Europe’s Fuel Squeeze Is Turning Into a Q3 Windfall for Equinor
Equinor expects its marketing, midstream, and processing (MMP) division to have earned more than the company’s guidance of $400 million for the third quarter, thanks to very strong refining margins and high proceeds from oil and LNG trading. The Norwegian major and other energy companies continue to
Equinor expects its marketing, midstream, and processing (MMP) division to have earned more than the company’s guidance of $400 million for the third quarter, thanks to very strong refining margins and high proceeds from oil and LNG trading. The Norwegian major and other energy companies continue to benefit from the high and volatile oil and LNG prices and the global fuel crunch, which has sent refining margins to record highs. The third-quarter result in the MMP division is expected to be above the guidance, amid an average…
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