Equinor has more than doubled its crude oil volumes supplied to Asia since 2017, with last year seeing a 30 per cent growth year on year despite the coronavirus pandemic, a company official said on Monday.
The company supplied more than 210 million barrels of crude oil delivered to its customers last year, up 30 per cent from the previous year, said Simon James, vice president for Equinor's crude trading and refinery optimization, said in a pre-recorded speech for the annual Platts APPEC 2021 conference.
The volumes were supplied from the United States, Britain, Brazil, West Africa and Russia, and illustrate how important Asia is to the firm, James said.
"Asia as a whole will continue to be the engine that sets global market direction needing oil from the Atlantic basin," he added.
Meanwhile, the company's Johan Sverdrup which started oil production in October 2019 has increased to 535,000 barrels per day (bpd) as of May, this year, James said.
Phase two of the field is expected in the fourth quarter of next year with studies showing full field capacity can rise to about 755,000 barrels of oil equivalent per day, he added.
