Norway's Equinor has decided to scrap plans to export so-called blue hydrogen to Germany because it is too expensive and there is insufficient demand, a spokesperson for the energy company said on Friday.
EQNR anchors its FPSO on the Johan Castberg field, moving closer to oil production by the year's end, with peak output expected at 220,000 barrels per day.
European Union legislation imposing methane emissions limits on Europe's oil and gas imports from 2030 will present monitoring challenges, an executive at Norwegian oil company Equinor said at the APPEC event on Tuesday.
A prognosticator reduced his price target on the shares. While this cut wasn't drastic, the pundit maintained his bearish take.
EQNR plans to downsize its renewables division, shifting its focus from growth to profitability amid industry challenges and rising costs.
EQNR exits offshore wind projects in Spain and Portugal, citing rising costs and market challenges in the renewables sector.
Norwegian energy company Equinor has cancelled its offshore-wind projects in Spain and Portugal, in addition to its previously announced exit from Vietnam, and could withdraw from more countries to rein in spending, an executive told Reuters on Wednesday.
EQNR scraps its plan to invest in the offshore wind sector in Vietnam. It will also end its business development operations in the country and close its Hanoi office.
Norway's Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry's fiscal regime, a top company executive told Reuters.
EQNR plans to invest heavily in Norway's offshore oil sector, with $6.7 billion annually through 2035, despite the global shift to renewables.
Equinor plans to invest 60 billion-70 billion crowns ($5.7 billion-$6.7 billion) per year offshore Norway towards 2035 as it expects continuing strong demand for oil, it said on Monday.
Equinor's (EQNR) Gullfaks C platform evacuates some workers as a security measure after the platform encountered a well-control incident. The other platforms at the Gullfaks field remain operational.