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Equinor 2023 Tax Contribution report

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The Troll A platform in the North Sea
The Troll A platform in the North Sea
(Photo: Jan Arne Wold / Elisabeth Sahl – Equinor)

The total tax contribution for Equinor amounted to USD 49.2 billion in 2022. Following Russia’s invasion of Ukraine, 2022 was a year with high and volatile energy prices.

Equinor focused on securing safe and reliable delivery of energy and became the largest provider of gas to Europe.

“Equinor is dedicated to contributing to progress for the societies where we operate, and paying tax where value is created is an important part of this. 2022 was a special year in the energy markets with high and volatile prices, followed by substantial tax contributions,” says CFO Torgrim Reitan.

Torgrim Reitan - portrait
CFO Torgrim Reitan
(Photo: Sheyda Aalgaard / Equinor)

In 2022, Equinor group companies contributed with tax, host government entitlement, royalty and fee payments of USD 49.2 billion globally. Of this, USD 44.3 billion was paid to Norway, where Equinor has the largest operations.

The financial results of 2022 were strengthened by the higher prices across energy markets, compared to 2021, and particularly high prices and higher production of gas to Europe. Through the year Equinor delivered solid operational performance, contributing to energy security.

Tax payments from Equinor provides governments and authorities with opportunities to increase welfare and strengthen their societies.

The Tax Contribution Report provides information about the corporate income tax Equinor paid in countries and locations in where we create value across all our businesses. The report discloses Equinor’s approach to tax and tax strategy, compliance, and governance.

“Equinor supports policies promoting the goals of the Paris Agreement and supports a price on carbon emissions as a measure to drive emissions reductions. The CO2 tax in Norway has promoted development of technology and solutions to produce oil and gas with lower emissions from operations on the Norwegian continental shelf,” states Reitan.

In 2022 Equinor paid USD 1.1 billion in environmental taxes and fees, including carbon quotas within the EU Emissions trading System.

This report complements other publications and disclosures such as Equinor’s Integrated Annual Report including Payments to Governments report.