In 2023, we released our integrated Annual Report for 2022 combining financial and sustainability reporting into a single document for the first time, acknowledging our stakeholders’ expectations and the increasing importance of sustainability to our operational and financial performance.
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
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.
Always safe. High value. Low carbon.
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.
employees in 30 countries
renewable power generation, Equinor share
total power generation, Equinor share
Serious incident frequency
(per million hours worked)
gas production from the NCS
TRIF Total recordable injury frequency
(per million hours worked)
oil and gas equity production
Current income tax expense
Capital distribution
including dividends paid and share buy-backs
(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% |
Date of publication: 23 March, 2023
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.