Equinor, Shell and Total have decided to invest in the Northern Lights project in Norway's first exploitation license for CO₂ storage on the Norwegian Continental Shelf. Plans for development and operation have been handed over to the Ministry of Petroleum and Energy.
Equinor will report its business in the US as a separate operating segment within Exploration and Production International going forward. With this Equinor will provide the same financial information for our business in the US as for the reporting segments.
Shell Gas B.V., a subsidiary of Royal Dutch Shell plc, announces that all conditions for its Final Investment Decision (FID) on a new LNG processing unit at Nigeria LNG (NLNG) have now been met.
Oil companies are dealing with a plethora of challenges due to the sudden decline in demand amid the COVID-19 pandemic. Distant storage locations increase costs as transportation fees get factored in with storage fees.
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