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...Equinor, formerly known as Statoil, said it had ramped up production of gas in Norway by 18 per cent to help meet European demand following the withdrawal of vast Russian volumes....
...Equinor, previously known as Statoil, has one of the largest exploration budgets in the industry....
...He took over Equinor, as Statoil is now known, in October 2014, when Brent crude was collapsing from $115 per barrel. He leaves in a year when oil has plunged by a third....
...Mr Saetre, a former finance director at the company previously known as Statoil, was initially reluctant to become chief executive but has steered the group through two sharp falls in the oil price and oversaw...
...The group, formerly known as Statoil, has already laid out plans to curb capital spending, exploration activities and axe costs by $3bn to preserve cash....
...Jacob Schram, a 57-year-old Norwegian, previously ran Statoil’s former petrol station business. He will take over at the airline on January 1....
...*The text has been changed slightly to reflect that the privatised Statoil was later rebranded as Equinor....
...Equinor, formerly known as Statoil, said however that it was cutting capex guidance to around $10bn for the year from $11bn previously, in a move that is likely to soothe investor fears that costs will start...
...Equinor, which was previously known as Statoil, cut its guidance for capex from $11bn to $10bn....
...The deal, which will see Equinor — previously known as Statoil — buy Chevron’s 40 per cent stake in the project for an undisclosed sum, marks a recommitment to the UK sector from Norway at a time when US...
...Irene Rummelhoff, executive vice president for new energy solutions at Equinor - formerly known as Statoil - said the deal will strengthen the company’s position in power generation from renewable energy...
...Higher oil prices and rising production helped Statoil increase earnings by a third in the first quarter, although the results lagged slightly behind analysts’ consensus expectation....
...BP has named the former chief executive of BG Group and Statoil, Helge Lund, as its new chairman, the oil group said on Thursday....
...Statoil’s fourth quarter earnings came in ahead of expectations on the back of higher oil prices and record output....
...Statoil also posted a video to YouTube, entitled “Thank you Statoil! It’s been a pleasure”, which features “stories of change” including babes in arms and a cartoon butterfly emerging from a chrysalis....
...Norway’s Statoil grew earnings by a third year on year and, in Texas, ExxonMobil earnings leapt 16 per cent....
...Equinor, the Norwegian group previously known as Statoil, gave a similar commitment....
...“This transaction adds material and attractive long-term production to our international portfolio, further strengthening the position of Brazil as a core area for Statoil,” said Eldar Saetre, Statoil’s...
...Output from this field will triple Statoil’s still small Brazilian production. This move makes good sense for Statoil and Petrobras. Oil investment is changing in Brazil....
...Statoil’s recent recovery suffered a setback in the third quarter despite higher oil prices, as problems at one of its sites in North America weighed on profits at the Norwegian oil major....
...Instead, Statoil now forecasts capital spending will be NKr49bn ($6bn) at a break-even of less than $35....
...Statoil is majority-owned by the Norwegian government....
...Statoil is hoping to make an investment decision on its much-delayed Johan Castberg field in the area by the end of the year....
...Statoil returned to exploration in the Barents Sea this year for the first time since 2014....
...Statoil holds a 70 per cent stake in the project, alongside Jersey Oil and Gas at 18 per cent, and CIECO Exploration and Production at 12 per cent. (Image: PA)...
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