Annual Report 2022
In March 2023, we released our first integrated Annual Report combining financial and sustainability reporting into a single document, acknowledging our stakeholders’ expectations and the increasing importance of sustainability to our operational and financial performance. Our annual report for 2023 was published on March 21, 2024.
2022 was a year that demonstrated how valuable energy is to society. And at a time when it was more important than ever, people working for Equinor stepped up to deliver safe, secure, and reliable production with low emissions
Key figures for 2022
Equinor is a broad energy company, the largest oil and gas operator in Norway, one of the world’s largest offshore operators, and a growing force in renewables and low carbon solutions. Present in around 30 countries with approximately 22,000 employees, we provide reliable energy for societies worldwide and aim to be a leading company in the energy transition with the ambition to become a net-zero company by 2050.
These are non-GAAP figures. For items marked with an asterisk throughout this report, see section 5.8 Use and reconciliation of non-GAAP financial measures.
21,936
employees in 30 countries
1,649 GWh
renewable power generation, Equinor share
2,661 GWh
total power generation, Equinor share
0.4
Serious incident frequency
(per million hours worked)
+8%
gas production from the NCS
2.5
TRIF Total recordable injury frequency
(per million hours worked)
Always safe, high value, low carbon
2,039 mboe/d
oil and gas equity production
USD 52.2 billion
Current income tax expense
USD 13.7 billion
Capital distribution
including dividends paid and share buy-backs
6.9
CO2Â intensity, upstream oil & gas portfolio
(operated 100%, kg CO2 per boe)
Key figures compared with 2021
(in USD million) | 2022 | 2021 |
|---|---|---|
Total revenues and other income | 150,806 | 90,924 |
Net operating income | 78,811 | 33,663 |
Net income | 28,744 | 8,576 |
Effective tax rate | 63.4% | 72.8% |
Adjusted earnings* | 74,940 | 33,486 |
Adjusted earnings after tax* | 22,691 | 10,042 |
Free cash flow before capital distribution (in USD billion)* | 32.1 | 27.1 |
Return on capital employed, adjusted* | 55.2% | 22.7% |
Progress on our Energy transition plan
Equinor’s integrated Annual Report 2022:
All links and downloads
Date of publication: 23 March, 2023
- Annual report 2022 (PDF)
- Ã…rsrapport 2022 (Norwegian) (PDF)
- Annual report 2022 on Form 20F (PDF)
- 2022 Ã…rsrapport - Norwegian (XBRL data ESEF) (ZIP)
- 2022 Annual Report on Form 20-F (XBRL data SEC) (ZIP)
- 2022 Betalinger til myndigheter (PDF)
- 2022 Payments to governments (PDF)
- 2022 Payments to governments (XLSX)
- 2022 GRI and WEF index (PDF)
- 2022 Human rights statement (PDF)
- 2022 Human rights statement - Norwegian (PDF)
- 2022 Oil and gas reserves report (PDF)
- 2022 Executive remuneration report (PDF)
- 2022 Rapport om godtgjørelse til ledende personer (PDF)
- 2022 Energy transition plan progress report (PDF)
- 2022 Energiomstillingsplan framdriftsrapport (PDF)
- ESG reporting centre
Other reports and archive
All our annual reports dating back to 1972 are available for download below.
Cautionary note regarding forward-looking statements
This web page contains forward-looking statements. Forward-looking statements reflect current views with respect to future events and are, by their nature, subject to significant risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.