0.23 percent of Equinor’s production is renewable

Weather: Although the renewable percentage is low, it has almost tripled since 2018, when the company changed its name from Statoil to Equinor.

Oil expert Arne Ingar Svendby has calculated how much the group contributes from renewable energy. He has extracted figures from press releases and done a simple calculation, writes newspaper.

While energy from oil and gas is stated in oil equivalents, renewable energy is stated in terawatt hours. In order to be able to compare the two sizes, Svendby has converted oil equivalents into terawatt hours, using a model from the Norwegian Petroleum Directorate.

He found that Equinor’s recent quarterly report shows a production of 336 terawatt-hours of energy from oil and gas, and only 0.774 terawatt-hours from renewable energy. This brings the renewable percentage to 0.23 for the first quarter.

– This is a tragic and ridiculously low renewable percentage. It shows that Equinor is just as oil black as Statoil was, believes Greenpeace leader Frode Pleym.

Press spokesman Magnus Frantzen Eidsvold for renewable energy in Equinor writes to the newspaper that they too are impatient in the face of the climate challenge.

– Renewable energy production is still low, but at the same time it has increased by 35 per cent from the first quarter of last year to the first quarter of this year, Eidsvold points out.

He says that Equinor looks to be able to get a 50 percent increase in renewable energy this year compared to the previous year. This means that the group could end up with a renewable share of 0.23 per cent for the whole of 2024.

(© NTB)