Equinor Profits Triple as Oil and Gas Prices Surge
The Norwegian energy major said refining and trading gains lifted MMP earnings above guidance, while gas prices jumped 75% from a year earlier.
- On Wednesday, the Norwegian energy major Equinor reported an adjusted net income of $2.86 billion for the third quarter, tripling the $932 million income from the same period last year.
- Strong operational performance drove results, with oil and gas production rising 2% year-over-year to 2.166 million barrels of oil equivalent per day, supported by high refining margins and LNG trading proceeds.
- Adjusted operating income reached $12.4 billion, while the Board approved a $0.39 per share quarterly dividend and a $1.13 billion buyback tranche, bringing total 2026 buybacks to $3 billion.
- CEO Anders Opedal increased 2026 production growth guidance to around 4% from 3% following efficient operations, as Equinor expects to pay $9.3 billion in Norwegian tax installments during the fourth quarter.
- Equinor is expanding its global portfolio, with CFO Torgrim Reitan noting recent discoveries in Angola alongside new acreage awards in Brazil and Namibia as part of long-term exploration strategy.
22 Articles
22 Articles
Equinor's profits in the third quarter doubled, driven by high oil and gas prices, as well as by a leap in refining margins — a reflection of global conflicts that left energy markets in turmoil. Exclusive material for subscribers. To have full access, access the link of the material and register it.
Equinor Profits Triple as Oil and Gas Prices Surge
Equinor tripled its adjusted net income for the third quarter from a year earlier, on the back of strong refining margins, high oil and natural gas prices, and increased hydrocarbon production. The Norwegian energy major on Wednesday reported an adjusted net income of $2.86 billion for the third quarter, tripled from the $932 million income for the same period last year. Equinor’s oil and gas production rose by 2% year-over-year to 2.166 milli…
The Norwegian Equinor Group has produced $12.35 billion in adjusted operating income in the third quarter of 2026, driven by the rise in oil and gas prices. Its new production forecasts shed light on Norway's role in European energy supply. The article Gas and oil: the adjusted operating income of Equinor doubles in the third quarter appeared first on L'EnerGeek.
Key takeaways Driven by a combination of higher hydrocarbon costs, strong refining margins, and an increase in production, Equinor saw a spectacular increase in adjusted net profit in the third quarter. The Norwegian energy giant posted a profit of 2.6 billion euros, more than three times the 837 million euros recorded in the same period […]
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