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

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.

Norway’s Equinor rolls back climate targets

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

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

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.

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…

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.