Equinor admits major US failure: "This is tough reading"

Norwegian oil company Equinor should have been quicker in realizing it had lost control with its US shale venture. Moreover, overly optimistic investments led to massive losses, shows a new report commissioned by Equinor.

Muchshould have een done differently, Equinor CEO Eldar Sætre (left) concedes following a new report on the oil company's US onshore fossil fuel venture. Photo shows Sætre alongside Andres Opedal, who is set to take over as group CEO from next month. Photo: Gwladys Fouche/Reuters/Ritzau Scanpix

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