Equinor announced yesterday the discovery of gas and condensate in an exploration well near the Kvitebjorn field in the Norwegian section of the North Sea. Well 30/2-5 S Atlantis was drilled to a vertical depth of 14,301 feet below sea level and water depth in the...
The offshore wind industry could provide up to 1.4TW of renewable energy capacity by 2050, according to the Ocean Renewable Energy Action Coalition (OREAC). OREAC, which includes major players in the offshore wind sector such as Ørsted and Equinor, said the figure is possible given the...
Norway’s state-owned oil company Equinor is aiming to slash its fossil fuels emissions by 40% by 2030 as part of a wider plan to get close to net zero by 2050. The 2030 emissions target will be attained by investing around US$5.7 billion to replace gas...
Equinor has signed a memorandum of understanding (MoU) with China Power International Holding (CPIH) that will see the companies cooperate on the development of offshore wind farms in China and Europe. The MoU will strengthen and expand Norway-based Equinor’s relationship with CPIH, a subsidiary of the...
Norwegian energy giant Equinor has announced it produced a record 1.25TW of renewable energy last year, up from 830GW in 2017 when it operated under former name Statoil. The rebranded company still owns a number of large oil and gas production assets in the North Sea,...
Chevron, Total and Indian refiner Reliance Industries are the latest major oil companies to have joined London-based blockchain trading platform Vakt. Vakt was created in 2017 by a consortium comprised of BP, Royal Dutch Shell and Norway’s Equinor to be one of the first blockchain pilot...
The world’s largest oil companies spent only around 1% of their budgets on clean energy in 2018, but European firms have made greater investments in low carbon technology compared to their US and Asian counterparts. A fresh study by environmental research organisation CDP found that Europe’s...
Global oil demand could peak within a decade if nations work together to hit climate goals, or keep growing into the 2050s in a conflict-ridden world, according to Norwegian energy firm Equinor. The company, formerly known as Statoil, made the double-edged prediction in its new energy...
Norway’s state oil company has won approval for a corporate rebrand that will see its name change to Equinor, reflecting its strategy to move away from oil and to a broader energy focus. The removal of the word ‘oil’, part of Statoil’s name for half a...