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The Energy Group supported by the Norwegian state, which dropped the oil from its name as part of the payment of renewable energy sources due to fossil fuels in the search for the returns of shareholders.
TimingIt was renamed from Statoil in 2018, on Wednesday that she plans to increase fossil fuel production and half of its spending on renewable energy sources, as CEO Anders said that he was aiming to “create value for shareholders for upcoming contracts.”
Under its new goals, the company plans to produce 2.2 million barrels of equivalent oil daily by 2030, 10 percent higher than previous expectations.
It reduced its goal of renewable energy sources to 10GW-12GW from a previous goal of 12GW-16GW. Investment in renewable energy sources and other low carbon technology will be reduced between 2025 and 2027 to 5 billion dollars, a decrease from about 10 billion dollars, except for the project financing.
“The horses are in a good position for further growth and the returns of competitive shareholders,” said Opedal at the time when the company released its results for 2024.
He added that the group now expects the strongest free cash flow, which will achieve “by breaking the wallet, which reduces investment expectations for renewable breeds and low carbon solutions, and improve the cost through our organization.”
Opeedal said the company's general strategic trend has not changed and that it still aims to reach the “Net Zero” emissions by 2050.
He said: “We continue to reduce emissions from our production and build profitable business in renewable energy sources and low carbon solutions.” “Through adaptation to the market and opportunities mode, we are scheduled to create a value for shareholders for upcoming contracts.”
The timing step comes after Shell and BP Disclosure plans to diversify Away from fossil fuel under pressure from shareholders to continue providing returns at the oil and gas level.
Analysts expect BP to drop or expand its scope for the renewed capacity by 2030 on the day of invested this month.
Fuul, the world's largest power dealer in the world, said this week that global demand for oil It will not fall until at least 2040While US President Donald Trump pledged last month to “drill, child, drilling” to exploit the country's oil resources.
The announcement of the timing comes after he said in October that she was buying a Near a 10 percent stake In the largest wind developer in the world.
This step will make the balance closer to the goals of renewable energy sources with less money, which will cost the development of the capacity of zero in itself.
On Wednesday, the CEO of Totalenergies Patrick Bouiani said that the matter is not worthy of wind projects abroad in the United States over the next four years because they have a “little chance of declaring” due to Trump's opposition.
Total put a striped wind farm off the New York and New Jersey coast in November, but Bojan said that the group would return to the project at a later time.
Nevertheless, CEO said that Total is still investing in renewable energy sources in the United States and that projects are expected to rely on support from the American states, instead of the federal government, to continue.
Comments as a total of $ 18.3 billion in 2024, by 21 percent of the previous year against the backdrop of the weak oil markets and a decrease in the duplicate of margins.
But the company said it would reduce its organic investment goal for 2025 from 18 billion dollars to $ 17 billion.
