Equinor Profit More Than Doubles

The transcript discusses the economic outlook and energy prices, highlighting strong performance in oil and gas despite volatility. It outlines capital expenditure plans, focusing on oil, gas, and increasing investments in renewables. Challenges in the renewables sector, such as competition and seabed availability, are addressed. The progress in hydrogen and carbon capture projects is also discussed, emphasizing the need for higher carbon prices for profitability.

What factors are contributing to the strong performance in the oil and gas sector despite the maintenance season?

• High demand for renewable energy

• Recovery of oil prices and record high gas prices

• Decrease in global oil production

• Increase in coal usage

What is the company's capital expenditure guidance for 2021 and 2022?

• $9 to $10 billion

• $11 to $12 billion

• $7 to $8 billion

• $5 to $6 billion

What is one of the main challenges in the renewables sector according to the company?

• Low demand for renewable energy

• Insufficient seabed availability

• High cost of solar panels

• Lack of government support

In which area does the company have a competitive advantage in the renewables sector?

• Hydroelectric power

• Onshore wind

• Solar energy

• Offshore wind

What is necessary for the hydrogen and carbon capture projects to become profitable?

• Higher carbon prices

• Lower production costs

• Increased government subsidies

• More investment in technology