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Equinor ASA (NYSE:EQNR) shares are trading higher today. Nippon Steel Corporation (OTC:NPSCY) and Sumitomo Corporation (OTC: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 (NYSE: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.
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