By Mikael Holter (Bloomberg) --Norway’s plan for a full-scale carbon capture and storage project could end up a financial disaster, according to a new report that includes an increased cost estimate for the venture. The likely cost of building and operating the project over 10 years -- most of which would be funded by the government -- could be as much as 25 billion kroner … [Read more...]
Norway Demands More detail from Equinor on Overseas Operations
OSLO, June 10 (Reuters) - Norway's energy minister said state-controlled Equinor must be more transparent about its foreign businesses after it was hit by mounting losses from U.S. oil and gas investments. Equinor made a series of acquisitions of onshore and offshore petroleum reserves in the United States in the years before the 2014 oil price crash, eventually leading to … [Read more...]
Norway’s Equinor Sets Maritime Climate Ambitions
Norwegian energy firm Equinor is seeking to halve its global emissions from maritime shipping by 2050 and will work towards developing and promoting zero-emission ship fuel as part of a strategy to reduce its contribution to climate change. The company on Monday released its level of ambition for reducing its own emissions from ships and how the company will contribute to … [Read more...]
Norway Approves Floating Wind Farm to Power Equinor Oil and Gas Platforms
Illustration of the Hywind Tampen floating offshore wind project. Credit: Equinor Norway has approved Equinor’s plans to develop and operate a floating wind farm that will provide power to five oil and gas platforms in the Norwegian North Sea. The Hywind Tampen wind farm will consist of eleven 8MW floating wind turbines to provide approximately 35 percent of the annual … [Read more...]
Equinor to Cut 2020 CapEx by $3 Billion
File Photo: Dudgeon offshore wind farm. Photo: Sonja Chirico Indrebø via Equinor By Nerijus Adomaitis and Terje Solsvik OSLO, March 25 (Reuters) - Norwegian oil firm Equinor plans to cut investments, exploration drilling and operating costs by around $3 billion to help weather the coronavirus crisis and low oil prices. Equinor, which had already suspended a $5 … [Read more...]