Equinor to Sell Major Stake in Brazil's Peregrino Oil Field to PRIO SA

Published 11 hours agoEQNR

Equinor to Sell Major Stake in Brazil's Peregrino Oil Field to PRIO SA

Equinor has agreed to sell a 60% operated interest in Brazil's Peregrino oil field to PRIO SA for up to $3.5 billion. This deal includes a base payment of $3.35 billion from PRIO, with an additional $150 million in interest payments lined up for Equinor, as reported by Reuters.

Once the transaction is complete, PRIO will have full ownership of the Peregrino oil field. This follows PRIO's earlier acquisition of the remaining 40% stake from China's Sinochem in a $2 billion deal last year, giving the company total control over the operations. During the transition, Equinor will continue to manage the field, which is located 85 kilometers off the coast in the Campos Basin and produces approximately 110,000 barrels of oil per day, according to Offshore Technology.

The sale is part of Equinor's strategy to streamline its international portfolio, focusing on core assets while optimizing global operations through targeted divestments and acquisitions. The Peregrino field transaction marks another step in Equinor’s ongoing efforts to refine its global asset base.

Share this article

Twitter Facebook LinkedIn

Recent Articles

HSBC Navigates Economic Risks and Climate Criticism at AGM

HSBC Navigates Economic Risks and Climate Criticism at AGM

16 minutes agoHSBC

At HSBC's annual shareholder meeting on May 2, 2025, Chairman Mark Tucker addressed the bank's challenges amid global economic uncertainties. He indicated that shifting global trade relations are significant risks but expressed confidence that HSBC would achieve its 2025 targets even in the face of potential global recession threats. Reuters highlighted these remarks as the bank tries to navigate a complex economic landscape. Climate commitments were a contentious topic, with activist shareholders expressing dissatisfaction over HSBC's perceived retreat from its 2030 net-zero goal, accusing the bank of supporting fossil fuel projects. To counter these criticisms, Tucker mentioned an ongoing review of interim emissions targets, suggesting the bank is evaluating its environmental strategies and commitments. Another focal point was HSBC's leadership changes, particularly the removal of Chief Sustainability Officer Celine Herweijer from the executive committee, raising concerns about its dedication to climate initiatives. Additionally, Tucker addressed concerns from Midland Bank pensioners about pension clawback policies but stopped short of promising any reforms. Despite these pressures, all AGM resolutions were passed in line with the board's recommendations.

Paychex Boosts Quarterly Dividend by 10%

Paychex Boosts Quarterly Dividend by 10%

31 minutes agoPAYX

Paychex, Inc. has announced a significant 10% increase in its quarterly cash dividend, bringing it from $0.89 to $0.98 per share. This enhanced dividend will be available to shareholders recorded by May 10, 2024, and will be paid out on May 30, 2024. This move underscores Paychex's robust financial standing and solid cash flow capabilities, as reported by Nasdaq.com. The company anticipates distributing around $1.3 billion in dividends during the fiscal year ending May 31, 2024, continuing its tradition of consistent quarterly dividends since 1988. As a prominent provider of human capital management solutions, Paychex remains committed to shareholder value while aiming for continued growth. The firm's offerings span human resources, employee benefits, insurance, and payroll services, highlighting its strategic emphasis on comprehensive business support.

Hologic Faces Stock Decline Amidst Financial Challenges

Hologic Faces Stock Decline Amidst Financial Challenges

1 hours agoHOLX

Hologic Inc. (NASDAQ: HOLX) is experiencing a challenging period as its stock recently hit a 52-week low, trading at $57.28 as of May 2, 2025. The decline is attributed to several factors, including the impact of tariffs and geopolitical tensions. These pressures have resulted in the company's need to reassess its financial outlook. The company's stock was downgraded by major analysts, with Citigroup lowering its rating from "Buy" to "Neutral" in October 2024, expressing concerns about overestimated growth projections for fiscal year 2025, according to investing.com. Similarly, Needham downgraded the stock from "Buy" to "Hold" in March 2025, citing slower growth in the Breast Health segment and anticipated impacts from policy changes. In response to these challenges, Hologic revised its fiscal year 2025 revenue guidance in February, reducing expectations by $100 million. This decision was influenced by a stronger U.S. dollar and anticipated lower sales in the Breast Health sector. Additionally, potential tariffs on goods from Mexico and geopolitical challenges, such as disruptions with partners including PEPFAR, are expected to affect the company's financials. These external pressures, along with revised guidance, reflect the company's adaption to the current economic landscape, as reported by in.marketscreener.com.

Columbia Sportswear Announces Dividend and Reports Strong Q4 Results

Columbia Sportswear Announces Dividend and Reports Strong Q4 Results

1 hours agoCOLM

Columbia Sportswear Company has announced a quarterly cash dividend of $0.30 per share, which will be payable on March 21, 2025, to shareholders of record as of March 10, 2025. This development follows the company's steady financial performance over the past quarter. In the fourth quarter of 2024, Columbia Sportswear reported a 3% increase in net sales, reaching $1,096.6 million. Their operating income also saw a significant boost, jumping 21% to $137.3 million, while diluted earnings per share climbed 16% to $1.80. Financially, the company held $815.5 million in cash and equivalents, maintaining a debt-free status. However, for the full year 2024, net sales slightly declined by 3% to $3,368.6 million and diluted EPS fell 7% to $3.82. Looking ahead to 2025, Columbia Sportswear projects a slight increase in net sales between $3.40 billion and $3.47 billion, alongside an expected operating margin ranging from 7.7% to 8.3%. These forecasts indicate the company's commitment to improving profitability and enhancing shareholder value, as noted in their recent financial briefing by Reuters.