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
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
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
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
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