Equinor Archives - Page 3 of 5 - Energy Analytics Institute (EAI)

Chevron Boosts Recovery at Two Facilities in US GOM

(Chevron, 3.Sep.2024) — Chevron Corporation has started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico, where Chevron operations produce some of the world’s lowest carbon intensity oil and gas. “Delivery of these two projects […]

Increased Ripple Effects from Equinor in Norway

(Equinor, 28.Aug.2024) — A new report shows that deliveries for exploration, development projects and operation of Equinor-operated fields and onshore facilities in Norway had a value of more than NOK 134 billion in 2023, 94 per cent of which were invoiced by Norwegian suppliers. Equinor plans to maintain its oil and […]

Diverging Paths: Argentina Versus Brazil’s Energy Policies

(Rystad, 29.Aug.2024) — Argentina and Brazil are the two largest economies on the South American continent, and both are places that foreign investors have been cautiously eyeing for some time now. For many years both countries pursued a similar path while sharing a similar government ideology in their respective capitals. Now, […]

Strengthening Emergency Preparedness in the Barents Sea

(Equinor, 27.Aug.2024) — Equinor will establish and operate a new area-wide emergency preparedness solution for the southwestern Barents Sea. The solution will add new resources, expertise and capabilities that will strengthen safety and emergency preparedness in this ocean area. “Safety is our number one priority, we must have a good emergency […]

Equinor to Use World’s First Ammonia-powered Supply Vessel

(Equinor, 26.Aug.2024) — Equinor has signed a contract with Eidesvik Offshore for the conversion of the Viking Energy supply vessel to ammonia operation. The vessel will be fully converted and put into operation with low emissions in 2026. The vessel supplies Equinor’s installations on the Norwegian continental shelf (NCS). Viking Energy […]

Equinor Announces Cash Dividend for 1Q:24

(Equinor, 23.Aug.2024) — Equinor ASA announced on 25 April 2024 an ordinary cash dividend per share of USD 0.35 and an extraordinary cash dividend per share of USD 0.35 for first quarter 2024. The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in […]

Equinor Gets Offshore Wind Lease in US Central Atlantic Auction

(Equinor, 14.Aug.2024) — Equinor has been announced as a provisional winner in the Bureau of Ocean Energy Management’s (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region. The ~2 gigawatt (GW) lease will have the capacity to produce enough energy to power approximately 900,000 U.S. homes. With a […]

Shell Invests in Water Injection at US GOM Field

(Shell, 14.Aug.2024) — Shell Offshore Inc., a subsidiary of Shell plc, has taken a Final Investment Decision (FID) on a ‘waterflood’ project at its Vito asset in the US Gulf of Mexico. Water will be injected into the reservoir formation to displace additional oil. The process is due to begin in […]

Equinor Starts Production from Kristin South

(Equinor, 8.Jul.2024) — Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July. The partnership submitted the plan for development and operation (PDO) of the Lavrans and Kristin Q discoveries as satellites to the […]

Equinor Secures Permit for CO2 Storage in Denmark

(Equinor, 20.Jun.2024) — Equinor has been awarded its first CCS exploration permit in Denmark as operator, together with partners Ørsted and Nordsøfonden. The partnership will start surveys to assess if the onshore license in the North West Zealand can be developed into a safe CO2 storage facility. The partners were awarded permit […]

Equinor Bags Two New North Sea CO2 Storage Licenses

(Equinor, 20.Jun.2024) — Equinor has been awarded the operatorships for the development of two new CO2 storages in the North Sea. The new licenses are important building blocks for developing the Norwegian Continental Shelf into a leading area for CO2 storage in Europe. On 20 June, the Ministry of Energy announced the award […]

Equinor Expands Renewables Portfolio in Poland with New Solar Plant

(Equinor, 18.Jun.2024) — Equinor’s third solar plant in Poland, Lipno has started test production. This brings the company’s onshore renewables capacity in Poland to ~200 MW, and further strengthens its position in one of the fastest-growing renewable energy markets in Europe. Lipno is located in the Wielkopolskie province in central Poland. The […]

Equinor and GRTgaz to Develop CO2 Transport Infrastructure in France

(Equinor, 17.Jun.2024) — Equinor and main French gas transmission operator GRTgaz signed a project development agreement (PDA) for a CO2 transport system for captured CO2 from industrial emitters in France to safe and permanent storage offshore Norway via the planned CO2 Highway Europe pipeline project. The development will consist of […]

Speed and Scale of Energy Transition Must Increase, Equinor Says

(Equinor, 6.Jun.2024) — In 2024, almost half of the world’s population go to the polls. Many elections will demonstrate some of the key trends shaping world politics: geopolitical competition, economic nationalism, and political polarisation. This in turn will impact global energy markets and the progress of the energy transition. Energy […]

Election to Equinor’s Board of Directors

(Equinor, 6.Jun.2024) — In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 4 Jun. 2024 Tone Hegland Bachke and Fernanda Lopes Larsen were elected as new members to the board of directors of Equinor. Furthermore, the corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater […]

Equinor Solidifies New York Offtake Deal for Empire Wind 1

(Equinor, 4.Jun.2024) — Equinor announced the execution of the Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA) for the renewable power generated by the Empire Wind 1 offshore wind project. This agreement follows NYSERDA’s February announcement that Equinor had been selected as a […]

Equinor Divests Interests in Gina Krog Area

(Equinor, 4.Jun.2024) — Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG). With this, the ownership between Equinor and PGNiG in these licenses will be balanced with the Gina Krog field. The plan for development […]

Petrobras Ranking by Poder 360

(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]

Deals Show Enduring Appeal of US Gas

(Rystad Energy, 19.Apr.2024) — European companies have been cautiously adding to their upstream positions. More deals could follow. Ed Crooks examines the forces shaping the energy industry globally The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, […]

EQT Inks Non-Operated Asset Transaction with Equinor

(EQT, 15.Apr.2024) — EQT Corporation (NYSE: EQT) entered into an agreement with Equinor USA Onshore Properties Inc. and their affiliates to sell an undivided 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised […]

Equinor Swaps Onshore US Assets with EQT

(Equinor, 15.Apr.2024) — Equinor and EQT Corporation agreed to swap Equinor’s operated position in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interest in the Northern Marcellus formation. Under the transaction agreement, Equinor will sell 100% interest in and operatorship of its onshore asset […]

Model Updates on EPCI Projects, Brazil FPSOs

(Energy Analytics Institute, 15.Feb.2024) — Modec‘s profits increased significantly due to good progress in the construction work of new EPCI projects and improved asset integrity of old Brazil FPSO vessels, the company revealed 15 Feb. 2024 in its 2023 financial results analysts presentation. EPCI works recorded good progress, including FPSOs awarded […]

Petrobras Highlights 4Q:23 Production and Sales [PDF Download]

(Petrobras, 8.Feb.2024) — In 2023, Petrobras delivered an excellent upstream operational performance, meeting all production forecasts for the year. Total annual production of oil and natural gas, of 2.782 MMboed, was 3.7% above the production of 2022. Our good results were made possible mainly by the start-up of FPSOs Almirante […]

SLB and Equinor Drill Most Autonomous Well Section To-Date

(SLB, 30.Jan.2024) — SLB (NYSE: SLB) announced a significant step toward fully autonomous drilling operations at Equinor’s Brazilian Peregrino C platform. SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling were combined to enable 99% of a 2.6-kilometer section to be drilled in autonomous control mode. Over a […]

Petrobras on Natural Gas Flow, Processing

(Petrobras, 29.Dec.2023) — Petrobras, together with Equinor Energy do Brasil Ltda. signed the contracts for the Campos Basin Integrated Natural Gas Flow System (SIE-BC) and access to the Cabiúnas Gas Treatment Unit (UTGCAB). With the signing of these contracts, Equinor will be able to transport natural gas from the Roncador […]

Brazilian Bid Round Opens New Offshore Frontier in Pelotas Basin

(WoodMac, 14.Dec.2023) — A total of 193 blocks were auctioned in Brazil’s December 13 oil and gas licensing round, 192 under concession and one under production sharing agreement, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: The total amount in bonuses was […]

Norway’s Equinor Divests Nigeria Business

(Welligence Energy Analytics, 29.Nov.2023) — Equinor has announced the sale of its Nigeria business to Chappal Energies for an undisclosed consideration. What were the key drivers for buyer and seller, and what does this mean for future M&A in the country? The exit of the Norwegian giant is not a […]

Equinor and OMV Agree to New Long-term Gas Sales Deal

(Equinor, 27.Sep.2023) — Equinor has signed a new long-term gas sales agreement with Austria’s major energy company OMV. The agreement is for 5 years starting 1 October this year and with an annual volume of 12 TWh. The gas will be delivered at Germany’s virtual trading hub THE (Trading Hub […]

Rosebank Field to Progress in the UK [Video]

(Equinor, 27.Sep.2023) — Equinor and Ithaca Energy have taken the final investment decision to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing $3.8bn. The North Sea Transition Authority (NSTA) granted consent for the development of the field on 27 September. “Developing the Rosebank field […]

Equinor: Johan Castberg Project Update

(Equinor, 19.Sep.2023) — The Johan Castberg partnership, consisting of Equinor, Vår Energi and Petoro, is today updating the project cost estimate. The investment estimate has increased by almost NOK 13bn since last year. Our plan for production start in the fourth quarter of 2024 remains unchanged. “Costs are increasing due […]

More Gas From Gina Krog with Eirin

(Equinor, 19.Sep.2023) — On behalf of the partnership, Equinor has submitted a plan for development and operation (PDO) of the Eirin gas field to the Ministry of Petroleum and Energy. Recoverable reserves in the field are estimated at 27.6 million barrels of oil equivalent, most of which is gas. The […]

Petrobras Updates on Offshore Wind Protocol at IBAMA

(Petrobras, 15.Sep.2023) — Petrobras, following up on the release disclosed to the market on 13 September 2023, informs that the request to start the environmental licensing process for ten areas in the Brazilian sea for the development of offshore wind energy projects aims to assess the technical-economic and environmental viability […]

Equinor Expands Renewable Portfolio in Poland

(Equinor, 5.Sep.2023) — Equinor has acquired a 26 MW onshore wind farm in Poland from the Helios Group. With this investment, Equinor expands its broad energy offering in Poland and delivers on its market-driven power producer strategy. The Wilko wind farm is located in the Wielkopolska province and will be […]

Equinor Acquires Stake in Bayou Bend CCS Project

(Equinor, 28.Aug.2023) — Equinor has acquired a 25% interest in Bayou Bend CCS LLC, positioned to be one of the largest US carbon capture and storage projects located along the Gulf Coast in Southeast Texas. “Commercial CCS solutions are critical for hard-to-abate industries to meet their climate ambitions while maintaining […]

Equinor Buys Rio Energy Including Selected Assets

(Equinor, 21.Jul.2023) — Equinor signed an agreement with Denham Capital to acquire Rio Energy, a leading onshore renewables company in Brazil. The transaction includes selected assets and the team, while Denham Capital will retain certain assets. With the acquisition, Equinor strengthens its position as a broad energy company in the Brazilian market. […]

Sale of Certain Rio Energy Assets, Trade Name to Equinor

(Denham Capital, 21.Jul.2023) — Denham Capital, the global energy transition investment firm, has signed an agreement with Equinor for the sale of certain Rio Energy assets, the Rio Energy trade name, and the management team platform. Rio Energy, a leading developer, owner and operator of renewable energy projects in Brazil delivers low […]

Equinor Launches Zagórzyca Solar Plant in Poland

(Equinor, 23.Jun.2023) — Equinor’s second Polish solar plant, Zagórzyca has started test production. This is another step towards building a material renewable portfolio in Poland, which is one of Europe’s most rapidly growing renewable energy markets. “Equinor aims to be a reliable energy partner for Poland and support its energy transition. […]

Equinor Inks LNG Purchase Agreement with Cheniere

(Equinor, 21.Jun.2023) — Today, 21 June 2023, Equinor and Cheniere have announced a new 15-year purchase agreement of around 1.75 million tonnes of LNG per year, with half of the volume starting from 2027. This agreement brings the total volumes that Equinor has contracted with Cheniere up to around 3.5 million tonnes […]

The 1.5-degree Ambition is Becoming Increasingly Difficult to Achieve: Equinox

(Equinor, 8.Jun.2023) — Energy Perspectives paints the outcome space for the long-term development of the world’s energy markets. Driven by factors such as geopolitics, technology, climate and energy policy, and company and consumer behaviour, energy demand projections are made, but become increasingly uncertain the further out in time we forecast. The world […]

Election to Equinor’s Board of Directors

(Equinor, 6.Jun.2023) — In a meeting on 6 June 2023 the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) re-elected all the shareholder-elected members of Equinor ASA’s board of directors. The corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater as deputy chair of the board in addition to re-election […]

Equinor on 4Q:22 Dividend

(Equinor, 22.May.2023) — Equinor (OSE: EQNR, NYSE: EQNR) announced on 8 February 2023 an ordinary dividend per share of USD 0.30 and an extraordinary dividend per share of USD 0.60 for fourth quarter 2022. The NOK dividend per share is based on average USDNOK fixing rate from Norges Bank in […]

Equinor puts Trollvind on Hold

(Equinor, 22.May.2023) — Equinor will postpone a further development of the Trollvind offshore wind initiative indefinitely. This decision is based on several challenges facing the project, including technology availability, rising cost and a strained timetable to deliver on the original concept. The authorities have been informed about the decision. Equinor […]

Petrobras on Contracting for Block BM-C-33

(Petrobras, 10.May.2023) — Petrobras, following up on the release disclosed on 05/08/2023, informs that Equinor, on behalf of the consortium formed to develop block BM-C-33, has signed the contracts with MODEC Inc. for the supply of the production platform and TechnipFMC for the Submarine Systems. The platform to be built […]

Equinor and Partners Announce $9bn FID for BM-C-33 in Brazil

(Equinor, 8.May.202) — Equinor (operator), Repsol Sinopec Brasil and Petrobras have taken the investment decision to develop the BM-C-33 project in Brazil. The investment is of approximately $9bn. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas […]

Equinor: The Bauge field on Stream

(Equinor, 17.Apr.2023) — On 8 April production started from the Bauge subsea field in the Norwegian Sea. Bauge is tied back to the recently upgraded Njord platform. Recoverable reserves in Bauge are estimated at 50 million barrels of oil equivalent, mainly oil. Bauge consists of two oil producers in a […]

Shell Starts Production at Vito in US GOM

(Shell, 16.Feb.2023) — Shell Offshore Inc., a subsidiary of Shell plc, announced that production has started at the Shell-operated Vito floating production facility in the US Gulf of Mexico (GoM). With an estimated peak production of 100,000 barrels of oil equivalent per day, Vito is the company’s first deep-water platform […]

EAI’s NRGBriefs: Jan. 2023

(Energy Analytics Institute, 31.Jan.2023) — Energy briefs as well as others related to finance and politics during January 2023 including Trinidad and Tobago Prime Minister Dr. Hon. Keith Rowley said during the Trinidad and Tobago Energy Conference (TTEC) in Port of Spain that “in this uncertain global environment, energy is […]

Equinor Awarded Production Licences on Norwegian Continental Shelf

(Equinor, 10.Jan.2023) — Equinor has been awarded 26 new production licences by the Ministry of Petroleum and Energy (MPE) in the 2022 Award in Predefined Areas (APA) – 18 licences as operator, and eight as partner. “The APA rounds are important, and we are very pleased with today’s awards,” says […]

Equinor and RWE to Cooperate on Energy Security and Decarbonization

(Equinor, 5.Jan.2023) — Equinor and RWE have agreed to work together to develop large-scale value chains for low carbon hydrogen. The partners aim to replace coal fired power plants with hydrogen-ready gas fired power plants in Germany, and to build production of low carbon and renewable hydrogen in Norway that […]

Energy Analytics Institute’s NRGBriefs: December 2022

(Energy Analytics Institute, 31.Dec.2022) — Energy briefs as well as others related to finance and politics during December 2022 including Washington’s easing of sanctions on Venezuela resulting in increased US imports of that heavy/sour crude; twin-island country Trinidad and Tobago eying its annual energy conference in Port of Spain; Savannah […]