Information for analysts
Every quarter ahead of the earnings announcement, we collect earnings and production estimates from the equity analysts 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.
Key financials
Equinor publishes its results every quarter. From this page you can download our historical financial accounts in Excel and find links to our complete annual and quarterly reports.
We have reported our financial accounts according to IFRS since first quarter 2007.
Turnarounds
Production impact of turnarounds
Due to maintenance, our installations will be partly or fully closed down for shorter periods of time. This will affect the production of oil and natural gas.
On this page, we give an estimate of reduced production due to maintenance for the coming quarter. We will also give an estimate of the total annual effect of reduced production due to maintenance.
Turnaround 2023
For 2023 the turnaround volumes are for liquids and gas.
2023 |
|
|---|---|
| First quarter 2023 | Approximately 10.000 boepd (in quarterly effect) |
| Annual effect 2023 | Approximately 45.000 boepd |
Turnaround 2022
For 2022 the turnaround volumes are for liquids and gas.
2022 |
|
|---|---|
| Fourth quarter 2022 | Approximately 25.000 boepd (in quarterly effect) |
| Third quarter 2022 | Approximately 65.000 boepd (in quarterly effect) |
| Second quarter 2022 | Approximately 65.000 boepd (in quarterly effect) |
| First quarter 2022 | Approximately 5.000 boepd (in quarterly effect) |
| Annual effect 2022 | Approximately 40.000 boepd |
Internal gas price
The internal transfer price for natural gas is a volume weighted average price calculated at the end of every quarter.
For the NCS production, the internal transfer price paid from Marketing, Midstream and Processing (MMP) to Development & Production Norway (DPN) consists of the following price components: Volumes sold under regular sales contracts or in the spot market are priced using a basket of relevant price markers which is reflecting Equinor’s sales structure. This is based on quotations at Title Transfer Facility (TTF) [22.5%] , National Balancing Point (NBP) [30%], Trading Hub Europe (THE) [22.5%] and Point d'échange de gaz (PEG) [25%], with 70% Day ahead and 30% Month ahead on all hubs. Certain LNG volumes are priced at Henry Hub (HH) quotations.
The internal transfer price is reported after deducting costs relating to bringing the gas from the processing plants to market and a marketing fee element.
1 mmbtu is equivalent to 26.38 Sm3
Period | Internal gas price (USD/MMBTU) |
|---|---|
| 2022 | |
| Q4 | 27.22 |
| Q3 | 42.34 |
| Q2 | 25.53 |
| Q1 | 29.77 |
Period | Internal gas price (USD/MMBTU) |
|---|---|
| 2021 | |
| Q4 | 28.52 |
| Q3 | 13.91 |
| Q2 | 7.08 |
| Q1 | 5.46 |
Downloads
Analysts following Equinor
Institution | Name | Telephone | |
|---|---|---|---|
| ABG Sundal Collier | John A. Schj. Olaisen | +47 22 0161 87 | john.olaisen@abgsc.no |
| Alphavalue | Elif Binici | +33 1 70 61 10 55 | e.binici@alphavalue.eu |
| Arctic Securities | Daniel Stenslet | +47 22 93 72 12 | daniel.stenslet@arctic.com |
| Bank of America Merrill Lynch | Christopher Kuplent | +44 20 7995 8222 | christopher.kuplent@bofa.com |
| Barclays | Lydia Rainforth | +44 203 134 6669 | lydia.rainforth@barclays.com |
| Berenberg | Henry Tarr | +44 20 3207 7827 | Henry.Tarr@berenberg.com |
| Carnegie | Oddvar Björgan | +47 22 0093 56 | oddvar.bjorgan@carnegie.no |
| Citigroup | Alastair Syme | +44 20 7986 4030 | alastair.syme@citi.com |
| Deutsche Bank | James Hubbard | . | james.hubbard@db.com |
| DnB | Steffen Evjen | +47 24 16 92 97 | steffen.evjen@dnb.no |
| Exane BNP Paribas | James Evans | +44 7824 306811 | James.Evans@exanebnpparibas.com |
| Fearnley Securities | Jørgen Torstensen | +47 22 93 63 87 | j.torstensen@fearnleys.com |
| Goldman Sachs | Michele della Vigna | +44 20 7552-9383 | michele.dellavigna@gs.com |
| HSBC | Kim Fustier | +44 20 3359 2136 | kim.fustier@hsbc.com |
| Jefferies | Giacomo Romeo | +44 20 7548 4727 | giacomo.romeo@jefferies.com |
| J.P. Morgan Cazenove | Christyan F. Malek | +44 20 7134 9188 | christyan.f.malek@jpmorgan.com |
| Kepler Cheuvreux | Bertrand Hodée | +33 1 70 98 85 83 | bhodee@keplercheuvreux.com |
| Morgan Stanley | Martijn Rats | +44 20 7425-6618 | martijn.rats@morganstanley.com |
| Nordea | Jørgen V. Bruaset | +47 24 01 50 80 | jorgen.bruaset@nordea.com |
| Norne Securities | Irmantas Vaskela | +47 97 4760 64 | irmantas.vaskela@norne.no |
| ODDO BHF | Ahmed Ben Salem | +33(0)1 44 94 56 05 | Ahmed.ben-salem@oddo-bhf.com |
| Palissy Advisors | Anish Kapadia | +44 7730 431 892 | ak@palyssiadbvisors.com |
| Pareto | Tom Erik Kristiansen | +47 22 878700 | tomerik.kristiansen@paretosec.com |
| RBC | Biraj Borkhataria | +44 20 7029 7556 | biraj.borkhataria@rbccm.com |
| Redburn | Peter Low | +44 20 7000 2024 | Peter.Low@redburn.com |
| Sanford C. Bernstein | Oswald Clint | +44 20 7170 5089 | oswald.clint@bernstein.com |
| Santander | Jason Kenney | +44 13 1447 7710 | Jason.kenney@santanderCIB.co.uk |
| SEB | Anders Rosenlund | +47 21 00 85 02 | anders.rosenlund@seb.no |
| Societe Generale | Yoann Charenton | +44 20 7762 5902 | yoann.charenton@sgcib.com |
| Sparebank1 | Teodor Sveen Nilsen | +47 957 43 626 | tsn@sb1markets.no |
| UBS | Henri Patricot | +33 1 4888 3033 | henri.patricot@ubs.com |