Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Quick Summary:

Equinor’s announcement comes after it said in October it was buying a near 10 per cent stake in the world’s largest offshore wind developer Ørsted.

It lowered its target for renewables capacity to 10GW-12GW from a previous target of 12GW-16GW.

Under its new targets, the company plans to produce 2.2mn barrels of oil equivalent a day by 2030, 10 per cent higher than previous expectations.

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Article Details

Author / Journalist: Rachel Millard

Category: MarketsFinanceInvesting

Markets: United States

Topics: Opedal Targets Target Fuels Fossil Renewables Equinor Financial Shareholder Plans Returns

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 08:26:29 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Financial Times

News ID: 25906384

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