Equinor

Equinor has grabbed seven new licenses in the Barents and Norwegian Seas, the latest in a flurry of offshore activity in which the firm has added acreage off the UK and Brazil, gained approval for a big Arctic project, and awarded billions of dollars in service contracts.

By transitioning from gas turbines to land-based electrical power for various platforms, the company hopes to reduce carbon dioxide emissions by more than 600,000 tonnes/year.

Equinor and ExxonMobil continued their aggressive pursuit of acreage offshore Brazil, collecting more blocks in the country's 4th pre-salt bid round.

UK’s active 30th Licensing Round resulted in the award of 123 licenses to a diverse set of 61 companies—an outcome that UK government officials hailed as more proof that interest is picking up in the aging North Sea.

Shareholders in Norway’s largest company, Statoil, approve 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.

Late last year, Norges Bank recommended that the Norway Oil Funds end future investment in oil and gas stocks. Two weeks ago Statoil changed its name to Equinor. Are these actions a reflection of the long-term prospects of the oil and gas industry?

Statoil’s board of directors proposed to change the name of the company to Equinor as of 16 March. The name change is intended to support the company’s strategy and development as a broad energy company.