Equinor soars in Oslo with solid accounts and record oil production in 2025

(Il Sole 24 Ore Radiocor) - Equinor soared on the Oslo Stock Exchange after announcing strong accounts for 2025, including record oil and gas production, and outlining an operational reorganisation. In a market that was already well disposed towards the oil sector due to the war in the Middle East, the Norwegian group's share price increased more than 62% since the beginning of the year.

Equinor, which points out that it is the largest single supplier of oil and gas in Europe, posted an adjusted operating profit of $27.6 billion last year, up from $29.8 billion a year earlier, due to lower commodity prices offsetting record production, the company said. Adjusted net profit came to $6.4 billion from $9.1 billion. Revenues amounted to $106.5 billion from $103.7 billion. The Norwegian Continental Shelf business contributed $23.8bn to the company's adjusted operating profit, while the international and US exploration units contributed $1.57bn and $1.09bn respectively, both down from 2024. Net operating profit fell to $25.4bn from $30.9bn in 2024. The group reported actual liquids and gas production of 2,137 mboe per day in 2025, up 3.4 per cent year-on-year. Actual renewable energy production also increased to 3.67 TWh in 2025, up 25 per cent from 2024. After-tax operating cash flow reached USD 18 billion. Return on average capital employed stood at 14.5%, with organic investments of USD 13.1 billion.

As announced in February, the company distributed $9 billion to shareholders, including coupons and a $5 billion buyback. "In 2025, we posted a solid operating performance, record production and outstanding financial results. In a year of increasing geopolitical tensions and market volatility, we have demonstrated our ability to deliver energy safely and reliably and create long-term value for our shareholders," commented CEO Anders Opedal. "Global demand for energy continues to increase. As the largest oil and gas supplier in Europe, with growing production in international markets, Equinor is well positioned to contribute to energy security and long-term value creation," the Ceo added, pointing out that "solid operational performance and new fields such as Johan Castberg and the Halten East connection have contributed to record production and competitive returns in 2025."

The financial results of 2025,' Equinor further emphasises, 'also resulted in an important contribution to society through taxes. In 2025, the group paid $20.5 billion in income tax, of which $19.7 billion was paid in Norway, where Equinor holds most of its assets and profits. The Norwegian group also announced the creation of two new business units, resulting from the demerger of the marketing, midstream and processing division, in order to optimise its activities and increase its value. The first unit will manage the midstream, processing and infrastructure segment, including refineries, pipelines and storage facilities, while the second will focus on trading and market activities. The company also stated that a project is underway to further refine the operating model and organisational structure, with the aim of having them operational by early 2027. Goldman Sachs analysts maintained their recommendation to sell the stock, but raised the price target from 260 to 270 kroner.