Equinor lets oil lie to instead sell gas
Natural gas has become so expensive that Equinor has dropped standard procedure at a Norwegian field. Rather than using the gas to boost oil extraction, the company will now sell the normally cheaper commodity directly. A huge step, says CFO and mulls expanding the method.
BY MAZ PLECHINGER, TRANSLATED BY DANIEL FRANK CHRISTENSEN
At many offshore oil platforms around the world, natural gas has historically been a slightly superfluous byproduct. In many cases, gas has simply been burned off in endless flaring columns because the price has been so low that operators couldn't be bothered to transport the stuff ashore.
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