Lundin share price struggles to follow rise of production and reserves
Norway-focused producer’s traditional/lower-carbon balancing act fails to set it apart from its peers
Sweden’s Lundin Energy has boosted both its proved plus probable (2P) net reserves and its proved plus probable plus possible (3P) net reserves for the end of 2020 by a substantial margin compared with 12 months previously, despite almost doubling its 2020 production. But the equity market remains less willing than previously to reward the firm—which continues to have a 90pc oil base rather than pursuing the gassier focus of some of its peers—with a return to pre-pandemic share price levels. Lundin puts production efficiency, sustainability and decarbonisation at the centre of its ESG story, citing the extremely low carbon footprint—in global terms—of its oil via initiatives such as power-fr
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind