Equinor will expand investments in renewable energy

Oil company Equinor will accelerate its investments in renewable energy and low-carbon solutions, while new oil and gas projects go into operation before reaching a peak in production in 2026. The statement was made by the company on Tuesday (15).

Equinor said it will devote more than 50% of investments to renewable energy and CO2 capture by 2030, up from less than 5% by 2020, meeting the demands of norwegian investors and some politicians. The announcement comes at a time when the company has been under pressure to prove it can adapt to a greener future.

Thus, more than half of the spending will be directed to investments such as wind and solar power, carbon capture and storage, which prevent emissions of gases into the atmosphere, the company said.


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