Equinor
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The energy transition was present but not at center stage at recent earnings calls as majors celebrated their improving financial performance. -
Greenland may have said “no” to oil and gas, but its vast mineral wealth is up for grabs as the world’s biggest billionaires invest to claim metal reserves needed to manufacture batteries.
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The divestments leave PDVSA as sole shareholder of the onshore Petrocedeño project in the Orinoco Belt.
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Brazil has plans to create a competitive gas market. Equinor is operating two big projects that could offer a model for how a company not named Petrobras could market gas produced offshore.
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The North Sea project is set to include 23 subsea, oil-producing wells tied into four subsea templates to tap an estimated 200 million bbl of oil.
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After Equinor laid out its strategy to maximize oil and gas profits as it transitions to business that minimizes carbon emissions, stock analysts asked if the less-profitable units can sustain the dividend.
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Four licenses are awarded to seven oil companies as this round sees less interest than previous ones.
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New find will likely be tied into future Johan Castberg infrastructure.
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The operator's aggressive decarbonization effort has put it on the fast track to produce nearly a third of its oil and gas from the Norwegian Continental Shelf using electricity generated by onshore hydroelectric plants.
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Concrete spar substructures will be completed offshore as additional construction milestones approach for large marine wind project.
