Exploration & Production

Higher gas prices boost Q2 profits for Euro majors

Rising oil and gas prices allowed European majors to boost their profits over the quarter Rising oil and gas prices allowed European majors to boost their profits over the quarter.
By Andreas Walstad 1 August 2018 0 31966

An increase in oil and gas prices in Q2 2018 compared with the same period last year helped boost profits at Europe’s majors over the period.

Equinor average invoiced gas prices

Norway’s Equinor said its average gas sales price in Europe increased by 28% year on year in Q2, mainly because of higher crude prices and tight supply resulting from maintenance at supply infrastructure. However, sales prices for North American piped gas fell by 12% over the same period, mainly because of a...