(World Oil) – Following dialogue with regulators and federal, state, and city officials, the U.S. has lifted the stop-work order on the Empire Wind project, allowing construction to resume. Once complete, the offshore wind development will provide power for 500,000 New York homes, Equinor said in a statement. “I would like to thank President Trump for finding a solution that
(Investing) – U.S. Interior Secretary Doug Burgum ordered a halt to construction of Equinor’s Empire Wind project off the coast of New York, saying information suggested the Biden administration approved it without enough environmental analysis. In a post on X on Wednesday, Burgum said the information would be reviewed further but did not elaborate on the faults identified. The sudden order
(Oil Price) – Following several months of delays due to inclement winter weather in the waters in Norway’s Arctic, Equinor started up the Johan Castberg oilfield on Monday, which will add 220,000 barrels of oil per day at peak production rates. Equinor has already delayed the start-up twice, in December and in early March, due to bad weather. As Norway’s newest oilfield, Johan Castberg in
(Oil Price) – Norway’s energy major Equinor has held early talks to sell stakes in Argentinian shale operations to Argentina’s state-owned oil firm YPF, its joint venture partner in the assets, Bloomberg reports, quoting an unnamed source with knowledge of the development. Equinor, which entered Argentina in the 2010s, has both offshore and onshore interests in the South American country. Onshore, the Norwegian oil
( Oil Price) – Equinor has secured a project financing package of over $3 billion for its U.S. offshore wind project Empire Wind 1, Norway’s energy major said on Thursday. Empire Wind 1 is planned to power 500,000 New York homes and is expected to reach its commercial operation date in 2027. With a contracted capacity of 810 megawatts (MW), Empire Wind 1
(Oil Price) – Equinor has made an oil and gas discovery next to the giant Troll field in the North Sea and will continue to explore the area for further potential resources close to existing infrastructure. The discovery, provisionally named Ringand, is currently estimated to contain between 2 and 12 million barrels of oil equivalent and is only 10 miles (17
(World Oil) – Equinor and Shell will combine their UK offshore oil and gas assets and expertise to form a new company which will be the UK North Sea’s biggest independent producer, the companies’ UK subsidiaries have announced. The incorporated joint venture (IJV) will be set up to sustain domestic oil and gas production and security of energy supply in
(Investing) – LONDON -Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe’s largest, after a power outage there helped lift oil prices by over 3% on Monday. Brent crude futures were down 12 cents, or
(Oil Price) – European oil and gas supermajors BP, Equinor, Shell, and TotalEnergies are committing a joint investment of $500 million to help ensure access to affordable, reliable, sustainable, and modern energy for all. The joint investment commitment is part of the energy majors’ efforts to support promising, high-impact projects, primarily in Sub-Saharan Africa, South, and Southeast Asia. These projects are aimed at
(World Oil) – Nigerian regulators approved the sales of units of Eni SpA and Equinor ASA after months of delay as oil majors continue exiting operations in the West African nation. The acquisitions of Eni’s Nigerian Agip Oil Company Ltd. by Oando and those of Equinor by Project Odinmim Investments Ltd. were announced at an industry event Wednesday in Abuja.
(Oil & Gas 360) – PITTSBURGH, Oct. 29, 2024 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced financial and operational results for the third quarter of 2024. Third Quarter 2024 and Recent Highlights: Integration of Equitrans Midstream Corporation (Equitrans) more than 60% complete just three months following the transaction closing; actions taken to date estimated to result in $145 million of annualized base synergies,
Oil Price Investments in the energy transition are falling way short of what is needed for its success. The fresh warning comes from BlackRock, which said annual investments in the shift away from hydrocarbons need to almost double from their current record levels. But it’s getting less likely this would ever happen. In a new edition of its Investment Institute
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