Equinor
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Norwegian oil firm chooses Aker, Sevan, TechnipFMC and others to continue studying $8-billion-plus Barents Sea development. -
Exploration test could yield as much as 200+ million BOE.
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More time and money are needed for Johan Castberg and others, while government looks to boost hydrogen research.
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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.
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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.
