Equinor reported adjusted operating income of $11.48 billion in the second quarter, surpassing consensus projections of $11.37 billion and significantly exceeding the $6.54 billion from the same period in 2025. The Norwegian energy company benefited from geopolitical tensions in the Middle East, with its average realized crude oil price rising to $97.90 per barrel, up from $63 per barrel the previous year. Chief Financial Officer Torgrim Reitan cautioned that the trading desk generated roughly double its typical quarterly performance. The downstream and marketing division earned $777 million, well above forecasts of $623 million and standard guidance of $400 million. Equinor raised its 2026 share repurchase target from $1.5 billion to $3 billion whilst reducing capital investment in offshore wind and low-carbon projects. Total equity production increased 3% year-over-year to 2.165 million barrels of oil equivalent per day.

Norway's state oil company Equinor nearly doubled its quarterly profits as conflict in the Middle East disrupted Gulf oil supplies and drove prices higher. The company reported adjusted earnings before tax of $11.48bn for the three months to end-June, up from $6.54bn in the same period last year. Attacks on shipping reduced traffic through the Strait of Hormuz, which previously carried about a fifth of global oil supplies. Brent crude swung between $75 and over $100 per barrel during the quarter, compared with $60-$70 a year earlier. Equinor's average oil price reached $97.90 per barrel, up from $63 previously. European gas prices rose 32%. The Stavanger-based company announced it would return $3bn to investors through share buybacks in 2026, double the previous plan, whilst reducing renewable energy spending.

Equinor reported second-quarter adjusted net income of $3.44 billion, beating the $3.36 billion analyst estimate. The Norwegian energy company produced 2.2 million barrels of oil equivalent per day, a 3% increase year-on-year. Higher production and stronger European natural gas prices boosted performance. Chief Financial Officer Torgrim Reitan said trading results were nearly double normal levels. The company doubled its planned 2026 share buyback to $3 billion. Equinor shares rose 3.2% in Oslo trading. Norway's gas supply role has grown since Russia's 2022 Ukraine invasion reduced shipments to Europe. Recent turbine problems kept the Johan Castberg field offline for three weeks, though it has since returned to full capacity.