And National Oceanic and Atmospheric Administration, So or
Thank you. In English, if I may. Brent crude has lost 15% so far this month and heading for the biggest monthly drop since 2021. At the Capital Markets Day in February, you guided for your oil and gas business to provide 20,000,000,000 in cash flow from operations after tax based on the oil price of $70 per barrel average. So given the reason for oil in prices and uncertain outlook, which you pointed yourself earlier, do you still expect to achieve SEK 20,000,000,000 in cash flow from operations this year?
And if you see that falling below, would you consider cutting your CapEx to maintain your free cash flow and your capacity to distribute dividend and pay and buy shares back? Thank you.
So good question. If you when we presented at the Capital Market Day, we gave you a price deck. And with that price deck, we would have $20,000,000,000 in cash flow from operation after tax. But also in that slide deck, we gave you the sensitivity for lower gas prices and lower oil prices. And there are some the sensitivity is less for us than others due to the Norwegian tax system.
So of course, if the oil and gas prices are lower than the slide deck we used, you will see that the cash flow from operation will be lower, but of course, that we are focusing on our production, but we are less vulnerable than our competitors, I would say. When it comes to the 2025 dividends, both the cash dividends and the share buyback, we made a lot of different scenarios for different prices for 2025 to see that we could stand firm on the dividend that we communicated at the Capital Market Day. And you see today, we are communicating the same dividend.