Equinor Lacks Spare Capacity to Lift Oil and Gas Output
Equinor CEO Anders Opedal says the firm lacks spare capacity to boost output despite Middle East supply gaps. Norway remains at its maximum production level.
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Norway's state-controlled energy giant EQUINOR ASA has reached its maximum production limit, leaving the company with no spare capacity to increase oil and gas output despite global supply shortfalls. CEO Anders Opedal stated on Thursday that the firm is focused on maintaining its current high levels of production to remain a stable provider for its primary markets.
"Our focus today is to make sure that we can be seen as a reliable provider of oil and gas to the markets we operate in and make sure we have the highest production possible, because its really needed these days."
