Equinor Replaces Upstream Head
Equinor's executive vice president for exploration Tim Dodson is to become vice president for strategy execution in Global Strategy and Business Development, with effect from June 1. Tore Loseth has been appointed acting executive vice president of exploration and will join the corporate executive committee (CEC) in this capacity, the Norwegian company said April 22.
The company has slashed its organic capital expenditure budget for 2020 to around $8.5bn, from $10-11bn, it announced on March 25. It is also halting onshore US drilling and completions and it has walked away from its partnership with Valeura Energy.
“I take this opportunity to thank Tim for his long-standing contribution to corporate leadership and the Executive Committee of Equinor. I’m glad we can continue to capitalise on Tim’s deep experience and broad understanding of Equinor in his new role in the GSB strategy team and I wish him all the best,” said CEO Eldar Saetre.
“At the same time, I welcome Tore to the CEC. He brings strong leadership and international experience to the team, and I look forward to working with Tore in his new role,” Saetre said.
