Equinor second quarter 2026 results

Equinor (OSE:EQNR, NYSE:EQNR) delivered an adjusted operating income* of USD 11.48 billion in the second quarter of 2026.

Equinor reported a net operating income of USD 12.99 billion and a net income of USD 4.84 billion.

Adjusted net income* was USD 3.22 billion, leading to adjusted earnings per share* of USD 1.33.

Delivering on strategy: more energy, growing cash flow and superior returns

Contracts awarded for first wave of NCS tie-back projects

Strategic transactions on the NCS to harmonise ownership and progress Ringvei Vest FID taken for Greater PAJ in Angola

Strong production, cash flow and financial results

Production growth of 3%

High value creation from asset-backed trading

Cash flow from operations after taxes paid* of USD 7.7 billion

Capital distribution

Second quarter cash dividend of USD 0.39 per share

Third tranche of the share buy-back of up to USD 1,125 million

Expected share buy-back of USD 3 billion for 2026

Anders Opedal, President and CEO of Equinor ASA: “Strong production in the second quarter enabled us to capture value from higher prices, contributing to strong cash flow and financial results.”

More energy through strong production

Equinor delivered high production in the second quarter with a total equity production of 2,165 mboe per day in the second quarter.

This is a 3% increase compared to 2,096 mboe per day in the same quarter last year.

Production from new fields, including Eirin and Symra coming on stream, drove a 4% production increase on the Norwegian continental shelf (NCS) compared to the second quarter of 2025.

Johan Sverdrup and new wells supported the production, while planned turnaround activity and natural decline partially offset the result.

The addition of production from Adura in the UK and the Bacalhau field in Brazil, as well as lower turnaround activity, contributed to a 4% production increase in the international oil and gas reporting segment compared to the same period last year.

This was partially offset by portfolio changes, in addition to natural decline and operational issues at Roncador in Brazil.

The production in the US was stable in the quarter compared to the same quarter last year.

Total power generation was 1.19 TWh.

Driven by Dogger Bank B and new onshore assets, renewable power generation increased by 11% compared to the second quarter of 2025.

The increase in total power generation was partially offset by lower gas-to-power generation.

Growing cash flow with strong financial results

Equinor delivered an adjusted operating income* of USD 11.48 billion and USD 3.44 billion after tax* in the second quarter.

The results are primarily impacted by higher liquid prices globally and European gas prices, partially offset by lower US gas prices.

The reported net operating income of USD 12.99 billion is up from USD 5.72 billion in the same quarter last year.

Results were supported by higher prices, positive derivative effects and the sale of assets in Argentina.

Equinor realised a European gas price of USD 15.8 per mmbtu and a liquids price of USD 97.9 per bbl in the second quarter.

The Marketing, Midstream and Processing results were strong, primarily driven by strong crude trading and refining performance.

Adjusted operating and administrative expenses* were higher compared to the same quarter last year.

This was mainly due to higher transportation costs from increased freight rates and currency effects.

High produ...