WorldOil OPEC sees growing supply threat from rivals beyond U.S. shale OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices. Neptune Energy awarded 13 licenses in Norway’s continental shelf Odin Estensen, managing director of Neptune Energy in Norway, said “The awards support our strategy to grow operatorship and acreage in and around our core areas. Through this latest licensing round we have secured four more awards than in 2019, a record for our company in Norway.” Equinor awarded 23 new production licenses on the Norwegian continental shelf “The award enables us to mature new prospects and prove profitable resources that can be developed within the scope of our new climate roadmap for the Norwegian continental shelf,” said Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK. Norway’s Barents Sea ambitions fading as more projects disappoint Norway’s vision of establishing a new major oil province off its northern tip has suffered another blow. Equinor to extend Statfjord field life with 100 new wells Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040. Equinor targets near-zero emissions in Norway by 2050 In 2050, Equinor expects Norwegian oil and gas production to be less than half of current levels, assuming development of defined projects and substantial efforts to increase production from existing fields and continued exploration. DNV GL wins framework agreement with DNO for Norwegian Continental Shelf operations The agreement will be managed from DNV GL’s office in Stavanger, Norway and supported with a global network of 2,000 technical experts, with global services ranging from verification and environmental to due diligence studies. Norway’s financial regulator says ‘green’ investing has a dark side Morten Baltzersen, the head of the Financial Supervisory Authority in Norway, says the rush to plow funds into investments that fulfill environmental, social and governance (ESG) standards has opened the door to a new risk. Norway’s oil lobby raises spending forecasts for 2020 and beyond Norway’s oil lobby raised the investment forecast for the country’s offshore industry for the coming years, even if it still sees a sharp drop in 2021 amid a lack of big new projects. Stauper Offshore earns produced water technology qualification from Equinor Equinor performed rigorous testing of the Stauper technology at the Grane Field in the North Sea, and the results showed that up to 99.5% of oil was removed from the produced water.