Equinor

Equinor ASA is a Norway-based integrated energy company, formerly known as Statoil, with a global portfolio spanning oil, gas, renewables and low-carbon technologies. Headquartered in Stavanger, Equinor operates in more than 30 countries and is majority-owned by the Norwegian State.

Equinor’s operations are grounded in a strong legacy of offshore oil and gas production in the North Sea, where it remains a dominant player. In 2023, the company produced around 2 million boepd, with about 65% of that from international assets. Its upstream business includes conventional, deepwater and shale production, with key international assets in Brazil, the US Gulf of Mexico and Angola.

Downstream, Equinor has trading, refining and processing assets, including the Mongstad refinery in Norway. The company also manages extensive gas transportation infrastructure in Europe, notably through the Gassled pipeline system and long-term gas supply contracts to continental Europe.

Renewables and low-carbon approach:

• Equinor is undergoing a strategic transition to become a broad energy company. Its ambition is to achieve net-zero emissions by 2050, including both Scope 1 and 2 and partial Scope 3 emissions. Between 2021 and 2030, the company plans to invest over USD 23 billion in renewables and low-carbon solutions.
• The company has a strong foothold in offshore wind, with projects such as Dogger Bank in the UK – the world’s largest offshore wind farm under development – and Empire Wind in the US. Equinor aims to reach 12–16 GW of installed renewables capacity by 2030.
• In carbon management, Equinor co-operates the Northern Lights project, a flagship CO2 transport and storage development in Norway, and is exploring clean hydrogen as a key decarbonization vector, especially in Germany and the UK.

Equinor’s strategy is rooted in value-driven growth across its legacy hydrocarbons and emerging energy businesses. It aims to remain a reliable supplier during the global energy transition while scaling up its renewables and low-carbon segments. Capital discipline, safety and environmental stewardship remain core to its operations.