Equinor Aims To Become Net Zero Energy Company By 2050

(RTTNews) - Equinor (EQNR) said it aims to become a net zero energy company by 2050, including emissions from production and final consumption. It also aims to reduce net carbon intensity with 20% by 2030 and 40% by 2035.

Equinor expects gross investments in renewables of around $23 billion from 2021 to 2026, and to increase the share of gross capex for renewables and low carbon solutions from around 4% in 2020 to more than 50% by 2030.

Equinor has decided on a quarterly cash dividend of 18 cents per share for second quarter 2021, an increase of 3 cents from first quarter.

The Board has also decided to introduce a new annual share buy-back programme of around $1.2 billion starting from 2022. In addition, Equinor expects to execute two tranches of share buy-backs in 2021, with a first tranche of $300 million to be launched after announcement of second quarter results, and an indicative second tranche of $300 million to be launched after announcement of third quarter results.

Organic capital expenditures are estimated at an annual average of $9 billion - $10 billion for 2021-2022 and at around $12 billion for 2023 - 2024.