Opedal Tapped for Top Spot at Equinor
The Equinor Board of Directors appointed Anders Opedal as its new president and CEO starting November 2, 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company.Opedal ascends to…
Equinor CEO Doesn't Believe in Quick Oil Market Rebound
More global oil production curtailments will be needed to reduce the gap between supply and demand and normalize the oil market, the chief executive of Norway's Equinor said on Thursday.Eldar Saetre, who led the company…
Equinor Suspends 2020 Production Guidance
Equinor has suspended its 2020 oil and gas output guidance amid government-imposed curtailments and a glut of supply, and could take further action to scale back activity this year, the Norwegian energy firm said…
Equinor, Rosneft to develop Arctic oilfield
Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The…
Equinor Begins Search for New CEO
Norwegian oil producer Equinor has started a search for a new chief executive, the Stavanger Aftenblad newspaper reported on Friday, citing unnamed sources.CEO Eldar Saetre, 63, who led the company through the oil market's downturn in 2014-2016…
Equinor Q3 Profit Drops, Hit by Lower Prices
Norway's state-backed energy company Equinor third-quarter profit fell by more than expected on account of the significant decline in the volume and price of natural gas sold to Europe.Adjusted earnings before interest…
Equinor Sticks to 2019 Output Forecast
Equinor's third-quarter profit fell by more than expected on Thursday after a significant decline in the volume and price of natural gas sold to Europe, although the Norwegian firm reiterated its forecast for flat…
Equinor, SSE Win Contract for Largest Offshore Wind Project
Equinor and Britain's SSE have won a tender to build three wind farms off Britain, which the Norwegian firm said together will form the world's largest such development.Like other European oil firms, Equinor is developing…
Equinor to Sell Shares in Lundin Petroleum
Norwegian oil and gas firm Equinor ASA on Sunday said it will sell a 16% stake in Lundin Petroleum AB for about $1.56 billion, and in return acquire an additional 2.6% stake in Johan Sverdrup oilfield.Equinor agreed to sell about 54.5 million Lundin shares at a pri
Equinor Q1 Beats Forecast
Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and tax (EBIT)
BP and Equinor Spending Steady
The spending plans of oil majors BP and Equinor are unaffected by the more than 25 percent drop in oil prices since early October, their CEOs said on Wednesday.Oil and gas companies were boosted over the first nine…
Equinor Seeks Investments in India
Norwegian energy firm Equinor is exploring investment opportunities in India, its chief executive told Reuters on Wednesday."We are looking at India both from oil and gas, but also from the renewables. It's a very early (stage)…
Equinor Bets on Offshore Wind
Norway's Equinor is focusing its green efforts on offshore wind, a goal it is already on its way to achieve, but some investors are concerned about the impact this shift will have on the company's bottom line.European…
Equinor Explores Floating Wind Turbines to Power N.Sea Oilfields
Norway's Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse…
Equinor Q2 Core Earnings Lag Forecasts
Norwegian oil and gas firm Equinor said on Thursday second-quarter adjusted operating income rose from a year ago but missed forecasts due to higher maintenance costs at its Norwegian fields.The company formerly known…
Pope Warns Energy Bosses of Global Destruction without Fuel Shift
Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe."Civilisation requires energy but energy use must not destroy civilisation…
SOCAR Inks Deals for Caspian Fields with Equinor
Azeri state oil company SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field in the Caspian Sea.The two companies also signed a product-sharing agreement for Ashrafi…
For Big Oil, Reserve Size Matters Less Than Ever
Oil and gas reserves life falls below 12 years, lowest level in at least 20 years. A decade ago, the news that the world's top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares.
Statoil to Become Equinor, Dropping 'Oil'
Shareholders in Norway's largest company, Statoil, will approve on Tuesday the board's proposal to drop "oil" from its name as its seeks to diversify its business and attract young talent concerned about fossil fuels' impact on climate change.From Wednesday…
Changes in Statoil's Top Deck
Statoil said on Friday it had expanded its leadership team and changed its corporate structure to reflect the company's increased focus on Brazil.Statoil's Brazilian operations will become a separate business unit headed by Margareth Oevrum…
