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flag Equinor cuts renewable energy targets, shifts focus to oil and gas, aiming for higher profits.

flag Norwegian energy giant Equinor has reduced its renewable energy targets for 2030 from 12 to 16 gigawatts to between 10 and 12 gigawatts due to lower profits. flag The company is focusing more on oil and gas production, planning to increase output by over 10% by 2027. flag Equinor also aims to enhance dividends and share buybacks, aligning with other major oil firms. flag Despite the shift, Equinor reported strong operational performance and stable production in 2024.

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