Published 18 days ago • loading... • Updated 15 days ago

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor is reducing its investments in renewables to around $5 billion, nearly halving its previous budget, to adapt to market conditions in the energy sector.
The company is lowering its renewable capacity target to 10-12 gigawatts by 2030, down from a previous target of 12 to 16 gigawatts.
CEO Anders Opedal stated that the transition to greener energy is moving slowly and becoming more expensive due to various challenges.
Equinor plans to increase its oil and gas production by 10% over the next two years while scaling back its renewables investments.

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Daily Express

Norway energy giant cuts green investment by £4bn and starts digging for oil

An energy giant is changing tack as it hopes to use natural resources for power generation.

17 days ago·United Kingdom

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intellinews.com

Norway’s Equinor rolls back climate targets

Norwegian energy firm Equinor has scaled back its climate goals amid increasing headwinds.

17 days ago

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BBC News

Norwegian oil giant cuts green investment in half

https://www.bbc.com/news/articles/c1jg7k1kjwyo Simon JackBBC Business editorGetty ImagesChief executive Anders Opedal said the transition to lower carbon energy was moving slower than expectedNorwegian energy giant Equinor is halving investment in renewable energy over the next two years while increasing oil and gas production.Chief executive Anders Opedal said that the transition to lower… Source

17 days ago·United Kingdom

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De Telegraaf

These oil giants promised to invest in cleaner energy – yet now they're cutting millions

Norway’s largest energy company dropped ‘oil’ from its corporate name, but as Equinor it is increasing oil and gas production. At the same time, it is halving investments in green energy sources. TotalEnergies is also cutting back on sustainable projects.

18 days ago·Amsterdam, Netherlands

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Oil Price

Equinor Cuts Renewable Energy Investments and Targets

Equinor is reducing its investments in renewables to boost returns for shareholders and adapt to an uneven energy transition, the Norwegian energy major said on Wednesday, becoming the latest European oil and gas firm to scale back capital allocation to low-carbon energy solutions. Equinor will nearly halve its investments in renewables and low carbon solutions to around $5 billion in total after project financing for 2025-2027, it said today in…

18 days ago·London, United Kingdom

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The Local - No

Norway's Equinor to scale back investment in renewable energy

Norwegian oil and gas giant Equinor said on Wednesday it would scale back its renewable energy ambitions as it reported a steep drop in net profit in 2024.

18 days ago·Norway

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