Norwegian regulators have approved revised production permits allowing Equinor ASA and its partners to continue pumping natural gas near maximum levels for export to Europe, as the continent looks to cut its dependence on Russian supplies. Fields on the Norwegian Continental Shelf have been operating near maximum capacity amid strong demand and a war between…
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Articles from Equinor
Equinor ‘Quite Bullish’ on European Natural Gas Market, Decarbonization
Europe’s recent energy shortages have laid bare the continent’s need for stable natural gas supplies as it decarbonizes its economy, according to the management team of Norway’s Equinor ASA. CEO Anders Opedal helmed a conference call earlier this month with analysts to discuss the majority state-owned energy major’s fourth quarter and full-year 2021 earnings. “The…
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…
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…
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…
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…
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…
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…
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…
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…