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Norway’s Bold Energy Shift: More Oil, Less Green?





Norway’s state oil company has declared plans on cutting down their green investments in half and focus on producing more oil and gas. Andres Opedal, the chief executive of Equinor, has announced plans to reduce their investments from 10 billion dollars to 5 billion dollars in the next two years. This will give them the capability to increase their oil and gas production by 10% which will be around 2.2 m barrels of oil equivalent a day by 2030. According to Opedal, the low carbon energy transition was not smooth as it’s planned and its costs have increased over time and it was the time for them to think about the future profitability. 

This situation has raised debates especially concerning the development of the Rosebank oilfield in the North sea. Opedal has declared even though there are controversies going around the Rosebank project, it’s an important project for them which can provide local jobs in Scotland and UK, and express the willingness to continue with the project. 

However, the environmental and climate activists criticizes this decision and raise arguments on how the new oil and gas projects will not necessarily bring down the UK energy bills and uplift energy security as renewables do. 

Opedal has also commented on Trump’s new statement “drill, baby, drill” as a positive statement towards oil and gas companies but also how the companies will operate their drilling programmes according to the energy market prices. 


What are your thoughts about this transition; will it help to lower the bills and help Europe and UK be independent in oil and gas? 




https://www.bbc.com/news/articles/c1jg7k1kjwyo


https://www.theguardian.com/world/2025/feb/05/norways-state-oil-firm-lobbying-to-open-rosebank-oilfield-halves-green-investments?utm_source=chatgpt.com


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