Equinor signs deal with Chevron for 17.4% stake in Namibia licence

0 min read | Published on 18 Aug 2026, 08:56 PM |Updated on 18 Aug 2026, 08:56 PM

Reviewed by

Suketu GScanX News Team

Key Highlights

Equinor secures 17.4% stake in Namibia's Petroleum Exploration Licence 90 from Chevron's Harmattan Energy. Financial terms of the deal are not disclosed.

*this image is generated using AI for illustrative purposes only.

Equinor has entered into a deal with Chevron’s Harmattan Energy subsidiary to acquire a 17.4% stake in Petroleum Exploration Licence 90, located offshore Namibia.

The agreement marks a strategic expansion into the Namibian basin, though specific financial details were not disclosed in the announcement.

Deal Details

Buyer: Equinor
Seller: Harmattan Energy (Chevron subsidiary)
Asset: Petroleum Exploration Licence 90
Location: Offshore Namibia
Stake Acquired: 17.4%
Financial Terms: Undisclosed

How might Equinor's entry into the Namibian basin influence Chevron's long-term strategic focus and capital allocation in the region?

What are the projected timelines for potential resource discoveries in Licence 90, and how could this impact Equinor's production growth targets?

Could this acquisition signal a broader trend of European energy majors increasing their footprint in African offshore exploration assets?

Equinor to acquire 87.71% stake in US power plant for $940M

0 min read | Published on 18 Aug 2026, 12:28 AM |Updated on 18 Aug 2026, 12:28 AM

Reviewed by

Anirudha BScanX News Team

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Key Highlights

Equinor strengthens its US power market presence by agreeing to buy an 87.71% stake in Pennsylvania's 1,483 MW Lackawanna gas-fired plant for $940 million.

*this image is generated using AI for illustrative purposes only.

Equinor has agreed to acquire an 87.71% stake in the 1,483 MW Lackawanna gas-fired power plant in Pennsylvania for $940 million. The deal marks a significant expansion of the energy company's footprint in the United States, specifically targeting its growing presence in the domestic power sector.

Deal Structure

The acquisition involves purchasing a controlling interest in the Lackawanna facility, which is located in Pennsylvania. The plant operates as a gas-fired power station with a capacity of 1,483 MW.

Metric:	Details
Asset:	Lackawanna Gas-Fired Power Plant
Location:	Pennsylvania, USA
Capacity:	1,483 MW
Stake Acquired:	87.71%
Deal Value:	$940 million

Strategic Context

The move is part of Equinor's broader strategy to strengthen its position in the US power market. By securing a majority stake in a substantial gas-fired asset, the company aims to enhance its generation capabilities and market share in North America.

How will Equinor balance this significant investment in natural gas infrastructure with its long-term renewable energy transition goals?

What impact might this acquisition have on regional electricity prices and supply stability in the Pennsylvania market?

Are there potential regulatory or environmental hurdles Equinor could face when integrating the Lackawanna plant into its US portfolio?