Delivering on the strategy
- Acquired gas-fired power plant in the US
- Progressing Bay du Nord with new partner in October
- Accessed attractive exploration acreage in
Namibia , and established a strategic exploration collaboration on the NCS
Strong production, cash flow and financial results
- Production growth of 2%
- Increased 2026 production guiding to ~4%
- Strong Marketing, Midstream and Processing results with record contribution from the
Mongstad refinery - Cash flow from operations after taxes paid* of
USD 8.1 billion
Capital distribution
- Third quarter cash dividend of
USD 0.39 per share - Fourth tranche of the share buy-back of up to
USD 1,125 million - Share buy-back of up to
USD 3 billion for 2026
“High production in the third quarter enabled us to capture additional value from higher prices. Based on safe and efficient operations we are increasing our 2026 guiding for oil and gas production growth from 3 to around 4 per cent.”
“In a period of continued geopolitical tension, we remain committed to safe and reliable operations, supplying the products our customers need. At the
“We continue to deliver on our strategy by creating new opportunities for long-term value. In the quarter, we have accessed new exploration acreage and acquired a stake in a gas-fired power plant in the US. We have also progressed the Bay du Nord project in
Delivering more energy
Production on the NCS remained high, and was stable compared to the third quarter in 2025. New fields, such as Halten East and Verdande, and contribution from new wells offset natural decline and unplanned losses from
Production increased by 21% for the international oil and gas reporting segment compared to the same quarter last year. Main drivers were the addition of production from Adura in the
The US production was lower than in the same quarter last year. Onshore production remained high, while planned downtime and natural decline offshore impacted overall production levels.
The renewable power generation increased by 26% due to contributions from
Growing cash flow with strong financial results
The reported net operating income of
The Marketing, Midstream and Processing results were strong, primarily driven by high refining margins and strong refining performance, as well as LNG trading.
Adjusted operating and administrative expenses* remained broadly stable compared to the same quarter last year. Higher transportation costs and other variable costs were offset by a lower impact of changes in decommissioning estimates for a US offshore asset.
Elevated commodity prices and high production generated cash flows provided by operating activities, before taxes paid and working capital items, of
In the quarter,
Cash flow from operations after taxes paid* ended at
Organic capital expenditure* was
The net debt to capital employed adjusted ratio* was 3.8% at the end of the third quarter, compared to 10.4% last quarter.
Executing on strategy
On the NCS,
To further build its integrated power business,
Capital distribution
The board of directors has decided a cash dividend of
At the Capital Markets Day on 16 June this year,
The third tranche of the share buy-back programme for 2026 was completed on 22 October with a total value of
All share buy-back amounts include shares to be redeemed by the Norwegian State.
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*For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.
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Further information from:
Investor relations
+47 918 01 791 (mobile)
Press
+47 412 60 584 (mobile)
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act
Attachments
- Equinor Financial Statements and Review Third Quarter 2026
- CFO presentation Third quarter 2026 results
