Equinor Extends 35-Year Partnership: Nippon Steel and Sumitomo to Supply OCTG for Up to 9 Years

Equinor ASA EQNR shares are trading higher today. Nippon Steel Corporation NPSCY and Sumitomo Corporation SSUMY  have renewed a long-term contract with Equinor to supply OCTG for use in Norway and internationally for up to 9 years.

The contract renewal recognizes their stable supply of high-performance OCTG, customer-focused product development, reliable delivery, and commitment to low carbon, safety, and human rights compliance in the supply chain.

For the past 35 years, Nippon Steel and Sumitomo have supplied OCTG to Equinor for oil, gas, and CCS projects that reduce greenhouse gas emissions.

Nippon Steel and Sumitomo aim to expand their long-term collaboration with Equinor in the energy sector by ensuring a stable supply of OCTG.

Also Read: Schlumberger Lands Electric Subsea Project With Equinor In Norway: Details

Investors can gain exposure to the stock via Amplify ETF Trust Amplify Natural Resources Dividend Income ETF NDIV and SGI Enhanced Global Income ETF (GINX).

Price Action: EQNR shares are up 1.7% at $28.97 at the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Read Next:

• Australia Grants Equinor Feasibility License For Offshore Wind Project: Report