Latest news with #EquinorASA
Yahoo
3 days ago
- Business
- Yahoo
New York's monstrous new wind farm threatens environmental disaster
Earlier this month, the Trump administration temporarily took the wind out of New York's green energy ambitions by halting the enormous Empire Wind project off the state's coast. Doug Burgum, the Interior Secretary, directed the Bureau of Ocean Energy Management to cease all construction activities on the farm, citing rushed approvals and insufficient interagency consultation under the Biden administration. He also ordered a broader review of federal wind permitting practices for both existing and pending projects. Following blowback from New York politicians, however, the Interior Department has once again allowed the project to proceed. It was right the first time. As president Trump has observed, wind power is both ugly and noisy. These projects are also of dubious economic and environmental value, and have sparked a backlash among voters that their advocates have little answer to. The Empire Wind project, developed by Norwegian energy giant Equinor ASA, will be the first offshore wind farm to deliver electricity directly to New York City. Granted approval in November 2023, it was the sixth such project approved by the Biden administration as part of its goal to reach 30 gigawatts of offshore wind capacity by 2030. With a projected capacity of 810 megawatts and a gross book value of $2.5 billion, construction began last month with rock installations around the turbine bases. Some local residents have always opposed the Empire Wind project. Bonnie Brady, executive director of the Long Island Commercial Fishing Association, condemned it as 'the industrialisation of our ocean, rubber-stamped by federal agencies and delivered by a foreign-owned corporation under the guise of climate action'. She warned that the project involves dumping 3.2 billion pounds of rock into the ocean and pile-driving 180-foot monopoles into the seafloor – activities that she said could destroy marine habitats and threaten the fishing industry. Endangered species like the North Atlantic right whale could also be harmed, she added. Opposition to Empire Wind is not an isolated case. In Massachusetts, the Vineyard Wind 1 project – a 62-turbine wind energy plant off Nantucket and Martha's Vineyard – recently survived a Supreme Court challenge. Approved in 2021, it was the first large-scale offshore wind project in the US and is expected to deliver 800 megawatts of capacity. Construction began in 2022 with cable installation and continued in 2023 with turbine installation. It is on track to be completed this year but has faced a substantial backlash. The Nantucket-based ACK for Whales group has criticised the 'environmental damage caused by offshore wind projects like Vineyard Wind'. It added: 'for way too long the 'all of government approach' advancing offshore wind has been reckless'. Meanwhile, in Rhode Island, the Revolution Wind project is also facing hostility. The nonprofit Green Oceans has formally requested that the Environmental Protection Agency revoke the project's permits, citing a failure to consider emissions from potential blade failures. Despite this, construction continues. The SouthCoast Wind project, approved only recently, is one of the largest of them all. Spanning 127,388 acres and potentially costing $5 billion, it is claimed that it could produce up to 2.4 gigawatts of energy for Rhode Island and Massachusetts. Yet the environmental costs could be significant. The National Marine Fisheries Service has authorised the 'take' of marine mammals due to pile driving, unexploded ordnance detonation, and high-resolution geophysical surveys. The noise from pile-driving can exceed 225 underwater decibels – comparable to standing next to a Boeing 747 engine underwater – posing serious risks to marine life. The SouthCoast Wind Project's record of decision includes pages of comments from individuals citing safety risks, aesthetic concerns, and threats to whale populations. These voices are often drowned out by the political momentum behind green energy, but they deserve to be heard. Radar interference is another concern. According to a Government Accountability Office report, wind turbines could reduce radar performance. Offshore wind plants may also obstruct military exercises and vessel movement. The full extent of these effects remains unknown, but experts warn that turbine position, height, and spacing could have significant consequences. The UK is also seeing blowback on wind. Earlier this month, the Danish company Orsted pulled out of building Hornsea 4, a large wind farm off the coast of Yorkshire, due higher interest rates and increased supply chain costs. This should be a moment of reflection. Both the UK and Europe have embraced wind power as a pillar of their net-zero strategies, but opposition is beginning to surface. A similar phenomenon is happening in the United States, after the Biden administration's precipitous decision-making. States which require use of renewable energy tend to have higher prices than states that use fossil fuels and nuclear power. Offshore wind is noisy, and ugly, and it becomes less desirable when approached with transparency, scientific rigour, and respect for the ecosystems it affects. Rushing through approvals without rigorous oversight is not climate leadership – it's recklessness. Green energy must meet the same standards we demand of any major infrastructure project. Diana Furchtgott-Roth is the director of the Center for Energy, Climate and Environment at The Heritage Foundation Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
4 days ago
- Business
- Yahoo
Equinor ASA: Execution of debt capital market transactions
On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions: Issue of USD 550 million 4.25% Notes due June 2, 2028 Issue of USD 400 million 4.50% Notes due September 3, 2030 Issue of USD 800 million 5.125% Notes due June 3, 2035 The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company. The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions. Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective. Further information from: Investor relations:Bård Glad Pedersen, Senior Vice President, Investor Relations,+47 918 01 791 Press:Rikke Høistad Sjøberg, Media Relations,+47 901 01 451 Finance:Sverre Serck-Hanssen, Vice President, Capital Markets,+47 951 68 342 This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC's website at Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Yahoo
4 days ago
- Business
- Yahoo
Equinor ASA: Execution of debt capital market transactions
On Tuesday May 27, 2025 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions: Issue of USD 550 million 4.25% Notes due June 2, 2028 Issue of USD 400 million 4.50% Notes due September 3, 2030 Issue of USD 800 million 5.125% Notes due June 3, 2035 The net proceeds from the issue of the Notes will be used for general corporate purposes, which may include the repayment or purchase of existing debt or other purposes described in the prospectus supplement for the issue of Notes. The transaction will increase the financial flexibility of the company. The offering is scheduled to close on June 3, 2025, subject to the satisfaction of customary conditions. Any public offering in the United States is being made solely by means of a prospectus supplement to the prospectus included in the Registration Statement filed by Equinor ASA and Equinor Energy AS, and previously declared effective. Further information from: Investor relations:Bård Glad Pedersen, Senior Vice President, Investor Relations,+47 918 01 791 Press:Rikke Høistad Sjøberg, Media Relations,+47 901 01 451 Finance:Sverre Serck-Hanssen, Vice President, Capital Markets,+47 951 68 342 This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of Equinor ASA nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus and related prospectus supplement. The prospectus and related preliminary prospectus supplement may be obtained by visiting the SEC's website at Alternatively, you may request these documents by calling (1) Barclays Capital Inc. at 1-888-603-5847, (2) BofA Securities, Inc. at 1-800-294-1322, (3) Deutsche Bank Securities Inc. at 1-800-503-4611, (4) Goldman Sachs & Co. LLC at 1-866-471-2526, or (5) J.P. Morgan Securities LLC at 1-212-834-4533. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Yahoo
5 days ago
- Business
- Yahoo
Equinor ASA: Share buy-back – second tranche for 2025
Please see below information about transactions made under the second tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO). Date on which the buy-back tranche was announced: 30 April 2025. The duration of the buy-back tranche: 16 May to no later than 21 July 2025. Further information on the tranche can be found in the stock market announcement on its commencement dated 30 April 2025, available here: From 20 May to 23 May 2025, Equinor ASA has purchased a total of 1,598,536 own shares at an average price of NOK 241.7961 per share. Overview of transactions: Date Trading venue Aggregated daily volume (number of shares) Daily weighted average share price (NOK) Total daily transaction value (NOK) 20 May OSE 233,536 245.4223 57,314,942.25 CEUX TQEX 21 May OSE 445,000 245.3880 109,197,660.00 CEUX TQEX 22 May OSE 470,000 239.0545 112,355,615.00 CEUX TQEX 23 May OSE 450,000 239.2256 107,651,520.00 CEUX TQEX Total for the period OSE 1,598,536 241.7961 386,519,737.25 CEUX TQEX Previously disclosed buy-backs under the tranche OSE CEUX TQEX Total Total buy-backs under the tranche (accumulated) OSE 1,598,536 241.7961 386,519,737.25 CEUX TQEX Total 1,598,536 241.7961 386,519,737.25 Following the completion of the above transactions, Equinor ASA owns a total of 88,201,525 own shares, corresponding to 3.16% of Equinor ASA's share capital, including shares under Equinor's share savings programme (excluding shares under Equinor's share savings programme, Equinor owns a total of 79,469,863 own shares, corresponding to 2.85% of the share capital). This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at Contact details: Investor relationsBård Glad Pedersen, senior vice president Investor Relations,+47 918 01 791 MediaSissel Rinde, vice president Media Relations,+47 412 60 584 Attachment Detailed overview of transactionsError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Recommendation from Equinor's nomination committee
The nomination committee in Equinor ASA (OSE:EQNR, NYSE:EQNR) recommends that the company's corporate assembly elects Dawn Summers as a new member to the board of directors of Equinor ASA Further, the nomination committee recommends a re-election of Jon Erik Reinhardsen as chair and Anne Drinkwater as deputy chair of the board, in addition to re-election of Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Tone Hegland Bachke as members of the board of directors. Current member, Jonathan Lewis will resign from the board of directors as of 30 June 2025. It is recommended that Dawn Summers' election takes effect from 1 September 2025. Dawn Summers served as Interim Chief Operating Officer at Harbour Energy from 2024 - 2025. In this position, she was responsible for ensuring business continuity and smooth operations integration following Harbour Energy's acquisition of Wintershall Dea, where she was as Chief Operating Officer and board member from 2020-2024. In this role, she was responsible for safe business delivery and also led efforts to develop early-stage carbon capture and storage (CCS) and hydrogen projects. Before this, Summers held COO roles at Beach Energy from 2018-2020 and Origin Energy from 2016-2018. She was executive Head of HSE, Operations & Developments with General Energy from 2013-2015 and has held several positions with BP plc from 1995-2013. Summers is active in European energy policy. As former Chair of the European Board of the International Association of Oil & Gas Producers (IOGP), she led strategic engagement with EU institutions on energy transition policy and energy security. She also served as President of GasNaturally, promoting secure approaches to climate resilience across the gas value chain. Summers is a strong advocate for diversity and inclusion in the energy sector and committed to mentoring the next generation of women leaders in STEM fields. Summers has a Bachelor of Engineering (with Honours) in Chemical Engineering from Edinburgh University and Executive Operations Leadership from MIT Sloan School of Management in Massachusetts, USA. The election to the board of directors of Equinor ASA takes place in the company's corporate assembly meeting Monday 2 June 2025. It is proposed that the election takes effect from 1 July 2025, with the exception of Dawn Summers who is proposed elected with effect from 1 September 2025, all with effect until the ordinary election of members to the board of directors in June 2026. Contacts: Nils Morten Huseby, chair of the nomination committee All enquiries to be directed through Equinor Corporate Press Office,Sissel Rinde, +47 412 60 584. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
