Equinor

Covid-19 Pushes Hammerfest LNG Restart Into Spring

Covid-19 Pushes Hammerfest LNG Restart Into Spring

The almost 16-month-long repair operation at Equinor ASA’s Hammerfest liquefied natural gas (LNG) terminal in Norway has been extended a few months more as the company deals with impacts from the latest Covid-19 variant. The Norwegian company reported plans Monday to push start-up of the 4.3 million metric tons/year terminal from the end of March…

January 31, 2022
Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement

Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement

Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…

July 28, 2021
Equinor Optimizing Global Portfolio, Moving by 2030 to 50%-Plus Spending for Renewables, Low Carbon

Equinor Optimizing Global Portfolio, Moving by 2030 to 50%-Plus Spending for Renewables, Low Carbon

Supermajor Equinor ASA is not giving up on global natural gas and oil per se, but it is looking to give up control in Lower 48 projects and across the Americas as it optimizes the portfolio, executives said Tuesday. During the Capital Markets Day, the executive team laid out a strategy that overall is designed…

June 15, 2021
Equinor Bumps Marcellus Production as Overall Output Declines

Equinor Bumps Marcellus Production as Overall Output Declines

Equinor ASA’s U.S. natural gas production ticked up in the first quarter, driven by activity in the Appalachian Basin, offsetting a drop in the Norwegian major’s overall output. The company logged 236,300 boe/d from its Marcellus Shale in 1Q2021, compared to 207,000 boe/d reported in the previous quarter and 186,600 boe/d in 1Q2020. Total Marcellus…

May 4, 2021
Norway Cites ‘Serious’ Regulatory Breaches in Hammerfest LNG Fire

Norway Cites ‘Serious’ Regulatory Breaches in Hammerfest LNG Fire

The Norwegian Petroleum Safety Authority (PSA) said a fire last year at Equinor ASA’s 4.3 million metric tons/year Hammerfest liquefied natural gas terminal resulted from “serious breaches” of regulations. The facility in northern Norway, where a fire broke out last September, receives and liquefies natural gas from the Snohvit field in the Barents Sea. It…

April 22, 2021
Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor ASA, an enthusiastic buyer in the early days of the Lower 48 unconventional oil and gas revolution, has put the portfolio in reverse, with the Bakken Shale the latest to change hands. The Norwegian major said Wednesday it agreed to sell its North Dakota and Montana assets to EnCap Investments-backed Grayson Mill Energy for…

February 10, 2021
Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor ASA continued to advance its worldwide energy portfolio during 2020, with a long-term strategy set on becoming a net-zero emissions leader relying less on fossil fuels. The management team held court with analysts and investors on Wednesday to share results for 2020 and the outlook going forward. Mirroring comments made by Big Energy CEOs…

February 10, 2021
Equinor Writes Down Tanzania LNG Project on Weak Economics

Equinor Writes Down Tanzania LNG Project on Weak Economics

Equinor ASA said Friday it would make a $982 million writedown of its Tanzania liquefied natural gas (TLNG) export project proposed for east Africa, saying it does not currently compete with other projects in the company’s portfolio. “While progress has been made in recent years on the commercial framework for TLNG, overall project economics have…

January 29, 2021
Equinor’s Hammerfest LNG Shuttered for One Year After September Fire

Equinor’s Hammerfest LNG Shuttered for One Year After September Fire

Inspections have shown that a fire last month at Equinor ASA’s Hammerfest liquefied natural gas (LNG) terminal in northern Norway will require at least a year’s worth of work to repair, the company said Monday.  The fire broke out in the air intake of one of the plant’s five power turbines, which caused extensive damage,…

October 26, 2020
Equinor’s Strong Oil, Gas Trading Performance Lifts 2Q

Equinor’s Strong Oil, Gas Trading Performance Lifts 2Q

  A solid oil and gas trading performance, lifted by a tax change to assist the Norwegian oil industry through the Covid-19 crisis, lifted Equinor ASA during the second quarter, possibly setting it apart from its peers as earnings are unveiled in the coming days. With their outlooks for oil and gas prices sharply lower,…

July 27, 2020