When prices go up on a company's product, it usually benefits the business. Perhaps that's not the sort of trade secret that only emerges when rummaging through the estate papers of a deceased tycoon. However, that's not always the case, as is shown by Equinor's fourth-quarter interim report and its upcoming full-year statement set for release on Feb. 9.
Here, the Norwegian oil company – Europe's second-largest supplier of the now-historically pricey natural gas – is to book a loss of roughly USD 1.4-1.5bn on gas deliveries; or mere precisely, physical delivery of gas contracts settled at an earlier time when prices were several times lower, as well further losses on derivatives on contracted gas futures.
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