Equinor third quarter 2022 Results

Equinor delivered adjusted earnings* of USD 24.3 billion and USD 6.72 billion after tax in the third quarter of 2022. Net operating income was USD 26.1 billion and the net income was reported at USD 9.37 billion.

Strategic and industrial developments:

  • The Brazilian oil field Peregrino was brought back in production and Peregrino phase 2 on stream
  • Low carbon value chains continue to develop with first commercial agreement on CO2 storage for the Northern Lights JV
  • Project portfolio in execution is maintaining stable cost level

Operational performance:

  • Continued high production, gas to Europe up 11%
  • Strong results from marketing and trading gas and power

Financial performance:

  • Continuing to generate strong earnings mainly from increased gas prices
  • Strong free cash flow year to date of USD 21.7 billion
  • Additional payment of tax of around USD 10 billion and a net debt to capital employed ratio adjusted* of negative 19.1%
  • Cash dividend of USD 0.20 and increased extraordinary cash dividend to USD 0.70 per share for third quarter of 2022 and a fourth share buy-back tranche of USD 1.83 billion

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