Equinor hones its ‘high-grade’ global portfolio

The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria

Norway’s state-owned Equinor is trying to refocus its portfolio around fewer countries and geographies, Philippe Mathieu, executive vice-president for exploration and production international at the firm, explained to Petroleum Economist. The “three key countries” are Brazil, the US and the UK, he continued, saying these are locations where “we have the possibility of creating more value by building on the positions that we have, the competencies or the assets”. Mathieu cited last year’s takeover of Canada-based Suncor’s UK business as an example of the firm deepening its position in the UK, while 2023 also saw it divest its Nigerian and Azerbaijani assets as part of the same portfolio high-