Production & processing

Norway

Equinor has launched new climate ambitions to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40% by 2030, 70% by 2040 and to near zero by 2050. By 2030 this implies annual cuts of more than 5 million tons, corresponding to around 10% of Norway’s total …

permian besin

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could mean cutthroat competition ahead. Producers in the West Texas and New Mexico oilfield are pumping about 4.72 million barrels a day, according to Rystad Energy …

offshore

ExxonMobil has secured more than 1.7 million acres for exploration offshore Egypt. “These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look forward to working with the government and deploying our proven expertise and advanced technology.” The acquisition includes acreage …

Equinor

Equinor and Rosneft have taken an investment decision on the first stage of the North Komsomolskoye full field development. “This is an important milestone in the joint project that we have been working on for seven years,” said Elisabeth Birkeland Kvalheim, country manager for Equinor in Russia. The North Komsomolskoye project was a part of …

The Netherlands

The Netherlands has announced a new LNG incentive scheme offering €0.19 discount per kilogram of LNG purchased between 1st January (2020) and 31st December 2021. When the scheme enters into force on 1st January, the discount will be automatically be applied by all LNG station owners and operators in the Netherlands. The scheme is in …

saudi arabia

Saudi Arabia is offering fellow OPEC+ members a quid pro quo: If you stop cheating, we’ll curb production. With just hours to go before the Organization of Petroleum Exporting Countries’ meeting in Vienna, it was unclear if the kingdom was simply offering to return to its average output for 2019 — ending a brief surge …