Connect with us

Technology

Fourth Quarter 2024 Results and Strategy Update

Published

on

LYSAKER, Norway, Feb. 12, 2025 /PRNewswire/ — Aker BP delivered strong results in the fourth quarter and throughout 2024, driven by high production efficiency, low costs, and low emissions. With production at the upper end of guidance, a well-executed project portfolio, and robust cash flow generation, the company continues to create value and distribute attractive dividends to its shareholders.

Commenting on Aker BP’s strategic direction, Aker BP CEO Karl Johnny Hersvik said:

“Over the past decade, Aker BP has undergone a transformation to build a future-fit E&P company. We have developed distinct capabilities that set us apart: a strong performance culture that drives execution excellence, a well-established alliance model that fosters collaboration across the value chain, and a leading position in digitalisation that is transforming the way we work. Combined with our world-class asset base, these strengths enable us to deliver industry-leading performance.”

Reflecting on the company’s recent performance, Hersvik continued:

“In the fourth quarter and throughout 2024, we delivered strong operational performance across all key metrics. Production reached the upper end of our guidance, with strong performance across the portfolio – led by Johan Sverdrup, which delivered a new annual production record. At the same time, we maintained industry-leading cost efficiency and emission intensity. I am also pleased that we remain on track to deliver our project portfolio and grow production into the next decade.”

Looking ahead, Hersvik added:

“We have a clear pathway to sustain production above 500,000 barrels per day beyond 2030, with ambitions for further growth. With our capabilities, assets, resource base, and technology, we are ideally positioned to drive profitable growth on the Norwegian continental shelf.”

Commenting on Aker BP’s financial position, he said:

“With another year of strong value creation and cash flow behind us, we enter 2025 in our strongest financial position yet – providing the flexibility to advance our development projects while maintaining attractive dividends to our shareholders. In line with our ambition, we once again increase our dividends in 2025.”

Highlights for the fourth quarter 2024

Excellent operational performance: Oil and gas production reached 449 (415) thousand barrels of oil equivalent per day (mboepd) during the quarter and 439 (457) for the full year 2024, close to the high end of the guided range of 430-440 mboepd.Low cost: Production cost was USD 5.7 (6.6) per barrel. Ending the year at USD 6.2 (6.2) per barrel, below latest guidance of 6.5 dollars per barrel.Low emissions: Greenhouse gas emission intensity was 2.6 (2.4) kg CO2e per boe (scope 1 & 2), ranking among the lowest in the global oil and gas sector.Projects on track: Field development projects progressing according to plan, with overall capex estimates unchanged.Strong financial results: Aker BP reported total income of USD 3.1 (2.9) billion, an EBITDA of USD 2.7 (2.6) billion and net profit of USD 562 (173) million for the quarter. On a full-year basis the company generated record-high cash flow from operations at USD 6.4 (5.4) billion.Returning value: Dividends of USD 2.4 per share paid in 2024, to be increased by five percent to USD 2.52 per share in 2025.

Guidance for 2025

Aker BP today announced its guidance for 2025, outlining management’s expectations for production, capital spending, production cost, and dividends. Production is expected to range between 390-420 mboepd, in line with previously communicated long-term plans.

Capital expenditures are projected at USD 5.5-6.0 billion before tax. Production cost is expected to remain around USD 7 per barrel oil equivalent. Exploration expenses are estimated at approximately USD 450 million, while abandonment spend is projected at around USD 150 million.

In line with the company’s commitment to shareholder returns, the Board has approved a 5 percent increase in dividends to USD 0.63 per share per quarter, annualising to USD 2.52 per share for 2025.

Webcast presentation

The presentation will be webcasted today at 08:30 CET on www.akerbp.com, hosted by CEO Karl Johnny Hersvik and CFO David Tønne. The presentation will be followed by an online Q&A session.

Attachments

Aker BP 2024-Q4 Report.pdf
Aker BP 2024-Q4 Presentation.pdf

Investor contacts:
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889
Carl Christian Bachke, Investor Relations Officer, tel.: +47 909 80 848
Martin Seland Simensen, Investor Relations Officer, tel.: +47 416 92 087

Media contacts:
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/fourth-quarter-2024-results-and-strategy-update,c4104062

The following files are available for download:

 

View original content:https://www.prnewswire.com/news-releases/fourth-quarter-2024-results-and-strategy-update-302374338.html

SOURCE Aker BP ASA

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

From China Mobile’s Call Upgrade to the Commercial Launch of “Calling + AI” by Leading Operators: AI Is Reshaping the Value of Native Calling

Published

on

By

BEIJING, July 25, 2026 /PRNewswire/ — On June 15, 2026, China Mobile announced a comprehensive upgrade to its traditional calling services, ushering in a next-generation calling experience defined by HD, intelligence, and security. This milestone not only marks a major leap in telecommunication innovation but also reflects a global, inevitable shift: the transformation of basic communication into intelligent, inclusive services.

Breaking Experience Barriers and Redefining the Paradigm of Basic Calling

Overcoming the limitations of traditional, voice-only interactions, China Mobile has leveraged its mature VoLTE/VoNR network foundation to deeply integrate AI models with HD audio and video capabilities. Without requiring users to change their phones or SIM cards, seven core AI functions are now seamlessly embedded into the native dialer interface.

These upgrades include Live Captions bridge communication gaps for the elderly and hearing-impaired; HD video calls and AI noise reduction create a crystal-clear, immersive calling experience; AI anti-fraud intercepts high-risk calls in real time to safeguard users’ assets. Furthermore, the introduction of Data Channel (DC) technology and visual call menus transforms standard calls into agile, interactive service windows, enabling multi-party collaboration and seamless business transactions directly within the call. Through this initiative, China Mobile has successfully evolved traditional calls from a mere voice pipeline into a secure, integrated information hub.

“Calling + AI” Becomes a Strategic Consensus Among Global Leading Operators

From a global perspective, China Mobile’s call upgrade is not an isolated milestone, but a microcosm of the global telecommunications industry’s broader transformation. Throughout 2026, major operators worldwide are accelerating the commercial deployment of “Calling + AI” solutions:

Deutsche Telekom launched Magenta AI, leveraging artificial intelligence to enhance calling across all scenarios;T-Mobile US introduced a network-side, real-time translation service covering over 80 languages, effectively breaking down cross-border communication barriers;Saudi stc rolled out English-Arabic bilingual simultaneous interpretation, which has now entered large-scale commercial trials;South Korea’s LG U+ launched its ixi-O intelligent calling assistant, shifting the user experience from passive responses to proactive smart interactions and earning three prestigious GLOMO industry awards.

The synchronized efforts of these global leaders confirm that basic calling services have officially entered a new era of AI integration. Deeply empowered by artificial intelligence, “Calling + AI” has become the definitive blueprint for the intelligent transformation of the global telecommunications industry. As operators continue to refine these native capabilities, the traditional voice network is poised to reclaim its position as the most secure, ubiquitous, and valuable entry point in the AI era.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-china-mobiles-call-upgrade-to-the-commercial-launch-of-calling–ai-by-leading-operators-ai-is-reshaping-the-value-of-native-calling-302834622.html

SOURCE China Mobile

Continue Reading

Technology

Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

Published

on

By

SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

View original content:https://www.prnewswire.com/news-releases/tripcom-group-sincerely-accepts-administrative-penalty-decision-issued-by-the-state-administration-for-market-regulation-of-the-peoples-republic-of-china-302834599.html

SOURCE Trip.com Group Limited

Continue Reading

Technology

NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

Published

on

By

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.” 

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

View original content:https://www.prnewswire.com/news-releases/naver-partners-with-brookfield-and-nvidia-to-expand-koreas-national-ai-factory-infrastructure-buildout-302834577.html

SOURCE NAVER

Continue Reading

Trending