Equinor Sees the Light – Cuts Renewable Investment, Expands O&G

We've been pretty hard on Equinor since 2018 when Statoil changed its name to Equinor, apparently ashamed of being associated with the term oil (see Statoil Gets a New Name Starting Today – Equinor). Equinor, which is based in and owned by Norway, is the largest supplier of energy to Europe. Equinor's activities span 36 countries, including the U.S., and it ranks among the world's top oil and gas companies in terms of production, revenue, and influence in the energy sector. Equinor lost its way for the past six years, thinking it would transition itself (a tranny oil company!) into a renewable energy company. As other big European companies like Shell and BP have discovered, oil drillers don't make money in renewables. Equinor has finally seen the same light and is significantly scaling back its investments in renewable programs. Instead, it is growing the money it spends to drill for oil and gas.

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