Equity production from offshore Brazil more than doubles after the completion of an acquisition in the Campos oil basin, Norwegian company Equinor said. Equinor, formerly known as Statoil, said Friday Continue Reading
Norway’s Petroleum and Energy Minister Terje Søviknes will meet next week with companies and other stakeholders to discuss the potential construction of offshore floating wind farms in Norwegian waters, Søviknes Continue Reading
Norwegian energy company Equinor said Tuesday its Johan Castberg field could be profitable so long as the price of oil is about $35 per barrel. The Norwegian Parliament approved the Continue Reading
Peak oil demand could come around 2030 at 111 million bpd in the current market as road transport electrification and efficiency gains in all sectors offsets increasing petrochemical and aviation Continue Reading
A component of a drilling platform for the development of the Johan Sverdrup oil field in the North Sea is on its way to its final destination, Equinor stated. The Continue Reading
Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back. Now Norway’s changed its tune. “It’s far from unlikely that we Continue Reading
Oil companies in Norway are raising their exploration spending more than expected, the head of the country’s industry regulator told Reuters on Tuesday. Firms such as Equinor and other operators Continue Reading
Norwegian oil and gas exploration will continue to rebound amid higher crude prices, a survey by the national statistics agency (SSB) showed on Monday, although the overall pace of investment Continue Reading
Sales of most fuels in Norway declined last year for the first time in almost a decade, after seven years with three-digit annual increases in EV sales. As of March, electric vehicles Continue Reading
Shares in Equinor, the company formally known as Statoil, started trading Wednesday for the first time on the Oslo stock exchange, it announced. The company is trading under the ticker Continue Reading
The petroleum component of the Norwegian economy contributed to first quarter growth after a drop off in the fourth quarter, the government said. Statistics Norway, the government’s record-keeping office, reported Continue Reading
The ticker symbol for Norwegian energy major Statoil, STL, leaves the market this week when the company officially changes its name to Equinor, it said Monday. A vote is expected Continue Reading
Norway’s Statoil said it aims to cut its carbon footprint more aggressively as measures to reduce global warming could reduce the value of its assets, leaving some of its reserves Continue Reading
Norwegian energy company Statoil explains sale of non-core assets in the North Sea as part of an effort to focus on greener options. After reporting first quarter earnings below analyst Continue Reading
Average annual Norwegian wellhead C&C production dropped 1.5% in 2017, from 1709 kbpd (625 mmbbls total) to 1682 kbpd (614 mmbbls total). Wellhead gas (which includes fuel gas, flaring and Continue Reading
Norway’s sovereign wealth fund, built on the back of the country’s oil wealth and the biggest in the world, reported its first quarterly loss in two years for January to Continue Reading
Norwegian state-controlled Statoil on Wednesday posted a strong operational first quarter, lifted by record overseas production and higher oil and gas prices, and predicted that total petroleum output for the Continue Reading
Aluminum maker Norsk Hydro may declare force majeure on contracts it has with Russia’s United Company Rusal due to U.S. sanctions, the Norwegian company said on Friday. The price of Continue Reading
Technical problems were to blame for a drop in average daily oil production from Norway, one of Europe’s main suppliers, the government said. The National Petroleum Directorate, the nation’s energy Continue Reading
When Statoil struck oil in what is now the Johan Castberg field back in 2011, nobody expected that just three years later, oil prices would plummet and the Norwegian energy Continue Reading
Two energy companies are cleared for two separate drilling operations in the Norwegian waters of the Barents Sea, a national safety regulator said. The Petroleum Safety Authority of Norway gave Continue Reading
More than $1.5 billion in contracts for drilling services were awarded to companies for work in Norwegian waters, energy major Statoil said. The company said Tuesday it awarded contracts to Continue Reading
A Norwegian regulator confirmed two separate oil and gas discoveries on Monday, the largest of which could contain at least 35 million barrels of oil. Apart from Russia, Norway is Continue Reading
The winners in the global energy sector will be the companies that embrace both low-carbon and low-cost opportunities, Norwegian major Statoil said. The Norwegian company published its annual sustainability report Continue Reading
The number of electric vehicles registered by Norwegian drivers has increased by more than 40 percent from the previous year, the government said. Statistics Norway, the government’s record-keeping agency, reported Continue Reading
Norwegian energy company Statoil takes control over the Martin Linge field in the North Sea following an agreement with French supermajor Total. Photo courtesy of Statoil March 20 (UPI) — Continue Reading
Statoil to propose name change to Equinor at AGM in May Norwegian company acquires name from Oslo veterinary practice Oil majors aren’t famed for their pranks, but Statoil ASA had Continue Reading
Norwegian energy company DNO set the bar high Wednesday for its operations in the Kurdish north of Iraq by committing to beat all of its rivals combined. “We are committed Continue Reading
Norway’s state-backed oil company Statoil STO -0.22% is changing its name to Equinor, part of its effort to recast itself as the world’s greenest oil company . Statoil—whose name won’t Continue Reading
Norwegian firm Statoil said on Thursday it will change its name to Equinor, to reflect its commitment to be a broad energy company, and not one just dedicated to oil Continue Reading
An ambiguous threat of widespread strikes in the oilfield services sector has caused Aker Solutions and Kvaerner to seek out labor leaders to potentially quell the demands of disgruntled workers, Continue Reading
Total announced on Thursday the closing of the US$7.5-billion acquisition of Denmark’s Maersk Oil that adds 1 billion barrels of oil equivalent reserves and resources to the French oil major’s Continue Reading
Exports of Norwegian gas by pipeline to the Europe slipped last month to a four-year low for the month of February, with flows totaling 9.09 Bcm, according to data from Continue Reading
Three new wells are planned as part of a multi-million-dollar drilling campaign that includes testing a new oil discovery made in British waters, Statoil said. Nearly $40 million in drilling Continue Reading
A quarter of a billion dollars in development contracts puts the Nova field in the Norwegian waters of the North Sea closer to production, Wintershall said. The Norwegian subsidiary of Continue Reading
Norway’s $1 trillion sovereign wealth fund, the world’s largest, will generally shun investments in energy sources such as coal that are unlikely to be needed in a future low-carbon society, Continue Reading
Once production starts from the Johan Sverdrup oil field in the North Sea, it could be a component of the basket of oils that make up Brent, Platts reported. Norwegian Continue Reading
“The number of licenses is the highest ever awarded in a licensing round on the Norwegian continental shelf. Access to new, prospective exploration acreage is a central pillar in the Continue Reading
Just over a year ago we noted that, after being forced to withdraw at least $15 billion to fund 2017 budget deficits, the $860 billion Norwegian sovereign wealth fund announced Continue Reading
After a disappointing year for drillers, Norwegian authorities are reviewing their hopes. (Bloomberg) — After a disappointing year for drillers, Norwegian authorities are reviewing their hopes for the Nordic country’s Continue Reading
OSLO (Reuters) – Norwegian oil companies and their suppliers will hire more people in the coming years as the industry recovers from a slump and the price of crude rises, Continue Reading
Supermajors are shunning Arctic oil exploration in Norway, or at least that’s the overwhelming feeling after the last licensing round conducted by the Norwegian Petroleum Directorate in early December. Eleven Continue Reading
Following a discouraging 2017 Arctic exploration campaign, oil companies plan to nearly double exploration drilling offshore Norway with a focus on more mature areas of the Norwegian Continental Shelf (NCS), Continue Reading
An estimated $1 billion in contracts will be awarded now that a plan for enhancing the 200 million-barrel Snorre field is on the table, Norway’s Statoil said. The Norwegian Petroleum Continue Reading
The demise of the North Sea doesn’t necessarily mean the end of Norway’s petroleum era—far from it. Still, despite significant reserves in the Barents Sea, Norway is about to embark Continue Reading
Lower industry prices, an improved global economic outlook and higher oil prices suggest a period of decline in petroleum investments is over, Norway said. Norway holds the largest crude oil Continue Reading
An oil fund without oil. The divestment of all petroleum companies would be a momentous change for Norway’s huge $1tn investment fund, itself fuelled by the country’s oil and gas Continue Reading
By cutting the break-even cost by more than half, Norwegian major Statoil said it’s decided on a development plan for the mega Johan Castberg oil field. Johan Castberg is located Continue Reading
Statoil gave the final go-ahead to a flagship Arctic oil project after slashing costs by half. (Bloomberg) — Statoil ASA gave the final go-ahead to a flagship Arctic oil project Continue Reading
Statoil owned Fagervika oil reservoirs in Trondheim, Norway in 2009. Photo by Sveter/Wikimedia Commons Nov. 30 (UPI) — Norwegian energy company Statoil said it expanded its footprint in Argentina by Continue Reading
