Latest news with #EquinorASA
Yahoo
06-06-2025
- Business
- Yahoo
Equinor and Centrica Ink $27 Billion Natural Gas Supply Deal for U.K.
Equinor ASA (NYSE:EQNR) has signed a new long-term deal with U.K. energy company Centrica, worth roughly £20 billion ($27.1 billion), to supply natural gas to the U.K. over the next decade. Starting October 1, the agreement is based on current market prices and will provide about 10% of the country's annual gas needs. Despite efforts to cut back on fossil fuels, around 70% of U.K. homes still rely on gas for heating, and gas power plants contribute roughly 25% of the nation's electricity. Under the agreement, Equinor ASA (NYSE:EQNR) will deliver about 5 billion cubic meters of gas per year, compared to the U.K.'s 2024 total demand of 55.8 billion cubic meters. Equinor ASA (NYSE:EQNR) Chief Executive Anders Opedal made the following statement: 'This agreement will continue to support the U.K.'s energy security with reliable gas supplies from the Norwegian continental shelf.' This deal replaces an earlier 10-year contract between the two companies that began in 2015 and ends in 2025. Last year, the U.K. imported nearly two-thirds of its gas supply, with Norway accounting for half of those imports, especially after Russian gas exports to Europe dropped following the 2022 invasion of Ukraine. EQNR has surged by over 4% in the past month. While we acknowledge the potential of EQNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
02-06-2025
- Business
- Yahoo
Election to Equinor's board of directors
In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 2 June 2025 Dawn Summers was elected as a new member of the board of directors of Equinor ASA. The corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater as deputy chair of the board, in addition to re-election of Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Tone Hegland Bachke as members of the board of directors. The current member, Jonathan Lewis will resign from the board of directors as of 30 June 2025. Dawn Summers is elected as a new member of the board of directors of Equinor ASA. The election of the shareholder representatives to the board of directors of Equinor ASA enters into effect from 1 July 2025, with the exception of Dawn Summers who is elected with effect from 1 September 2025, all with effect until the ordinary election of shareholder-representatives to the board of directors in June 2026. Further, the corporate assembly re-elected Hilde Møllerstad, as employee-representative and elected Frank Indreland Gundersen and Geir Leon Vadheim as new employee-representatives of the board of directors of Equinor ASA. Also, Anette Heggholmen, Terje Werner Hansen and Hans Einar Haldorsen were elected as deputy members for the employee-representatives of the board. The election of employee-representative members to the board of directors enters into effect from 1 July 2025 and is effective until the ordinary election of employee-representatives to the board of directors in 2027. Contacts: Nils Morten Huseby, chair of the nomination committee All enquiries to be directed through Equinor Corporate Press Office,Sissel Rinde, +47 412 60 584 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act
Yahoo
28-05-2025
- Business
- Yahoo
New York's monstrous new wind farm threatens environmental disaster
Earlier this month, the Trump administration temporarily took the wind out of New York's green energy ambitions by halting the enormous Empire Wind project off the state's coast. Doug Burgum, the Interior Secretary, directed the Bureau of Ocean Energy Management to cease all construction activities on the farm, citing rushed approvals and insufficient interagency consultation under the Biden administration. He also ordered a broader review of federal wind permitting practices for both existing and pending projects. Following blowback from New York politicians, however, the Interior Department has once again allowed the project to proceed. It was right the first time. As president Trump has observed, wind power is both ugly and noisy. These projects are also of dubious economic and environmental value, and have sparked a backlash among voters that their advocates have little answer to. The Empire Wind project, developed by Norwegian energy giant Equinor ASA, will be the first offshore wind farm to deliver electricity directly to New York City. Granted approval in November 2023, it was the sixth such project approved by the Biden administration as part of its goal to reach 30 gigawatts of offshore wind capacity by 2030. With a projected capacity of 810 megawatts and a gross book value of $2.5 billion, construction began last month with rock installations around the turbine bases. Some local residents have always opposed the Empire Wind project. Bonnie Brady, executive director of the Long Island Commercial Fishing Association, condemned it as 'the industrialisation of our ocean, rubber-stamped by federal agencies and delivered by a foreign-owned corporation under the guise of climate action'. She warned that the project involves dumping 3.2 billion pounds of rock into the ocean and pile-driving 180-foot monopoles into the seafloor – activities that she said could destroy marine habitats and threaten the fishing industry. Endangered species like the North Atlantic right whale could also be harmed, she added. Opposition to Empire Wind is not an isolated case. In Massachusetts, the Vineyard Wind 1 project – a 62-turbine wind energy plant off Nantucket and Martha's Vineyard – recently survived a Supreme Court challenge. Approved in 2021, it was the first large-scale offshore wind project in the US and is expected to deliver 800 megawatts of capacity. Construction began in 2022 with cable installation and continued in 2023 with turbine installation. It is on track to be completed this year but has faced a substantial backlash. The Nantucket-based ACK for Whales group has criticised the 'environmental damage caused by offshore wind projects like Vineyard Wind'. It added: 'for way too long the 'all of government approach' advancing offshore wind has been reckless'. Meanwhile, in Rhode Island, the Revolution Wind project is also facing hostility. The nonprofit Green Oceans has formally requested that the Environmental Protection Agency revoke the project's permits, citing a failure to consider emissions from potential blade failures. Despite this, construction continues. The SouthCoast Wind project, approved only recently, is one of the largest of them all. Spanning 127,388 acres and potentially costing $5 billion, it is claimed that it could produce up to 2.4 gigawatts of energy for Rhode Island and Massachusetts. Yet the environmental costs could be significant. The National Marine Fisheries Service has authorised the 'take' of marine mammals due to pile driving, unexploded ordnance detonation, and high-resolution geophysical surveys. The noise from pile-driving can exceed 225 underwater decibels – comparable to standing next to a Boeing 747 engine underwater – posing serious risks to marine life. The SouthCoast Wind Project's record of decision includes pages of comments from individuals citing safety risks, aesthetic concerns, and threats to whale populations. These voices are often drowned out by the political momentum behind green energy, but they deserve to be heard. Radar interference is another concern. According to a Government Accountability Office report, wind turbines could reduce radar performance. Offshore wind plants may also obstruct military exercises and vessel movement. The full extent of these effects remains unknown, but experts warn that turbine position, height, and spacing could have significant consequences. The UK is also seeing blowback on wind. Earlier this month, the Danish company Orsted pulled out of building Hornsea 4, a large wind farm off the coast of Yorkshire, due higher interest rates and increased supply chain costs. This should be a moment of reflection. Both the UK and Europe have embraced wind power as a pillar of their net-zero strategies, but opposition is beginning to surface. A similar phenomenon is happening in the United States, after the Biden administration's precipitous decision-making. States which require use of renewable energy tend to have higher prices than states that use fossil fuels and nuclear power. Offshore wind is noisy, and ugly, and it becomes less desirable when approached with transparency, scientific rigour, and respect for the ecosystems it affects. Rushing through approvals without rigorous oversight is not climate leadership – it's recklessness. Green energy must meet the same standards we demand of any major infrastructure project. Diana Furchtgott-Roth is the director of the Center for Energy, Climate and Environment at The Heritage Foundation Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
27-05-2025
- Business
- Yahoo
Equinor ASA: Execution of debt capital market transactions
On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions: Issue of USD 550 million 4.25% Notes due June 2, 2028 Issue of USD 400 million 4.50% Notes due September 3, 2030 Issue of USD 800 million 5.125% Notes due June 3, 2035 The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company. The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions. Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective. Further information from: Investor relations:Bård Glad Pedersen, Senior Vice President, Investor Relations,+47 918 01 791 Press:Rikke Høistad Sjøberg, Media Relations,+47 901 01 451 Finance:Sverre Serck-Hanssen, Vice President, Capital Markets,+47 951 68 342 This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC's website at Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Yahoo
27-05-2025
- Business
- Yahoo
Equinor ASA: Execution of debt capital market transactions
On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions: Issue of USD 550 million 4.25% Notes due June 2, 2028 Issue of USD 400 million 4.50% Notes due September 3, 2030 Issue of USD 800 million 5.125% Notes due June 3, 2035 The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company. The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions. Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective. Further information from: Investor relations:Bård Glad Pedersen, Senior Vice President, Investor Relations,+47 918 01 791 Press:Rikke Høistad Sjøberg, Media Relations,+47 901 01 451 Finance:Sverre Serck-Hanssen, Vice President, Capital Markets,+47 951 68 342 This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC's website at Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
