Equinor to Delay Projects If Norway Doesn’t Improve Tax Proposal

Equinor will be forced to delay oil, gas and electrification projects in Norway if the government doesn’t improve its tax-deferral proposal, CEO Eldar Saetre says in a webcast press conference after the company’s 1Q report.

Examples of projects that would need to be delayed are Wisting, Krafla, Peon and electrification of Hammerfest LNG plant
- NOTE: April 30, Norway Oil Lobby Says Government Tax Measures Aren’t Good Enough
Equinor expects production startup on its Martin Linge, Njord, Bauge and Peregrino 2 projects, planned this year, to be delayed to 2021 because of challenges related to coronavirus
Equinor can’t rule out layoffs or job cuts
CEO says gas market is likely to rebalance faster than oil market
EARLIER: Equinor Abandons Production Target as Profit Plunges 63%

To contact the reporter on this story:
Mikael Holter in Oslo at mholter2@bloomberg.net

To contact the editors responsible for this story:
Tasneem Hanfi Brögger at tbrogger@bloomberg.net

Stephen Treloar

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