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May 2020: Equinor Q1 results & AGM
Note: Equinor has suspended the share buy-back programme until further notice.
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.
Capital market updates
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
EX. DIVIDEND (OSE)
EX. DIVIDEND (NYSE)
Our stock market announcements
June 2, 2020
Recommendation from Equinor's nomination committee
The nomination committee in Equinor ASA recommends that the company's corporate assembly elects Tove Andersen as new member to Equinor’s board of directors.
May 18, 2020
Execution of debt capital market transactions
On Monday May 18, 2020 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed a total of USD 1.5 billion in the debt capital market.
May 18, 2020
Execution of debt capital market transactions
On May 18, Equinor ASA executed a total of EUR 1.75 billion in the debt capital market.
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
“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.
per day - oil and gas equity production
Total renewable energy equity production
Serious incident frequency
(SIF - per million hours worked)
USD 9.3 Billion
Net operating income
For the upstream oil and gas portfolio
(operated 100% kg CO2 per boe)
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.
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 firstname.lastname@example.org. For all other enquiries, please contact your local Equinor office or our general enquiry line.
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.
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.
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.