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Racing for Hydrogen: How Gas Giants Are Vying to Stay Relevant
Category: Business News
(Bloomberg) — The global gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives. BP Plc, Sinopec, Equinor ASA and Royal Dutch Shell Plc are among the producers looking to hydrogen to help secure demand that otherwise may falter […]
Source: Bloomberg
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Equinor and Exxon to develop $8 bln Brazilian oilfield
Category: Business News
Equinor (EQNR.OL), ExxonMobil (XOM.N) and Petrogal Brasil said on Tuesday they would proceed with an $8 billion development of Brazil’s Bacalhau oil discovery. First oil from the field, which will be operated by Norway’s Equinor, is expected in 2024, with output set to reach 220,000 barrels per day, the companies said in a joint statement. “Estimated recoverable reserves […]
Source: Reuters
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Oil Firms in Norway Raise Spending Forecasts
Category: Business News
Oil and gas firms in Norway have increased their 2021 and 2022 investment forecasts during the last three months as more projects are being developed, a national statistics office (SSB) survey showed on Wednesday. The biggest business sector in Norway now expects to invest 181.9 billion Norwegian crowns ($21.95 billion) this year, up from a […]
Source: Offshore Engineer
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How an Oil Company Becomes a Renewables Company
Category: Business News
There are energy-transition commitments, though, and then there are energy-transition results. And on the latter side, one company shines: Norway’s state-owned oil producer, Equinor ASA. It posted more than $2.6 billion of earnings in the first quarter of 2021, 49% of which was from renewable energy. Last quarter, Equinor earned more from renewables than it did from oil and gas exploration and production.
Source: Bloomberg
Published: June 5, 2021
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Conversion of Slagen Refinery to Import Terminal
Category: Business News
After a thorough Information and Consultation process with employees and their representatives the Board of Directors of Esso Norge AS has decided to convert its Slagen refinery to a Fuel import terminal. Slagen refinery operates in an increasingly challenging market, characterized by strong competition, evolving regulatory measures and falling demand leading to overcapacity in the […]
Source: ExxonMobil
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