Equinor sees big potential in Namibia’s PEL 90

Equinor raised its adjusted EPS forecast for 2026 and 2027 to $6.34 and $5.78, respectively, due to higher gas prices. The company expects its effective tax rate to increase to 70% in 2027, primarily due to higher taxes in Norway. Despite the upgrades, Equinor maintained a 'reduce' rating and a 407 Norwegian kroner price target.

AlphaValue/Baader Europe increased its EPS forecasts for Equinor due to higher commodity prices. The company's stock is up 0.86% today and 83.80% year-to-date on the Oslo Bors.

Equinor awarded Aibel a FEED contract for the Wisting FPSO topsides in the Barents Sea, with decisions on concept selection and execution expected by year-end. A final investment decision is likely in late 2027. The project may include carbon capture to reduce emissions. Meanwhile, the Norwegian Offshore Directorate is studying gas discoveries like Norselhøgda for potential development.

The U.K. government approved the Jackdaw natural gas project off Scotland's coast, citing energy security benefits. Production is expected to start this year, contributing 5% to U.K. gas output. Environmental groups oppose the project, arguing it conflicts with climate goals. The decision follows a court ruling that previously stalled the project. The Jackdaw field is developed by Adura, a Shell-Equinor joint venture.

Shell-backed Adura received renewed approval for the Jackdaw gas project in the North Sea, despite environmental concerns. The government acknowledges limited consumer benefits and significant greenhouse-gas effects. Shell and partner Equinor welcome the decision, seeing it as a regulatory breakthrough for their joint venture.

The U.K. approved Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field development in the North Sea, concluding a lengthy approval process.