Equinor reported adjusted operating income of $9.77 billion in the first quarter of 2026. Adjusted net income was $3.7 billion, equivalent to $1.48 per share, while net income reached $3.1 billion.
Furthermore, the Norwegian company increased its total production by 9% year-on-year up to a record of 2.313 million barrels of oil equivalent per day. This growth was supported by new contributions from Johan Castberg, Halten East and Verdande, along with the progress of its operations in gas in the United States.
Gas and oil strengthen Equinor’s business
Meanwhile, higher liquids prices and stronger US natural gas prices offset weaker European gas prices during the quarter. Equinor secured a European gas price of $12.9 per mmBtu and liquid prices $78.6 per barrel.
Likewise, the division of marketing, midstream y processing achieved solid results, supported by market volatility and strong trading activity in energy products and gas in the United States.
Norway gains importance in European energy security
CEO Anders Opedal pointed out that the geopolitical instability and disruptions in energy flows continue to generate volatility in the markets. Therefore, the company’s production on the Norwegian continental shelf maintains a central role in European energy supply.
In addition, the company announced seven commercial discoveries during the quarter and drilled 11 offshore wells, reinforcing its strategy to sustain production levels until 2035.
Brazil consolidates its position in the international strategy
Meanwhile, the company made progress in Brazil with the start of drilling in the gas field Citizen and with new contributions from the field Cod. It also expanded its renewable energy presence through the acquisition of the onshore wind project Corner of the Wind, whose construction is planned for the end of the year.
Dividends and share buybacks strengthen shareholder returns
Finally, Equinor maintained its focus on capital distribution. The board approved a quarterly dividend of $0.39 per share and authorized a second tranche of share buybacks of up to $375 million. The company anticipates total buybacks of up to $1.5 billion in 2026.
Source: Equinor