Equinor second quarter 2022 Results
Equinor delivered adjusted earnings* of USD 17.6 billion and USD 5.00 billion after tax in the second quarter of 2022. Net operating income was USD 17.7 billion and the net income was reported at USD 6.76 billion.
Strategic and industrial developments:
Further optimisation of the oil and gas portfolio
Assets in Russia exited
Continued progress in building new value chains in low carbon with investments in battery storage and power
Progressing a strong portfolio of projects in execution
Operational performance:
Continued high production performance
High gas production from E&P Norway to support European energy security
Safe startup of Hammerfest LNG
Financial performance:
Continuing to generate strong earnings and cash flow from operations, partially offset by increased costs
Balance sheet further strengthened with net debt ratio* reduced to negative 38.6%
Significant step-up in capital distribution with cash dividend of USD 0.20 per share, increased extraordinary cash dividend to USD 0.50 per share for the second and third quarter, and increased share buy-back programme to up to USD 6.00 billion for 2022, with a third tranche of around USD 1.83 billion
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