Why These Energy Stocks are Gaining This Week

7. Equinor ASA (NYSE:EQNR)

Share Price Gains Between Mar. 3 and Mar. 10: 6.58%

Equinor ASA (NYSE:EQNR) is an international energy company headquartered in Norway, with over 23,000 employees in around 30 countries worldwide.

Shares of Equinor ASA (NYSE:EQNR) surged last week after the company made a gas and condensate discovery in the Norwegian Sea, with plans to develop the resources. According to the company, preliminary estimates indicate that the discovery holds recoverable reserves of between 19 million and 44 million barrels of oil equivalent.

The discovery comes after Equinor ASA (NYSE:EQNR) reported strong results for its Q4 2024 and increased its oil and gas production outlook to more than 10% growth from 2024 to 2027.