World Oil French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered. The companies transferred to state-owned Petroleos de Venezuela SA, or PDVSA, stakes in the Petrocedeno oil production joint venture, according to two people with direct
Gulf Today Equinor and Aker BP set out plans to develop four oil and gas discoveries with a total price tag of 14.5 billion Norwegian crowns ($1.69 billion) as part of Norway’s efforts to maximise output from its existing fields. The Nordic nation, which began to extract oil and gas 50 years ago, believes it has still only pumped about
Reuters OSLO – Equinor’s Johan Castberg oilfield in the Arctic Barents Sea won’t come on stream until the end of 2023, a year later than planned due to technical problems that have also hit its value, Norway’s oil and gas safety watchdog said on Tuesday. The Petroleum Safety Authority (PSA) said in a statement it had identified “serious breaches” of
Reuters OSLO – Norway’s Equinor is looking to sell more assets in the United States and exit several other countries as part of a major global reshuffle as it tries to return to profit after writing down $25 billion of U.S. assets over the past decade. While the company, like other energy majors, has been hit by last year’s fall
Reuters FRANKFURT- German gas transmission system operator OGE, steel producer Thyssenkrupp and Norwegian energy company Equinor on Tuesday said they would deepen cooperation to help cut carbon emissions from a Thyssenkrupp plant in Duisburg, Germany. The three said a feasibility study for the project, started in October 2019 and known as H2morrow, had shown that it would be possible to
Reuters OSLO – Equinor has agreed to buy a 49% interest in Russian onshore petroleum assets from Rosneft for $550 million, the Norwegian oil company said on Friday. The payment is for a stake in limited liability company LLC KrasGeoNaC (KGN), which holds 12 conventional onshore exploration and production licences in eastern Siberia, Equinor said. One of the 12 licences
Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is
Reuters OSLO – Norwegian energy company Equinor EQNR.OL aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, its new chief executive said as he took office on Monday. Anders Opedal, the first engineer to lead state-controlled Equinor, plans to expand the acquisition of acreage for wind
Reuters OSLO – Microsoft Corp on Wednesday signed a memorandum of understanding with Norway’s Equinor to explore the use of a carbon dioxide storage facility as the tech firm seeks to cut its carbon footprint, the Norwegian oil ministry said. The world’s largest software company pledged in January to remove enough CO2 by 2050 to account for all its emissions
Reuters LONDON – A report on Norwegian energy firm Equinor’s EQNR.OL loss-making investment in the United States detailed significant problems the state-controlled company should have dealt with faster, its chair and chief executive said on Friday. In June, Norway’s energy minister said Equinor must be more transparent about its foreign businesses after it was hit by mounting losses from U.S. onshore
Reuters OSLO – Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said. The strike will cut Norway’s total output capacity by just over 330,000 barrels of oil equivalent per day, or about 8% of total production, according to the Norwegian Oil and Gas Association (NOG).
CNBC Stretching for thousands of miles, the east coast of the United States is home to major cities, stunning beaches and millions of people. Soon, though, it could also host several major offshore wind farms, a development that would have a significant effect on America’s energy mix. At the moment, the offshore wind sector in the U.S. is small. The
