A significant disruption has hit Western Europe's largest oilfield as Equinor halted production at Johan Sverdrup following an onshore power outage. The shutdown was triggered by smoke detection at a transformer station in Haugsneset at Karsto, which supplies power to phase 1 of the development, according to company spokesperson Gisle Ledel Johannessen.
The incident has impacted global oil markets, with Brent crude futures rising 2.98% to $73.06 per barrel, while U.S. West Texas Intermediate crude climbed 2.8% to $68.89. This price surge comes amid existing market tensions related to the Russia-Ukraine conflict.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appJohan Sverdrup, operated by Equinor with a 42.63% stake, is a vital asset shared between several companies including Aker BP (31.57%), state-owned Petoro (17.36%), and TotalEnergies (8.44%). While Johannessen confirmed that the cause of the problem was quickly identified and the company is working to restore operations, no specific timeline for resumption has been provided. The outage affects only Phase 1 of the development, with Phase 2 converter station continuing to operate normally for other North Sea fields in the Utsira High area.
The disruption comes at a particularly sensitive time, as the field was already expected to begin tapering from its peak production levels of 755,000 barrels of oil equivalent per day in early next year. This incident highlights the vulnerability of major energy infrastructure to technical disruptions and their immediate impact on global oil markets.
OIL (D1 Interval)
Oil gains 3%, nearing key resistance at the 23.6% Fibonacci retracement level. RSI shows a gradual bullish divergence, with MACD tightening toward a potential buy signal. Bulls aim to retest the 50-day SMA at $74.04, while bears focus on September lows. Source: xStation

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.