Equinor reports $11.5 billion adjusted operating income and 3% production growth, driven by Norwegian fields and new projects.
Equinor ASA posted a 3% year-over-year increase in second-quarter production, reaching 2.165 million barrels of oil equivalent per day. Adjusted operating income before tax rose to $11.5 billion, while IFRS net income totaled $4.8 billion. Adjusted earnings per share were $1.33, and cash flow from operations after tax hit $13.7 billion year to date.
Production growth was led by a 4% rise on the Norwegian continental shelf, supported by new fields like Johan Castberg, Halten East, and Verdande. Johan Sverdrup’s annual decline is now expected at the low end of its 10% to 20% range. Turnarounds and a temporary outage at Johan Castberg impacted output.
The company emphasized cost and capital discipline amid geopolitical uncertainty, reaffirming its long-term growth targets through 2030.