subsea template and a pipeline connected to existing offshore facilities, the company noted.Operators expect the development to recover about 11 billion standard cubic meters of gas. The partnership is now notifying the Ministry of Energy about the development following a completed environmental impact assessment, it stated.Equinor aims to develop six to eight similar subsea projects annually through 2035, targeting an overall production level of 1.3 million barrels per day from the region.The Troll field holds roughly 40% of the total gas reserves on the Norwegian continental shelf and supplies about 10% of Europe's total gas needs.

$COP$EQNR$SHEL$TTE
Sectors

Sector Update: Energy Stocks Decline Premarket Thursday

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.6%.The United States Oil Fund (USO) was down 1.8% and the United States Natural Gas Fund (UNG) was 0.6% lower.Front-month US West Texas Intermediate crude oil was 2.3% lower at $75.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $78.39 per barrel, and natural gas futures were down 0.3% at $3.14 per 1 million British Thermal Units.Equinor (EQNR) and its partners have selected the development concept for the Ringvei Vest project in the Norwegian North Sea, which is expected to contribute about 240 million barrels of oil equivalent, the company said. Equinor stock was down more than 4% pre-bell.Venture Global (VG) signed new binding agreements with German energy company EnBW to supply 820,000 tonnes per annum of US liquefied natural gas over a period of five years beginning in 2026, the LNG producer said. Venture Global shares were 0.4% lower premarket.

$EQNR$UNG$USO$VG$XLE
Sectors

Sector Update: Energy

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.8%.The United States Oil Fund (USO) was down 1.6% and the United States Natural Gas Fund (UNG) was 0.9% lower.Front-month US West Texas Intermediate crude oil was 2.3% lower at $74.99 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.6% to $78.32 per barrel, and natural gas futures were up 0.8% at $3.17 per 1 million British Thermal Units.Equinor (EQNR) and its partners have selected the development concept for the Ringvei Vest project in the Norwegian North Sea, which is expected to contribute about 240 million barrels of oil equivalent, the company said. Equinor stock was down 4.2% pre-bell.

$EQNR
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday as Interim US-Iran Deal Lifts Risk Sentiment

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.3% in Thursday's premarket activity, as investors welcomed an interim US-Iran agreement that reduced concerns about disruptions to global energy supplies.US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1.3% before the start of regular trading.US initial jobless claims fell to a level of 226,000 in the employment survey week ended June 13 from an upwardly revised 230,000 level in the previous week, compared with expectations for a larger decrease to 225,000 in a survey of analysts compiled by Bloomberg as of 7:30 am ET.The Philadelphia Federal Reserve's monthly manufacturing index rose to 10.3 in June after decreasing to minus 0.4 in May, compared with expectations for a slightly smaller increase to a reading of 10 in a survey compiled by Bloomberg.May's leading indicators data will be released at 10:00 am ET, followed by weekly natural gas stocks at 10:30 am ET.In premarket action, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) advanced 0.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.HIVE Digital Technologies (HIVE) shares traded up 12% in early hours activity a day after the company said it received municipal approval to purchase the 32-megawatt Big Boden data center in Sweden from Bodens Utvecklings.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) gained 1.1%. The iShares Biotechnology ETF (IBB) was 0.1% higher.Legend Biotech (LEGN) stock was down more than 9% premarket after the company priced an underwritten public offering of 7.7 million American depositary shares at $29.35 each, for gross proceeds of about $226 million.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 2%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was up 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 2.1% higher, while the iShares Semiconductor ETF (SOXX) rose by 4.2%.Intel (INTC) shares were up more than 9% in premarket activity after President Donald Trump said Apple (AAPL) has "agreed to work with Intel to design and build its Chips in America." Apple stock was gaining by 0.3%.EnergyThe iShares US Energy ETF (IYE) gained by 0.03%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.5%.Equinor (EQNR) stock was down more than 3% before market open after edging down 0.2% in the prior close. The company and its partners said they have selected the development concept for the Ringvei Vest project in the Norwegian North Sea, which is expected to contribute about 240 million barrels of oil equivalent.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose 1%.Diageo (DEO) shares gained nearly 1% pre-bell after the Financial Times reported that Chief Executive Dave Lewis has ordered senior executives to implement broad cost-cutting measures as part of a major restructuring effort at the spirits giant.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1%, while the Vanguard Industrials Index Fund (VIS) was up 1.9% and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) stock was down more than 1% before the opening bell after experiencing its first post-IPO retreat from recent record highs, as market data and multiple analysts point to active put option trading and technical downward pressure following the stock's initial surge.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.9% to $75.35 per barrel on the New York Mercantile Exchange. Natural gas gained by 0.5% to $3.16 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1.2%, while the United States Natural Gas Fund (UNG) was 0.6% lower.Gold futures for July were down by 2.7% to $4,261.40 an ounce on the Comex. Silver futures retreated by 5.6% to $67.33 an ounce. SPDR Gold Shares (GLD) gained by 0.6%, and the iShares Silver Trust (SLV) was 0.02% lower.

Dow JonesNasdaq CompositeS&P 500$AAPL$BETH$BITO$DEO$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$HIVE$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEGN$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Equinor, Partners Agree on Concept for Massive Ringvei Vest Project in North Sea

Equinor (EQNR) and its partners have agreed on a subsea development concept for the Ringvei Vest project in the Norwegian North Sea, the company said on Thursday.The tie-back to the Troll B platform holds an estimated 240 million barrels of oil equivalent, marking one of the shelf's largest early-phase developments, it stated.The project scope encompasses drilling 13 wells across six subsea templates. The asset mix includes the Grosbeak, Swisher, Mulder, Kveikje, Toppand, Rover Sor, and Rover Nord discoveries, alongside the Gronngylt prospect, it said.From the Troll B hub, produced crude will be piped to the Mongstad refinery, while natural gas will stream to the Kollsnes processing plant, the company noted.Equinor said that while a decision on continuation is slated for the end of the year, definitive timelines for the final investment decision, the plan for development and operations and the start of production are not yet finalized."Equinor aims to increase our equity production from the Norwegian Continental Shelf to 1.3 million barrels per day in 2035," Kjetil Hove, Equinor's Executive Vice President for Exploration and Production Norway, said.

$EQNR
Equities

Equinor, Partners Select Development Concept for Ringvei Vest Project in Norwegian North Sea

Equinor (EQNR) and its partners have selected the development concept for the Ringvei Vest project in the Norwegian North Sea, which is expected to contribute about 240 million barrels of oil equivalent, the company said Thursday.The project will pave the way for a potential joint development of seven discoveries and one prospect to the existing Troll B platform through a subsea development, the company said.Ringvei Vest is one of the largest early-phase projects on the Norwegian continental shelf, Equinor said.The development plan includes 13 wells across six templates, with production routed to Troll B for processing and export, the company said.Equinor also said the project is designed to develop smaller discoveries near existing infrastructure and support long-term production from the Norwegian continental shelf.A decision on whether to advance the project is expected by the end of 2026.Shares of Equinor were down 2.8% in Thursday premarket trading.

$EQNR
Wire

Equinor's Strategic Update Outlined Development Pipeline, International Execution, RBC Says

Equinor's (EQNR) strategic update highlighted plans to improve underlying free cash flow and margins, supported by growth in its international upstream portfolio and a shift toward production outside the Norwegian Continental Shelf, RBC Capital Markets said in a Wednesday note.The firm said it sees Equinor's international production to rise to about 850 kboed by 2030, supported by projects including Bacalhau, Raia and Sparta, up from around 650 kboed in 2025, though still below the company's 950 kboed target. The shift could boost cash flow per barrel due to lower taxes on the international front, it added.RBC said Equinor is expected to maintain disciplined annual investment of around $12 billion, support about 5% annual dividend growth, and execute $4 billion in buybacks from 2027 under an $80 per barrel Brent assumption.The firm flagged a cautious outlook on gas market conditions and highlighted execution risks in offshore wind and international expansion, but said Equinor's strategy increases optionality through new basin entries, and growth in asset-backed trading and power segments.RBC maintained its underperform rating on the stock with a price target of 360 Norwegian kroner ($37.85).Price: $34.21, Change: $+0.37, Percent Change: +1.09%

$EQNR
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks fell late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.7%.The Philadelphia Oil Service Sector Index dropped 2.1%, and the Dow Jones US Utilities Index rose 0.6%.Oil prices fell Tuesday as a framework to end the Middle East conflict eased global supply fears. The US and Iran have agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland on Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.West Texas Intermediate crude oil shed 4.6% to $77.06 a barrel, and global benchmark Brent fell 3.9% to $79.91 a barrel. Henry Hub natural gas futures rose 3.2% to $3.25 per 1 million BTU.In sector news, the US will let Iran sell oil and fuel immediately under the deal the two nations reached to end the war, The Wall Street Journal reported.In corporate news, YPF (YPF) signed a letter of intent to explore collaborations in fast-charging networks and energy storage infrastructure, Reuters reported. Shares were declining 3%.Sable Offshore (SOC) shares fell 5.4%. The company said it has launched a senior secured term loan of up to $1 billion to refinance a secured term loan with Exxon Mobil (XOM).Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027. Shares were down 1.3%.ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported. Shares lost 1%.

$COP$EQNR$SOC$YPF
Sectors

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.7%.The Philadelphia Oil Service Sector Index was falling 2.1%, and the Dow Jones US Utilities Index rose 1.1%.Oil prices fell Tuesday as a framework to end the Middle East conflict eased global supply fears. The US and Iran have agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland on Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.Front-month West Texas Intermediate crude oil fell 6.1% to $75.82 a barrel, and the global benchmark Brent crude contract dropped 5.4% to $78.66 a barrel. Henry Hub natural gas futures rose 3% to $3.24 per 1 million BTU.In sector news, the US will let Iran sell oil and fuel immediately under the deal the two nations reached to end the war, The Wall Street Journal reported. The provision also covers necessary services to sell oil, including banking, transportation and insurance, the report said.In corporate news, Sable Offshore (SOC) shares fell nearly 6% after the company said it launched a proposed senior secured term loan of up to $1 billion to refinance a secured term loan with Exxon Mobil (XOM).Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027. Equinor shares were down 1.4%.ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported. ConocoPhillips shares were shedding 1.4%.

$COP$EQNR$SOC
Sectors

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.6%.The Philadelphia Oil Service Sector Index was falling 2.1%, and the Dow Jones US Utilities Index rose 1.1%.Oil prices fell Tuesday as a framework to end the Middle East conflict eased global supply fears. The US and Iran have agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland on Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.Front-month West Texas Intermediate crude oil fell 6.1% to $75.83 a barrel, and the global benchmark Brent crude contract dropped 5.3% to $78.73 a barrel. Henry Hub natural gas futures rose 2.9% to $3.24 per 1 million BTU.In corporate news, Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027. Equinor shares were down 1.3%.

$EQNR
Wire

Equinor to Double 2026 Share Buyback to $3 Billion; Sees Production Growth Ahead

Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027.The company said it aims to continue growing the quarterly cash dividend by more than 5$ per share annually.Equinor expects production to grow by 150,000 barrels of oil equivalent per day to 2.3 million boe per day by 2030, while power production is expected to exceed 20 terawatt-hours in 2030, mainly from projects in execution.It anticipates free cash flow, after capital expenditure and lease payments, to exceed $40 billion over the 2026 to 2030 period, the company said.Price: $33.97, Change: $-0.29, Percent Change: -0.85%

$EQNR
Commodities

Equinor Targets Higher Production in 2030 as Demand Rises

Norwegian energy company Equinor (EQNR) said Tuesday it aims to increase its production to 2.3 million barrels of oil equivalent per day by 2030, as part of its broader strategy to deliver more energy as demand grows.This represents production growth of around 150,000 barrels of oil equivalent per day, according to the company. Equinor's output reached a record high of 2.1 mmboe/d in 2025."Our strategy is to maximize value on the Norwegian continental shelf, deliver focused growth in international oil and gas, build a competitive integrated power business and create more value uplift through trading and market optimization," company president and chief executive Anders Opedal said at Equinor's capital markets day.The company noted that it will allocate around 60% of its capital budget to further develop the Norwegian continental shelf, which is now expected to produce 1.35 mmboe/d in 2030 and 1.30 mmboe/d in 2035, following a 100,000 boe/d upward revision in its outlook."Increased recovery and high exploration activity will continue to add new recoverable resources to extend longevity," Equinor said, adding that its investment opportunities have break-even prices below $35 per barrel and payback time of less than two and a half years.The company also plans to develop six to eight new tie-back projects annually through 2035.Meanwhile, its international oil and gas business is expected to receive around 30% of the capital budget, to help boost production by 30% to 950,000 boe/d by 2030.Equinor also said that around 10% of its capital budget will be allocated to its power business, which is anticipated to produce more than 20 terawatt-hours of electricity by 2030. This represents a four-fold increase in production driven by projects now being built.The company highlighted that it intends to deliver reliable supply, as electrification and artificial intelligence drive power demand and create greater need for flexible power generation.

$EQNR
Asia Markets

European Equities Traded in the US as American Depositary Receipts Surge in Monday Trading

European equities traded in the US as American depositary receipts started the week significantly higher late Monday morning, climbing 1.83% to 2,900.33 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and semiconductor company Sequans Communications (SQNS), which rose 11% and 6.7% respectively. They were followed by internet browser company Opera (OPRA) and lender Banco Santander (SAN), which were up 3.3% and 2.7% respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 5.6% and 4.3% respectively. They were followed by medical device maker EDAP TMS (FOCL) and pharmaceutical company Sanofi (SNY), which were down 1.4% and 0.6%.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which advanced 3.7% and 3% respectively. They were followed by biopharmaceutical companies Mereo BioPharma Group (MREO) and Biodexa Pharmaceuticals (BDRX), which increased 2.7% and 2.3% respectively.The decliners from the UK and Ireland were led by oil and gas companies Shell (SHEL) and BP (BP), which fell 4% and 3.3% respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which lost 2.9% and 1.3% respectively.

$AKTX$BDRX$BP$E$EQNR$FOCL$MREO$OPRA$SAN$SHEL$SLN$SNY$SQNS$TRIB$TRVG$VOD
Sectors

Sector Update: Energy Stocks Fall Premarket Monday

Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 3.5%.The United States Oil Fund (USO) was down 4.5% and the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was 5.4% lower at $80.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.8% to $83.13 per barrel, and natural gas futures were down 0.6% at $3.10 per 1 million British Thermal Units.Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported, citing people familiar with the matter. Shares of Shell were down more than 4% pre-bell.The European Commission said it has approved a joint venture between TotalEnergies (TTE) and Masdar focused on renewable energy projects in the Asia-Pacific region. TotalEnergies stock was down more than 4% premarket.Equinor (EQNR) said it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area. Equinor shares were down more than 5% pre-bell.

$EQNR$SHEL$TTE$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Amid US-Iran Ceasefire

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 2.1% in Monday's premarket activity, as the US and Iran said they have agreed to a ceasefire.US stock futures were also higher, with S&P 500 Index futures up 1.3%, Dow Jones Industrial Average futures advancing 0.9%, and Nasdaq futures gaining 2.1% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index fell to 5.7 in June from 19.6 in May, compared with a smaller expected decrease to a reading of 13.5 in a survey compiled by Bloomberg.The industrial production report for May will be released at 9:15 am ET, followed by the housing market index for June at 10 am ET.In premarket action, bitcoin was up by 3.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.2% higher, Ether ETF (EETH) advanced 5.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.4%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.2%, while the Vanguard Industrials Index Fund (VIS) rose 1.7% and the iShares US Industrials ETF (IYJ) was 0.1% higher.SpaceX (SPCX) rose more than 6% before market open after the Elon Musk-led company finished its trading debut on Friday with a 19% rise.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 2.8%, and the iShares US Technology ETF (IYW) was 2.9% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 3.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) rose 4%, while the iShares Semiconductor ETF (SOXX) increased by 4.2%.Tower Semiconductor (TSEM) shares were up more than 6% in premarket activity after the company entered into a multi-year agreement with IQE for the supply of indium phosphide epiwafers used in optical connectivity offerings for data center infrastructure.EnergyThe iShares US Energy ETF (IYE) was down 2% while the State Street Energy Select Sector SPDR ETF (XLE) was down by 2.8%.Equinor ASA (EQNR) stock was down more than 5% before the opening bell after the company said it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1.1% higher.Zymeworks (ZYME) was up more than 2% premarket a day after the biotechnology company said its drug to treat certain reproductive tract cancers has shown promise in early testing.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2% lower.Deutsche Bank (DB) shares were up more than 3% pre-bell as media outlets reported that JPMorgan Chase (JPM) and Deutsche Bank will participate in Singapore's planned gold-clearing system. JPMorgan stock was 0.8% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 1.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased by 1.1%.Tesla (TSLA) shares were up more than 1.6% pre-bell after closing Friday with a 1.8% rise. News agency Reuters claimed Monday that the electric vehicle maker relied on misleading data when it made representations to European regulators about enhanced safety from its self-driving vehicles.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 5.4% to $80.29 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.4% at $3.08 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 4.6%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for July advanced by 2.6% to $4,347.00 an ounce on the Comex. Silver futures rose by 4.1% to $70.75 an ounce. SPDR Gold Shares (GLD) was up by 3.1%, and the iShares Silver Trust (SLV) rose by 4.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$DB$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JPM$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$TSEM$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZYME
Commodities

Equinor, Partners Mature Johan Sverdrup Phase 4 Offshore Asset

Equinor (EQNR) and its joint-venture partners have initiated the formal maturation of Johan Sverdrup Phase 4 in the North Sea, aiming to sustain long-term output from Western Europe's largest oil-producing asset, the company said on Monday.The development phase follows successful appraisal drilling at the Tonjer and Geitungen prospects, which effectively de-risked reservoir uncertainties in the northernmost section of the Geitungen terrace, it added.Preliminary subsurface data pegs the combined resource upside between 20-30 million barrels of oil equivalent with engineers currently refining the data to lock in definitive production metrics, the company noted.Rather than constructing new surface assets, the Phase 4 volumes from Tonjer East, Tonjer West, and Geitungen will pipe directly back into Johan Sverdrup's massive existing processing hubs.The expansion project is advancing toward a formal Final Investment Decision, with first oil targeted for 2029, as per the statement.

$EQNR

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