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Equinor presents 2024 Annual report

The strong financial results of 2024 also led to strong contributions to society through taxes. In 2024, Equinor paid USD 20.6 billion in corporate income taxes of which USD 19.7 billion was paid in Norway, where Equinor has the largest share of its operations and earnings.

Gas to Europe from Halten East

“We are starting up Halten East at a time where piped gas from Norway is in high demand and important for energy security. In a challenging cost and inflation environment, the project has been delivered both on time and within our cost estimate,” says Geir Tungesvik, executive vice president for projects, drilling, and procurement in Equinor. The estimated pay-back time for the project is one year.

Gas discovery in the Norwegian Sea

The licensees’ assessment is that this is a commercial discovery, and they will consider tie-back to existing infrastructure or development together with other discoveries in the area.

Announcement of cash dividend per share in NOK for third quarter 2024

The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 14 February 2025, in total seven business days.

Notifiable trading

This information is subject to disclosure obligations pursuant to the EU Market Regulation, cf. section 3-1 in the Norwegian Securities Trading Act, and section 5-12 of the Norwegian Securities Trading Act.

Equinor appeals fine for violation of market regulations in France

Equinor will appeal the case to Conseil d’État, the highest court in France for handling cases involving public administration.

Ex. dividend third quarter 2024

Buy-back of shares to share programmes for employees

Shares will be purchased on the Oslo Stock Exchange. The share buy-back programme is conducted in accordance with applicable safe harbour conditions, and as further set out in the Norwegian Securities Trading Act of 2007, EU Commission Regulation (EC) No 2016/1052 and the Oslo Stock Exchange's Guidelines for buy-back programmes and price stabilisation February 2021.

Equinor fourth quarter and full year 2024 results

Equinor to commence first tranche of the 2025 share buy-back programme

An agreement between Equinor and the Norwegian State regulates the State's participation in the share buy-back: at the annual general meeting of the company in May 2025, the State will, as per proposal by the board of directors, vote for the cancellation of shares purchased in the market pursuant to the board authorisation, and the redemption and cancellation of a proportionate number of its shares in order to maintain its ownership share in the company at 67%. The price to be paid to the State for redemption of the State's shares shall be the volume-weighted average of the price paid by Equinor for shares purchased in the market plus an interest rate compensation, adjusted for any dividends paid.

Key information relating to proposed cash dividend for fourth quarter 2024

Lufttransport RW AS selected as operator for new helicopters

“The safety of our employees who travel by helicopter is our utmost priority. New helicopters will make helicopter traffic more robust. Safe, predictable and efficient transportation is crucial to safely maintain a high activity level on the NCS for many years to come,” says Ørjan Kvelvane, Equinor’s senior vice president Operation and Maintenance in Exploration & Production Norway (EPN).

Equinor’s 2024 safety results

In 2024, we saw an increased use of the learning material within the “Always safe” initiative. Around 3800 teams completed the final learning package of the year, which focused on health and working environment. This corresponds to over 40,000 people, both employees and suppliers.

Arkansas Lithium project finalized USD 225 million award

“The U.S. Department of Energy’s support demonstrates the project’s maturity and strengthens its financial robustness as we work towards a final investment decision. We look forward to working with Standard Lithium and alongside the local community to enhance the US lithium supply chain by deploying innovative technology,” says Hege Skryseth,executive vice president for Technology, Digital & Innovation in Equinor.

Equinor awarded 27 new production licences on the Norwegian continental shelf

Equinor operates 35 offshore platforms that together make up an extensive network of amortised production, processing and export infrastructure. Discoveries in areas with existing infrastructure can be developed rapidly, at lower costs, and with lower greenhouse gas emissions from production and transport.

Invitation to send estimates for fourth quarter financial results

Equinor publishes fourth quarter 2024 financial results on 5 February.

The highest natural gas production ever from a Norwegian field

The gas processing plant at Kollsnes has undergone significant upgrades in recent years. Working closely with the operator Gassco, capacity has been increased from 144.5 million to 156 million standard cubic metres per day. This has been an important contribution to the production record.

Securing financial close for Empire Wind 1

The debt financing of the project has reached financial close. Due to strong interest from lenders, the Empire Wind 1 project was able to secure competitive terms. The final group of lenders includes some of the most experienced lenders in the sector along with many of Equinor’s relationship banks.

Equinor completes the 10 percent stake of Ørsted

The volume weighted average price for the 10 percent stake is DKK 398.5 per share equaling a total consideration of USD 2.3bn based on a USD/DKK exchange rate of 7.15.

New oil and gas discovery near the Troll field in the North Sea

The well was drilled by the Deepsea Atlantic drilling rig.

Certain primary insiders, and their close associates, participating in Equinor’s share savings plan, have on 12 December 2024 been allocated shares.

Equinor and partners approve execution of UK’s first carbon capture and storage projects

Building work for both projects will be completed by nine leading engineering, procurement, and construction contractors with a combined value of around £4billion. The work will bring thousands of jobs and wider socio-economic benefits to the north-east of England.

Approaching start-up for Johan Castberg

The Johan Castberg FPSO (floating production, storage and offloading vessel) was anchored on the field in the Barents Sea in September.

Equinor realises value from exits in international upstream business

“With these exits we realise value and execute on our strategy to focus the international portfolio, and in combination with recent acquisitions and investments in our competitive projects, we seek to sustain long-term production and profitability,” says Philippe Mathieu, executive vice president for international exploration and production in Equinor.

Equinor and Shell to create the UK’s largest independent oil and gas company

In the UK, Equinor currently produces approx. 38,000 barrels of oil equivalent per day; Shell UK produces over 100,000 barrels of oil equivalent per day. The new company is expected to produce over 140,000 barrels of oil equivalent per day in 2025.

Changes in Equinor’s Corporate Executive Committee

“I want to thank Jens for taking on this responsibility at short notice, in a period of record-high activity level within Renewables. He is a very seasoned leader who knows the task, the organization, and the company very well,” says Anders Opedal, President and CEO of Equinor.

Announcement of cash dividend per share in NOK for second quarter 2024

On 29 November 2024, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts ("ADRs") on New York Stock Exchange.

Equinor brings on another rig 

Northern Ocean Wind AS is a company owned by Northern Ocean Ltd. Deepsea Bollsta will be operated by Odfjell Drilling. They currently operate three rigs for Equinor, Deepsea Aberdeen, Deepsea Atlantic and Deepsea Stavanger. Currently, the rig is in Africa and has been drilling in Namibia but has previous track-record for operations in Norway.

Ex. dividend second quarter 2024 today - Oslo Børs

bp, Equinor, Shell and TotalEnergies join forces to help increase access to energy

bp, Equinor, Shell and TotalEnergies decided to join forces to help address the challenges of energy access. With $500 million of committed capital, the joint investment seeks to support promising, high-impact projects, primarily in Sub-Saharan Africa, South and Southeast Asia, aiming to help millions of people in underserved communities gain access to electricity and improved cooking conditions.

Oil and gas discovery in the North Sea

Equinor strengthens its position in the Norwegian Sea

“Halten East is an important project with strong profitability and low emissions, in a core area for Equinor. The transaction is in line with our strategy of optimising our portfolio on the Norwegian continental shelf to ensure long-term value creation,” says Grete Birgitte Haaland, senior vice president for Exploration and Production North.

Equinor report on 2023 tax contributions

“Energy projects, across all segments of oil and gas, renewables and low-carbon value chains, have in common that they are large investments, with long lead times and generally designed to operate for decades. This is why our industry depends on stable and predictable tax and fiscal regimes over time”, states Reitan.

Equinor strengthens gas portfolio

Updated 31 December, 2024: Equinor and EQT Corporation closed the transaction on 31 December 2024 after receiving the necessary approvals.

This is information that Equinor ASA is obliged to make public pursuant to Article 19 of the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Equinor third quarter 2024 results

Total capital distribution for 2024 in line with announced level of around USD 14 billion

Equinor to commence fourth tranche of the share buy-back programme for 2024

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations,
+47 918 01 791

Key information relating to cash dividend for third quarter 2024

Other information: The cash dividend per share in NOK will be communicated 20 February 2025.

Smoke development on the Sleipner B platform

Facts: Sleipner B is an unmanned wellhead platform in the Sleipner area.

The Sleipner area consists of the following installations:
– Sleipner A: Processing, drilling and living quarter platform
– Sleipner R: Riser platform for gas export and condensate export
– Sleipner T: Processing and CO2 removal platform
– Sleipner B: Unmanned production platform (wellhead)

Sleipner B is periodically operated by operations and maintenance personnel transferred from Sleipner A in helicopter.

Sleipner T and Sleipner R are connected to the Sleipner A platform by a permanent bridge.

Sleipner R is a gas hub for gas from Kollsnes and from Nyhamna for further transport to Draupner, Zeebrugge and Easington.

Equinor’s third quarter 2024 safety results

Equinor is continuing its work to prevent major accidents through extra efforts within management training and e-learning courses that are also available to the company's suppliers.

Equinor acquires a 9.8% minority stake in Ørsted

Equinor is supportive of Ørsted’s strategy and management, and is not seeking board representation.

Equinor reports on Norwegian development projects

The cost increase over the past year is 1.2 billion 2024-NOK. Since the PDO, the cost increase is about NOK 2.5 billion in 2024-NOK. Since the PDO, estimated costs have grown by around 2.5 billion 2024-NOK. This is a result of longer delivery times for new transformers that were destroyed in a fire at Hitachi’s factory in Vaasa in 2023, as well as delays related to increased complexity. Planned commissioning has been postponed from 2026 to late 2027.

Invitation to send estimates for third quarter financial results

Every quarter ahead of the earnings announcement, Equinor collects earnings and production estimates from the equity analysts covering the company. These numbers become a proxy for what the market expects in terms of Equinor’s results and are published as “consensus” a week prior to the actual release.

Northern Lights ready to receive CO₂

Northern Lights: Northern Lights JV is a registered, incorporated General Partnership with Shared Liability (DA), equally owned by Equinor, TotalEnergies and Shell.

The Northern Lights facility consists of a receiving terminal, injection pipeline and subsea installations.

Equinor has been in charge of building the onshore plant in Øygarden as well as the offshore facilities on behalf of Northern Lights JV and partners. The budget of this scope is 7.5 billion NOK. This does not include the ships or the CO2 capture plants.

The first phase of this development of the value chain is 80 per cent funded by the Norwegian state as part of the Longship project.

Longship is a comprehensive CCS project initiated by the Norwegian government, aiming to demonstrate CO2 capture, transport, and storage at scale.

Northern Lights, a key part of this initiative, focuses specifically on the transport and storage elements.

Captured and liquefied CO2 at the customers sites is transported by ship to the onshore receiving terminal at Øygarden.

From the terminal, CO2 is transported by pipeline for storage in a reservoir 2.600 meters under the seabed in the North Sea.

The Northern Lights project created ripple effects in 2023 of 1.7 bn NOK in deliveries, over 900 man-years and 1.3 bn NOK in value creation.

Johan Castberg anchored on the field

The Norwegian supply industry has accounted for more than 70 percent of the total deliveries to the Johan Castberg project. In the operating phase, 95 percent of deliveries are expected to come from Norwegian suppliers. The North Norwegian content is estimated at about 40 percent, and every third Johan Castberg employee lives in Northern Norway.

Reducing emissions from the Troll field

 emissions by the equivalent of those from 125,000 fossil-fuelled cars,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Key information relating to full redemption of bond loan

This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act.

Increased ripple effects from Equinor in Norway

"We have operations along the entire coast of Norway that have major ripple effects. The Norwegian supplier industry has developed its expertise and competitiveness together with us for over 50 years. A total of 81,500 man-years worked in connection with assignments from Equinor last year. The level of activity and value creation is high. We have plans to further develop our operations in Norway so that this will continue in the future," says Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway (DPN).

Strengthening emergency preparedness in the Barents Sea

Search and Rescue Service (SAR): The SAR service is a key service in area-wide emergency preparedness established to handle defined hazard and accident situations that fall under the Petroleum Act. National authorities may also request assistance from the SAR service in the event of incidents in other activities offshore and along the coast.

The number of SAR missions in 2023 for helicopters operating for Equinor was approximately 400, 40 of which were performed for the Joint Rescue Coordination Centre (JRCC).

SAR machines normally have a crew of five: two pilots, one hoist operator, one rescuer, and one SAR nurse.

Equinor currently has five SAR helicopter bases, including the base in Hammerfest which we share with Vår Energi.

All corporate news

News

Equinor presents 2024 Annual report

Gas to Europe from Halten East

Gas discovery in the Norwegian Sea

Announcement of cash dividend per share in NOK for third quarter 2024

Notifiable trading

Equinor appeals fine for violation of market regulations in France

Ex. dividend third quarter 2024

Notifiable trading

Buy-back of shares to share programmes for employees

Equinor fourth quarter and full year 2024 results

Equinor to commence first tranche of the 2025 share buy-back programme

Key information relating to proposed cash dividend for fourth quarter 2024

Lufttransport RW AS selected as operator for new helicopters

Equinor’s 2024 safety results

Arkansas Lithium project finalized USD 225 million award

Equinor awarded 27 new production licences on the Norwegian continental shelf

Invitation to send estimates for fourth quarter financial results

The highest natural gas production ever from a Norwegian field

Securing financial close for Empire Wind 1

Equinor completes the 10 percent stake of Ørsted