EnergyWatch

Equinor CEO happy with Danske Commodities

Anders Opedal says the oil company’s skilled energy trader subsidiary has in combination with Equinor’s financial strength enabled a tidy profit in a turbulent market, where many others have thrown in the towel.

Photo: Anders Lie Brenna

Equinor recently published its second-quarter report, showing operating earnings of USD 17.6bn, of course supported by extraordinarily high prices on oil and natural gas in a Europe amid an energy crisis.

Meanwhile, the ongoing turbulence and volatility of energy markets continue to pose economic challenges. As much was felt by Norwegian utility Statkraft, which published its Q2 report a week back. The state-owned power company hedges prices on a third of its generation, and thus was obliged to book a loss due to unrealized income totaling NOK -8.7bn, with Statkraft closing the quarter with a net deficit of NOK 1.2bn.

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