trending Market Intelligence /marketintelligence/en/news-insights/trending/5ym8tqcmu8trjgklmcuhuw2 content esgSubNav
In This List

Equinor sells 27.3% interest in England's Teesside oil terminal


S&P Capital IQ Pro | Powered by Expert Insights


Insight Weekly: Soaring food prices; bankruptcies reach new low; insurtech M&A to accelerate


Essential Energy Insights - November 2021


European Energy Insights October 2021

Equinor sells 27.3% interest in England's Teesside oil terminal

Norway's Equinor ASA, previously Statoil ASA, sold its 27.3% interest in the Teesside oil terminal in England.

"I can confirm Equinor has divested and that this divestment is part of our ongoing portfolio management effort," Elin Isaksen, a spokesperson from Equinor, said in an email.

Isaksen did not disclose who purchased the stake in the terminal or the value of the transaction.

Crude oil and natural gas liquids from operator ConocoPhillips' J-Block and Greater Ekofisk Area fields, as well as volumes from other areas of the North Sea, are delivered to the Teesside terminal.

Total SA holds a 32.9% interest in the terminal, while ConocoPhillips has a 29.3% stake and Italy's Eni SpA owns a 10.3% interest.

Formerly known as Statoil, the company changed its name to Equinor in mid-May amid its transition into a "broad energy company." Equinor plans to invest 15% to 20% of its total capital expenditures in new energy solutions by 2030.