NEWS

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

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

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

Equinor completes sale of its US onshore assets in the Bakken

Category: Business News

Equinor and Grayson Mill Energy have completed their transaction that was previously announced in February 2021. As a result, Equinor has divested all its operated and non-operated acreage in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, along with associated midstream assets, for a total consideration of around USD 900 million.

Source: Equinor

Published: July 16, 2024

Equinor Submits Troll West Electrification Plan to Norwegian Authorities

Category: Business News

Equinor and partners Petoro, Shell, Total and ConocoPhillips have decided in favour of Troll West electrification, and today submit the plan for development and operation to the minister of petroleum and energy. The decision includes partial electrification of the Troll B platform and full electrification of Troll C in the North Sea. This will cut […]

Source: World Oil