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Local control of onshore and shallow water oil and gas assets is unlikely to halt attacks on Nigerian oil and gas infrastructure, but it should result in a renewed focus on increased production. Despite ongoing supply problems, new LNG capacity is being developed, both on and offshore. ....
LONDON (Reuters) -Equinor on Wednesday posted a slightly higher-than-expected operating profit for the final quarter of 2023 as output rose, but said it would cut its overall payments to shareholders in 2024 to $14 billion from $17 billion last year. The Norwegian oil and gas producer's adjusted earnings before tax for October-December fell to $8.68 billion from $17.0 billion a year earlier, but beat the $8.46 billion seen in a poll of 26 analysts compiled by Equinor. The group's combined oil and gas output grew by 2.1% in 2023 thanks to a strong finish to the year, and exceeded the company's October guidance of 1.5% growth. ....
By Dominic Chopping Equinor launched a new share buyback program after reporting forecast-beating fourth-quarter earnings, with higher oil production helping. ....