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Equinor Explores Higher-Cost Production With European Buyers

Norway's largest energy company is engaging in discussions with major European customers regarding potential investment in higher-cost oil and gas extraction projects. The talks come as energy price volatility continues to reshape supply strategies across the continent. US wholesale inflation climbed to its fastest pace since 2022 in April, driven partly by elevated energy costs. The producer price index rose 6% year-over-year. Meanwhile, trade tensions between the US and EU persist, with negotiations stalling on a comprehensive trade agreement amid threats of additional tariffs. Germany has renewed calls for a European windfall tax on energy producers to offset costs for households and businesses. These discussions highlight mounting pressure on energy companies to balance production investments with political demands for price relief.