Equinor said on Thursday it had signed framework agreements worth 100 billion Norwegian crowns ($9.93 billion) with a group of suppliers for maintenance and modifications of its offshore and onshore i... ...

Core Insights - Equinor ASA has initiated a civil lawsuit against the U.S. Department of the Interior to challenge an order halting the construction of its Empire Wind offshore wind project [2][10] - The Empire Wind project is over 60% complete, and Equinor is seeking a preliminary injunction to allow construction to continue during the litigation process [4][10] - The suspension of the project is a significant setback for offshore wind developers in the U.S., attributed to national security concerns by the Department of the Interior [3][5] Company Specifics - The Empire Wind project represents a substantial investment in U.S. energy infrastructure, developed in collaboration with the New York State Energy Research and Development Authority (NYSERDA) [5][10] - Equinor emphasizes that pausing the project at its current stage could lead to material financial impacts and disrupt the project timeline [4][5] Industry Context - The recent suspension of offshore wind projects under the Trump administration has created challenges for developers, leading to potential delays and cost overruns that could adversely affect project returns [3][5] - The offshore wind industry is facing mounting pressures due to regulatory changes and national security concerns, impacting the viability of large-scale projects [3][5]

Core Viewpoint - Equinor has no plans to return to Venezuela, a country it exited in the early part of this decade, as stated by the company's CEO [1] Company Summary - Equinor is a Norwegian oil and gas company that previously operated in Venezuela but has decided against re-entering the market [1]

Market Overview - U.S. stock futures showed positive movement, with Nasdaq 100 futures increasing by over 150 points on Monday [1] Company-Specific Movements - mF International Limited (NASDAQ:MFI) experienced a significant decline, falling 4.6% to $17.61 in pre-market trading after filing for a mixed shelf [1] - SBC Medical Group Holdings Inc (NASDAQ:SBC) dropped 18.9% to $3.51 in pre-market trading [2] - Aimei Health Technology Co Ltd (NASDAQ:AFJK) decreased by 7.7% to $70.00 in pre-market trading [2] - Theravance Biopharma Inc (NASDAQ:TBPH) fell 6% to $17.07 in pre-market trading, following a 3% decline on Friday [2] - Comcast Corp (NASDAQ:CMCSA) tumbled 4.6% to $28.18 in pre-market trading [2] - Equinor ASA (NYSE:EQNR) decreased by 3.6% to $23.66 in pre-market trading after a 4% gain on Friday [2] - Canadian Natural Resources Ltd (NYSE:CNQ) fell 3.4% to $33.15 in pre-market trading [2] - Xpeng Inc – ADR (NYSE:XPEV) slipped 3.3% to $19.75 in pre-market trading [2] - Two Harbors Investment Corp (NYSE:TWO) declined 3.2% to $10.24 in pre-market trading [2] - NetEase Inc (NASDAQ:NTES) fell 2.9% to $143.29 in pre-market trading, following the announcement of Yingfeng Ding's retirement from his position as executive vice president and head of the Interactive Entertainment Group [2]

Core Viewpoint - Norwegian energy group Equinor has filed a civil suit in the U.S. District Court for the District of Columbia to challenge a U.S. Department of the Interior order that suspends its operations related to the Empirical project [1] Group 1 - The lawsuit aims to contest the legality of the suspension order issued by the U.S. Department of the Interior [1] - Equinor's action reflects its commitment to continue its operations and investments in the U.S. energy sector despite regulatory challenges [1]

Core Insights - Europe's natural gas inventories are currently about 10% below the five-year average for the entire year [1] Group 1: Industry Overview - The trend of natural gas inventories in Europe has been consistently below the five-year average throughout the year [1]

Norway has drilled around 45 exploratory wells in the North Sea this year - Nerijus Adomaitis/Reuters Norway has announced a string of North Sea oil and gas discoveries close to UK waters. British operators Harbour Energy and Aker BP have both made recent finds in the Norwegian North Sea close to the border with UK waters. It suggests that the region still has a wealth of potential even as Labour shuts down activity. Norway’s Okea has discovered more oil in a field slightly closer to Norway. Meanwhile, ...

Core Insights - Equinor, along with its partners, has discovered oil, condensate, and gas in the Tyrihans Øst prospect located in the Norwegian Sea, approximately 250km southwest of Brønnøysund [1] - The exploration well 6407/1-B-2 H reached a measured depth of 4,590m and encountered significant hydrocarbon columns in two geological formations [2] Discovery Details - The well found around 6m of condensate and light oil in the Garn Formation, and a 63m gas and condensate column in the Ile Formation, with varying reservoir characteristics [2] - Preliminary estimates suggest the discovery contains between 0.2 and 1.3 million standard cubic metres of recoverable oil equivalent, translating to one to eight million barrels [3] Future Plans - Equinor and its partners plan to evaluate the discovery for potential production, aiming to route production from Tyrihans to the Kristin installation [4] - The company will assess the commercial viability and development options for the Tyrihans Øst discovery within existing infrastructure and future field developments [4]

Core Points - Equinor has extended its agreement with Subsea7 for subsea inspection, maintenance, and repair (IMR) services for the Seven Viking vessel, which supports operations at oil and gas wells across the Norwegian Continental Shelf [1][2] - The contract extension allows the Seven Viking vessel to operate in the region until the end of 2027, with a value between $50 million and $150 million [2] - Equinor has finalized a contract with Odfjell Drilling for the use of the Deepsea Aberdeen rig, covering drilling operations on the Norwegian Continental Shelf [3][4] - The Odfjell contract is expected to add approximately $373 million to the company's firm order backlog, excluding additional services and bonuses [5] - Equinor has also extended its contract with DeepOcean for subsea IMR services, maintaining support through 2026 and into 2027 [6]

Core Insights - Equinor ASA has awarded a contract to Odfjell Drilling for the Deepsea Aberdeen drillship to operate on the Norwegian Continental Shelf [2][10] - The contract is expected to add approximately $373 million to Odfjell Drilling's firm order backlog, enhancing revenue visibility for the company [4][10] - The drilling work is anticipated to commence in the fourth quarter of 2026 and continue through the first quarter of 2029 [3][10] Company and Industry Summary - Odfjell Drilling's contract with Equinor follows a letter of intent signed in November, indicating a strong partnership between the two companies [3][10] - The Deepsea Aberdeen rig is designed for harsh weather conditions, featuring an enhanced GVA7500 design and capable of operating in water depths of 3,000 meters [5][10] - Odfjell Drilling currently has three rigs from its fleet working with Equinor, showcasing its ongoing collaboration in the energy sector [5]