Equinor SWOT and PESTLE Analysis

Strength

1. Industry-leading position within carbon efficient operations: Equinor strengthens its position as one of the industry leaders with respect to having carbon efficient operations and simultaneously, experience profitable growth originating from a strong and competitive renewables business. With the focus on creating long-term shareholder value and remaining competitive, the company is quite well positioned for survival in a low-carbon future. Also, it has adopted the strategic principle of shaping its future portfolio by building a low-carbon business in hopes of capturing new avenues during energy transition and also, maintaining its leadership in carbon-efficient oil and gas production. Furthermore, the company has sustainability incorporated into its strategic work and tries to lower its carbon footprint for remaining competitive in the future.

2. Well-positioned as a global offshore wind major: The year 2019 proved as a pivotal year for Equinor, particularly in establishing the company’s offshore wind portfolio. Equinor has strengthened its path guiding towards becoming a global offshore wind major, by combining with UK’s Dogger Bank and the US’s Empire Wind. With an installed capacity of 3.6GW and a total potential of more than 20GW, Dogger Bank can easily be considered as the largest offshore wind farm development of the world, having the potential to supply nearly one third of UK electricity demand. Similarly, Empire Wind also has a robust position, owing to its provisions of renewable electricity to the city of New York, one of the busiest cities of the world. It delivers power equivalent to almost one million homes with a capacity of 816MW. With its own decade-long operating experience in floating offshore wind, Equinor plans to fulfil the floating solution requirements which account for 80% of the world’s offshore wind potential. By leveraging its position to industrialise floating wind, Equinor plans to commercialize floating wind by 2030.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Political

This section is available only in the 'Complete Report' on purchase.

Economic

This section is available only in the 'Complete Report' on purchase.

Social

This section is available only in the 'Complete Report' on purchase.

Technological

1. Digitalization to catalyse the development of solutions and methods and drive operational excellence: Across industries, technology has penetrated the entire value chain to improve the efficiency throughout. Recently, Equinor and Shell entered into a MoU to collaborate digitally in order to come up with different solutions with the help of advanced technology like AI and 3D printing. The motive of this collaboration is to entail co-innovation across the value chain and having been collaborating closely under the OSDU initiative, both the companies have gained synergistic benefits because of their cloud-based solutions that lends an agile foundation to the companies. Due to increased asset uptime in the integrated operations centre as well as the Johan Sverdrup start-up, the digital solutions are being implemented at rapid speed and have already delivered over 400 million USD in 2019.

2. Encouraging open innovation to gain radical ideas and solutions: Digital innovation in the energy industry is largely catalysed by open innovation. Various companies are collaborating and obtaining synergic benefits to deliver competitive technology. In order to drive open innovation through challenges, Equinor ASA has dedicated a channel named Equinor Innovate, where the company connects with different companies and institutions to find the solutions to different business problems. By doing so, Equinor intends to expand on three focus areas of being competitive, transforming the oil and gas industry and progressing towards providing energy for a low carbon future. The challenges which are provided to the participating institutions are linked to a real-time Equinor project organisation which works parallel to the challenge campaign.

Legal

This section is available only in the 'Complete Report' on purchase.

Environmental

This section is available only in the 'Complete Report' on purchase.