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Energy

Press Release: Reducing oil production on the Norwegian Continental Shelf

Category: Business News

The corona pandemic and the efforts to contain it in large parts of the world have had substantial impact on economic activity globally and thereby also for oil demand. In the current unprecedented situation cuts in oil production introduced by the government will contribute to a faster stabilisation of the oil market compared to letting […]

Source: Regjeringen.no


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Reuters: Norway plans temporary tax relief for oil firms

Category: Business News

OSLO (Reuters) – Norway proposed on Thursday to temporarily ease tax rules for oil firms to try to prevent a collapse in investments due to the coronavirus pandemic and a related collapse in crude prices. The plan could boost the liquidity of oil companies by as much as 100 billion Norwegian crowns ($9.7 billion) over […]

Source: Reuters


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World Oil: Norway greenlights new wind farm to power offshore production platforms

Category: Business News

OSLO – The Ministry of Petroleum and Industry has approved the plans for development and operation of the Hywind Tampen wind farm. The Snorre and Gullfaks platforms will be the first platforms in the world to receive power from a floating offshore wind farm. On 11 October 2019, Equinor and the Snorre and Gullfaks partners […]

Source: World Oil

Published: May 9, 2024


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Equinor: Oil discovery in the US Gulf of Mexico

Category: Business News

Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico. The Monument exploration well found approximately 200 feet (c. 60 metres) of net oil pay with good reservoir characteristics in Paleogene sandstone. This provides an early indication of the […]

Source: Equinor

Published: April 6, 2020


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Bloomberg: Norway May Join Oil Output Cuts for First Time Since 2002

Category: Business News

Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply. The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support prices since 2002. OPEC and other producing […]

Source: Bloomberg

Published: April 4, 2020


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