In 2025-2027, Equinor will reduce investments in renewable energy and low-carbon solutions by 2 times to almost $5 billion from $10 billion. The expected capacity of renewable energy sources will decrease to 10-12 GW by 2030. This is stated in the company's message.
The international asset portfolio will be expanded through an agreement to establish the UK's largest independent oil and gas company together with Shell. The new company is expected to produce over 140,000 barrels of oil equivalent in 2025.
Free cash flow is expected to grow to $23 billion over two years. Oil and gas production should increase by more than 10%. The company also plans to produce 2.2 million barrels of oil equivalent per day by 2030. Production at NCS is expected to remain at a high level of about 1.2 million barrels per day until 2035.
At the same time, Equinor expects that by 2030, the intensity of CO2 emissions will be about 6 kg per barrel. The company is on track to achieve its goal of reducing CO2 emissions by 50%. By 2035, it is planned to store 30-50 million tons of CO2 per year.
Equinor is a state—owned Norwegian international energy company with headquarters in Stavanger, Norway. The company is engaged in the extraction and processing of oil and gas raw materials, the production of electricity and hydrogen.
