Lundin raises dividends, ready to reap fruits of merger

The Swedish oil company is currently in the midst of a larger sales process, ramping up on several parameters after prosperous 2021.

Photo: Lundin Petroleum PR

Heavily surging oil and gas prices, a production upgrade and a larger share of the large Johan Sverdrup field, which keeps performing better than expected, made 2021 a noticeably better year for Lundin Energy (formerly Lundin Petroleum) than the year before.

In the company's 2021 annual report, published Tuesday morning, the item for revenue and other income has more than doubled to USD 5.4bn. This progress also feeds into the bottom line, up from USD 382.2m in 2020 to USD 493.8m to 2021.

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