NCS to play pivotal role in European energy - DNB ups Equinor, AkerBP

Orron Energy AB

18/05/2022 12:18

** DNB Markets upgrades Norwegian exploration & production
(E&P) stocks, saying the Norwegian Continental Shelf (NCS) is
one of the best regions to be in as EU plans to ban Russian oil
    ** The broker upgrades Equinor  EQNR.OL  and AkerBP
 AKRBP.OL  to "buy" from "hold"; favours Var Energi  VAR.OL 
("buy") as the sector's top pick
    ** It sees NCS oil and gas producers playing a pivotal role
in Europe's energy security due to the planned ban on Russian
oil by the EU, setting the stage for several years of value
creation
   ** The broker expects the closing of the Lundin Energy
 LUNE.ST  deal to mark a new start for AkerBP  urn:newsml:reuters.com:*:nFWN2WS03F
    ** It highlights Equinor's attractive valuation with a
justifiable premium to peers due to its larger market share of
European natural gas production 
     ** DNB calls Var Energi "the best of both worlds", seeing
growing dividends over the next few years with increased
production
    ** Equinor and AkerBP are up 3.3% in afternoon trade, Var
Energi rises 2.8%

    
   

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))