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Market consensus of analysts

Our consensus of analysts represents the average estimate of multiple independent financial and equity analysts following Equinor. We aggregate their forecasts on key metrics such as earnings and production estimates, helping investors to predict performance and providing a benchmark for comparing actual outcomes.

Analyst consensus

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted earnings (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax earnings (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

2nd quarter 2023 — Collected July 2023, 21 analysts provided input

In million USD

E&P Norway 6106
E&P International 711
E&P USA 260
MMP 643
REN -46
Other -37
Adjusted earnings before tax 7637
Tax, E&P Norway 4691
Tax, E&P International 269
Tax E&P USA 62
Tax, MMP 309
Tax, REN -4
Tax, Other -6
Tax in total 5321
Adjusted earnings after tax 2316
Expensed exploration impacting EPN 92
Expensed exploration impacting EPI -76
Expensed exploration impacting EP USA 22
mbd
Liquids production Norway 635
Gas production Norway 707
Liquids production EPI, equity 286
Gas production EPI, equity 40
Liquids production EP USA, equity 145
Gas production EP USA, equity 205
Total production, equity 2017
PSA/royalty effect, EPI 76
PSA/royalty effect, EP USA 49
Total production, entitlement 1893
Realized price EPN, liquids/bbl USD 73.8
Realized price EPI, liquids/bbl USD 67.3
Realized price EP USA, liquids/bbl USD 62.4

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted earnings (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax earnings (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

1st quarter 2023 — Collected April 2023, 26 analysts provided input

In million USD

E&P Norway 9516
E&P International 506
E&P USA 266
MMP 986
REN -38
Other -29
Adjusted earnings before tax 11 207
Tax, E&P Norway 7322
Tax, E&P International 195
Tax E&P USA 42
Tax, MMP 513
Tax, REN -4
Tax, Other -8
Tax in total 8060
Adjusted earnings after tax 3147
Expensed exploration impacting EPN 94
Expensed exploration impacting EPI 92
Expensed exploration impacting EP USA 40
mbd
Liquids production Norway 635
Gas production Norway 795
Liquids production EPI, equity 284
Gas production EPI, equity 45
Liquids production EP USA, equity 131
Gas production EP USA, equity 199
Total production, equity 2089
PSA/royalty effect, EPI 85
PSA/royalty effect, EP USA 44
Total production, entitlement 1960
Realized price EPN, liquids/bbl USD 77.5
Realized price EPI, liquids/bbl USD 68.5
Realized price EP USA, liquids/bbl USD 61.7

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted earnings (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax earnings (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

Historical consensus information and invitations for consensus input