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Statoil (STO) Submits Bid for 760 MW Offshore Wind Project
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Statoil ASA submitted a bid for the offshore wind tender Hollandse Kust Zuid area I&II, comprising about 760 megawatt (MW) project in the North Sea’s Dutch region.
The Hollandse Kust Zuid area I&II is likely to be awarded in March 2018. Statoil has plans to revolutionize the future of energy and play a vital role in the shift to a low-carbon world.
In the upcoming years, Statoil intends to invest about EUR 10 billion in profitable renewable and low carbon projects to complete the transition from a focused oil and gas company to a energy major.
In Europe, Statoil is the partner and operator of some of the largest offshore wind farms, which supply energy to more than 1 million households in the UK and Germany. In October, Statoil opened the world’s first floating offshore wind farm offshore Scotland.
The commissioning of the Dudgeon offshore wind farm in the UK reflects the company’s effective project execution and efficiency. The wind farm was brought into operation in November 2017, when construction costs were lowered more than 15% from GBP 1.5 billion to about GBP 1.25 billion.
The scope of the application does not include the grid connection. It is to be supplied by the Dutch grid operator Tenne T, and will be available from July 2021.
Price Performance
Statoil headquartered in Stavanger, Norway, have gained 6.7% compared with the industry’s rally of 6.5% in the last three months. Zacks Rank & Key Picks
Statoil currently carries a Zacks Rank #3 (Hold). A fewbetter-ranked players in the energy sector include Holly Energy Partners, LP , HollyFrontierCorporation , and Northern Oil and Gas Inc (NOG - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Holly Energy Partners, owner and operator of refined product pipelines and terminals, delivered an average positive earnings surprise of 57.14% over the trailing four quarters.
Headquartered in Dallas, TX, HollyFrontieris involved in refining of the petroleum. The company delivered an average positive earnings surprise of 8.04% in the last four quarters.
Northern Oil and Gas, based in Minnetonka, MN, is an independent energy company. The company delivered an average positive earnings surprise of 175.00% during the same time frame.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Statoil (STO) Submits Bid for 760 MW Offshore Wind Project
Statoil ASA submitted a bid for the offshore wind tender Hollandse Kust Zuid area I&II, comprising about 760 megawatt (MW) project in the North Sea’s Dutch region.
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The Hollandse Kust Zuid area I&II is likely to be awarded in March 2018. Statoil has plans to revolutionize the future of energy and play a vital role in the shift to a low-carbon world.
In the upcoming years, Statoil intends to invest about EUR 10 billion in profitable renewable and low carbon projects to complete the transition from a focused oil and gas company to a energy major.
In Europe, Statoil is the partner and operator of some of the largest offshore wind farms, which supply energy to more than 1 million households in the UK and Germany. In October, Statoil opened the world’s first floating offshore wind farm offshore Scotland.
The commissioning of the Dudgeon offshore wind farm in the UK reflects the company’s effective project execution and efficiency. The wind farm was brought into operation in November 2017, when construction costs were lowered more than 15% from GBP 1.5 billion to about GBP 1.25 billion.
The scope of the application does not include the grid connection. It is to be supplied by the Dutch grid operator Tenne T, and will be available from July 2021.
Price Performance
Statoil headquartered in Stavanger, Norway, have gained 6.7% compared with the industry’s rally of 6.5% in the last three months.
Zacks Rank & Key Picks
Statoil currently carries a Zacks Rank #3 (Hold). A fewbetter-ranked players in the energy sector include Holly Energy Partners, LP , HollyFrontierCorporation , and Northern Oil and Gas Inc (NOG - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Holly Energy Partners, owner and operator of refined product pipelines and terminals, delivered an average positive earnings surprise of 57.14% over the trailing four quarters.
Headquartered in Dallas, TX, HollyFrontieris involved in refining of the petroleum. The company delivered an average positive earnings surprise of 8.04% in the last four quarters.
Northern Oil and Gas, based in Minnetonka, MN, is an independent energy company. The company delivered an average positive earnings surprise of 175.00% during the same time frame.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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