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May 2020: Equinor Q1 results & AGM

Note: Equinor has suspended the share buy-back programme until further notice.

Equinor in brief

Equinor is a broad energy company with more than 21,000 employees, present in more than 30 countries worldwide. We develop oil, gas, wind, solar energy and low carbon solutions. Our headquarters are in Stavanger, Norway. We are listed on the New York and Oslo stock exchanges.

0 mboe/day equity production (Q4 2019)
0 Q4 2019 adjusted pre-tax earning (USD billion)
0 2019 adjusted pre-tax earnings (USD billion)
0 barrels proved oil and gas reserves (2019)

The Equinor share is listed on the Oslo Stock Exchange and the New York Stock Exchange with ticker code EQNR. The Norwegian state is the largest shareholder with 67% of the shares, managed by the Ministry of Petroleum and Energy.

EQNR 0 NOK OSLO STOCK EXCHANGE (OSE) 05/06/2020 (GMT +1)
EQNR 0 USD NEW YORK STOCK EXCHANGE (NYSE) 06/06/2020 CET at least 20mins delayed

Financial calendar

14 May

Equinor - Annual general meeting 2020

Financial calendar Read more

Capital market updates

Our dividend

Our dividend is declared in USD, and the NOK dividend is calculated and communicated four business days after the record date for Oslo Børs (OSE) shareholders.

Q1 CASH DIVIDEND USD

0

EX. DIVIDEND (OSE)

0

EX. DIVIDEND (NYSE)

0

next payment 

0
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Annual Reports

Our latest Annual Report is the 2019 edition, published on March 20, 2020. Previous annual reports are available for download, dating back to 1972.

Annual Report 2019

Published 20 March, 2020

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“The outbreak of the Corona virus and the sharp drop in oil prices are impacting industries and companies around the world and are expected to impact Equinor for a long time. We are a robust company with a strong balance sheet and we are now really benefitting from the improvements in recent years. Through those efforts, we are better prepared to handle volatile markets and unexpected events,” says Eldar Sætre, President and CEO of Equinor ASA.

equinor-icon-oil-gas-red.svg

2,074 mboe

per day - oil and gas equity production

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1.8 TWh

Total renewable energy equity production

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0.6 SIF

Serious incident frequency

(SIF - per million hours worked)

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USD 9.3 Billion

Net operating income

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CO2 intensity

For the upstream oil and gas portfolio

(operated 100% kg CO2 per boe)

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21,412

Employees across more than 30 countries

In 2019 Equinor proved strong operational capabilities and brought six new fields on stream, including Johan Sverdrup. The major field was put on stream ahead of schedule and below cost.

“We are strengthening our portfolio to underpin a competitive and resilient business model fit for long term value creation, and in line with the Paris Agreement," writes Sætre, in his letter to fellow shareholders.

Total equity production ended at 2.074 million barrels of oil equivalent per day.

2019 saw a decrease in prices and lower margins for the industry.

In 2019, the cash flow from operations before tax ended at USD 21.8 billion. Equinor delivered a solid result with adjusted earnings of USD 13.5 billion and USD 4.93 billion after tax.

According to IFRS Equinor’s net operating income was UDS 9.30 billion and net income was USD 1.85 billion. The results are impacted by lower prices for gas and liquids, as well as net impairment losses.

Total capital distribution to shareholders increased by 42% to USD 3.78 billion including a 13% increase in cash dividend, and introduction of the share buy-back programme in September 2019.

"2019 was also truly a game-changing year for our renewables business. We made the investment decision for Hywind Tampen in Norway and won the opportunities to develop Empire Wind offshore New York and Dogger Bank in the UK, the world’s largest offshore wind development," writes Sætre.

Equinor is developing as a global offshore wind major with projects under development adding 2.8 gigawatts of renewables electricity capacity. In 2026 the production capacity is expected to be 4-6 GW, which is around 10 times current capacity.

Organic capex for 2019 was USD 10 billion, around USD 1 billion below the original guiding, achieved through strong project deliveries and capital discipline. Equinor completed 42 exploration wells in 2019.

For the full year, total recordable injuries frequency came in at 2.5, an improvement from 2.8 in the previous year. The serious incident frequency ended at 0.6, up from 0.5. 

2018

2017

Earlier reports

Annual reports dating back to 1972 are available for download from our archive.

Whom to contact in Investor Relations

In most cases, your account registrar will be able to help you with questions relating to your portfolio, dividends and participation at Annual General Meetings. For specific enquiries that must be addressed to our Investor Relations department, please call +47 51990000 or send e-mail to irpost@equinor.com. For all other enquiries, please contact your local Equinor office or our general enquiry line.

Investor Relations. Employee
Peter Hutton
Senior vice president Equinor, Norway
Investor Relations
Investor Relations. Employee
Lars Valdresbråten
IR Officer Equinor, Norway
Investor Relations
Investor Relations. Employee
Ieva Ozola
IR Officer Equinor, USA
Investor Relations
Investor Relations; Employee
Erik Gonder
IR Officer Equinor, Norway
Investor Relations
Marta Nevøy Bjørkestrand
Marta Nevøy Bjørkestrand
IR Officer Equinor, Norway
Investor Relations
Investor Relations. Employee
Marius Javier Sandnes
Senior consultant Equinor, Norway
Investor Relations
Photo of Ida Marie Fjellheim
Ida Marie Fjellheim
IR Officer Equinor, Norway
Investor Relations
helge-hove-haldorsen
Helge Hove Haldorsen
Vice president Equinor, USA
Investor Relations
anne-sofie-dale-statoil.jpg
Anne Sofie Dahle
Senior consultant Equinor, Norway
Investor Relations

Information for analysts

Every quarter ahead of the earnings announcement, we collect earnings and production estimates from the equity analysts currently covering the company. These numbers become a proxy for the market’s expectations of our results.

Closed Period
We voluntarily apply a ‘closed period’ before the results of a reporting period are announced. During the two-week period preceding the announcement, we limit our communications with the capital market and will not meet with capital market representatives.

Our debt and credit ratings

Our debt strategy is to support the overall financial flexibility of the group and ensure competitive terms and conditions on long term debt. 

For a complete background on our debt and credit ratings, please follow the link below. The page contains full information on our debt strategy, 

debt programmes, bond issues, maturity profile, financial ratios, credit facilities and credit ratings. Our contacts are found below.

Our registrar

The registrar manages Equinor’s share register on behalf of the company, and is responsible for ensuring dividend payments, providing information about shareholding in Equinor and assisting with practical information about the shareholder’s account manager. We have appointed DNB Bank ASA as our registrar:

DNB Bank ASA
Verdipapirservice
Dronning Eufemias gate 30, Bygg M-10S
N-0191 Oslo
Norway

kua@dnb.no
+47 23 26 80 20

J.P. Morgan Chase Bank N.A. acts as depositary for the ADR holdings traded on the New York Stock Exchange. Queries can be directed to them at them as follows:
JP Morgan Chase Bank N.A.
P.O. Box 64504
St. Paul, MN 55164-0504

Email: jpmorgan.adr@eq-us.com
Toll-free: +1 (800) 990 1135
Direct Dial: +1 (615) 453 2128


After our partial privatisation in 2001, we were listed on the Oslo and New York stock exchanges, ensuring broad international ownership. Equinor has one class of shares, with all shares carrying equal right to vote at general meetings.

Geographic distribution of shareholders 

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Free float breakdown 

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*All figures from Annual report unless otherwise stated