• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Equinor spent nearly $18 billion on suppliers in 2020

5 years ago
in Energy, highlights, Home, home-news, latest News
1 min read
0 0
0
68
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

In 2020, Norwegian oil and gas giant Equinor purchased goods and services worth NOK 150.8 billion (about $17.8 billion) from around 8500 suppliers globally.

About NOK 112 billion ($13.2 billion), i.e. 74 per cent of total purchases, went to suppliers with a Norwegian billing address, Equinor said on Monday.

Arne Sigve Nylund, Equinor’s executive vice president for Technology, Projects and Drilling, said: “During the last years we have seen steady growth in the Norwegian content of our total procurements. The trend continued also in 2020, which was a difficult year for the industry. This is an acknowledgement of the competence and innovation skills of the Norwegian suppliers who win contracts in the tough international competition”.

Equinor
Source: Equinor

The Norwegian content of Equinor’s total procurements has developed from 61 per cent in 2017 to 74 per cent in 2020.

Peggy Krantz-Underland, Equinor’s chief procurement officer, said: “Our focus in 2020 has been to minimize the consequences of the pandemic and economic recession for our suppliers. We did our best to progress the projects to create spin-offs and help sustain jobs in the supply industry. The temporary tax incentives introduced by the Norwegian authorities helped to maintain high project activity”.

Equinor has twenty projects in the implementation phase with total estimated investments of about NOK 245 billion ($28.8 billion). Most of these projects are in Norway.

Another focus area in 2020 has been to explore new ways of working with suppliers to respond to the demanding situation in the industry.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

“We acknowledged that the supply industry had not fully recovered from the previous crisis and did not initiate re-negotiations across the entire contract portfolio. Instead, we worked together with the suppliers to further improve our joint competitiveness”, said Krantz-Underland.

Source: offshore-energy.biz
Via: norvanreports
Tags: 8500 suppliers globallyNorwegian oil and gas giant Equinorpurchased goods and services worth $17.8 billionsuppliers
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.