Norwegian major Equinor and Russia's Rosneft on Sept. 28 signed an agreement to collaborate on carbon management, including potential collaboration on the use of renewables, carbon capture, utilization and storage and low-carbon hydrogen solutions.
Under the agreement, the companies will share experience and explore opportunities within such areas as reduction in flaring and methane emissions, energy efficiency and reporting of greenhouse gas emissions. Additionally, both companies will join forces to develop low-carbon solutions and reduce the carbon footprint from joint projects, Equinor said Sept. 29.
“Equinor aims to proactively support emissions reductions wherever we invest based on our decades of experience from Norway," said Al Cook, executive vice president for E&P Intl. at Equinor. "We are happy to work together with Rosneft and share best practice to address climate change."
The cooperation covers several joints upstream projects, including the North Komsomolskoye pilot project for viscous oil development in West Siberia. Both companies will engage in joint activities in the area of sustainability based on the United Nations Sustainable Development Goals and recognized ESG frameworks.
2022-08-08 - Stratas Advisors expects oil prices will rebound from the current level and, for the most part, remain throughout the third quarter within the channel between $100 and $120. Here’s why.
2022-05-18 - Refining activity picked up in the most recent week, in response to tight product inventories and near-record exports that have forced diesel and gasoline prices to record levels in the U.S.
2022-06-16 - Wood Mackenzie reported that fuel prices are expected to remain high leading into the next year, with pressure easing in the second half of 2023.
2022-06-08 - Brent crude futures and WTI crude futures in the U.S. rose immediately following the data release, along with gasoline and distillate futures.
2022-06-17 - Heavy crudes are cheaper than lighter shale oils produced in the U.S. and typically make more diesel and less gasoline.