Equinor CEO on 4Q Earnings, 2019 Outlook, Buybacks, Capex

The transcript discusses EQUINOR's Q4 financial performance, highlighting specific issues affecting results. It outlines a strong future outlook with increased earnings and production growth, supported by the Norwegian continental shelf. The discussion covers market volatility, investment strategies, and the impact of underinvestment on oil prices. EQUINOR's capital expenditure plans and strategic priorities are compared to Shell's approach. The transcript concludes with EQUINOR's acquisition plans and involvement in US shale production, excluding the Permian due to high prices.

What were some reasons for EQUINOR's disappointing fourth-quarter financial results?

• Strong product trading

• Low exploration activity

• Quarterly specific issues and pricing structure

• High oil prices

What is EQUINOR's outlook for production growth by 2025?

• 5% production growth

• 3% production growth

• 10% production growth

• 1% production growth

How does EQUINOR plan to distribute capital to shareholders?

• By reducing dividends

• Through stock buybacks only

• By increasing cash dividends

• Through issuing new shares

What is EQUINOR's approach to managing its capital expenditure?

• Increasing costs significantly

• Reducing costs drastically

• Maintaining consistent levels and good cost control

• Ignoring cost management

How does EQUINOR's investment strategy compare to Shell's?

• EQUINOR ignores shareholder returns

• EQUINOR aims to balance dividends, growth, and debt reduction

• EQUINOR cannot manage multiple objectives

• EQUINOR focuses only on dividends

What is EQUINOR's stance on acquiring assets in the Permian Basin?

• Actively seeking opportunities

• Not a priority due to high prices

• Focusing solely on the Permian

• Already acquired significant assets

What is EQUINOR's primary focus when considering new acquisitions?

• Rapid expansion without strategy

• Expanding into new geographies

• High-quality assets and strategic fit

• Acquiring low-quality assets