Equinor raised its 2026 production growth forecast to around 4%, from 3%, after quarterly profit climbed sharply. The Norwegian energy producer also announced a share buyback tranche of up to $1.13 billion. Adjusted earnings before tax rose to $12.34 billion in the July-September quarter, from $6.22 billion a year earlier. That beat the $12.19 billion consensus estimate compiled by Equinor. The war in the Middle East disrupted global energy supplies and pushed up commodity prices. Equity oil and gas production rose 2% year on year to 2.166 million barrels of oil equivalent per day. Net operating income reached $11.95 billion, against $5.27 billion a year earlier. Net income was $2.54 billion. The board approved a third-quarter cash dividend of $0.39 per share. The buyback is set to begin on October 29.

Standard Lithium and Equinor have filed a Preliminary Economic Assessment (PEA) for the Franklin lithium project in East Texas. It outlines output of up to 70,000 tonnes a year of battery-quality lithium carbonate over a 20-year modelled life, with an unlevered pre-tax NPV8 of $5.9 billion. The project also contemplates bromine production, giving Equinor a possible foothold in US critical minerals alongside its oil and gas business. The project is early stage. It still needs a Preliminary Feasibility Study, direct lithium extraction testing, and commercial decisions on bromine and potash. Analysts expect Equinor's revenue to fall 5.4% a year over the next three years, and its earnings to drop from $9.1 billion to $7.8 billion by 2029.

Equinor expects its marketing, midstream, and processing division to exceed its $400 million third-quarter guidance, driven by strong refining margins and high proceeds from oil and LNG trading. The Norwegian energy company attributes the performance to unusually strong European refining margins and optimised LNG trading. The average Dated Brent price for the quarter was $97 per barrel. Equinor's realised liquids price for its Norway operations ranged between $97 and $99 per barrel. The preliminary internal gas transfer price was $18.07 per million British thermal units. The company will report full third-quarter results on 28 October. Oil and LNG prices rebounded in the latter part of the quarter as Middle East tensions re-escalated.