Equinor披露2026年第三季度业绩：净利润25.45亿美元，油气产量增长指引上调至约4%

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of October 2026

Commission File Number 1-15200

Equinor ASA

(Translation of registrant’s name into English)

FORUSBEEN 50 NO-4035, STAVANGER, Norway

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X      Form 40-F

This Report on Form 6-K contains a report of the third quarter 2026 results of Equinor ASA.

2026

Third quarter

Financial statements and review

Equinor third quarter 2026

Key figures

Always safe

High value

Low carbon

Equinor third quarter 2026

Equinor third quarter 2026 results

Equinor delivered an adjusted operating income* of USD 12.35 billion in the third quarter of 2026. Equinor reported a net operating income of USD 11.95 billion and a

net income of USD 2.54 billion. Adjusted net income* was USD 2.86 billion, leading to adjusted earnings per share* of USD 1.20.

Delivering on the strategy

•Acquired gas-fired power plant in the US

•Progressing Bay du Nord with new partner in October

•Accessed attractive exploration acreage in Namibia, and

established a strategic exploration collaboration on the NCS

Strong production, cash flow and financial results

•Production growth of 2%

•Increased 2026 production guiding to ~4%

•Strong Marketing, Midstream and Processing results with record

contribution from the Mongstad refinery

•Cash flow from operations after taxes paid* of USD 8.1 billion

Capital distribution

•Third quarter cash dividend of USD 0.39 per share

•Fourth tranche of the share buy-back of up to USD 1,125 million

•Share buy-back of up to USD 3 billion for 2026

Anders Opedal, President and CEO of Equinor ASA:

“High production in the third quarter enabled us to capture additional

value from higher prices. Based on safe and efficient operations we are

increasing our 2026 guiding for oil and gas production growth from 3 to

around 4 per cent.”

“In a period of continued geopolitical tension, we remain committed to

safe and reliable operations, supplying the products our customers need.

At the Mongstad refinery, our operational performance was strong and we

achieved record results.”

“We continue to deliver on our strategy by creating new opportunities for

long-term value. In the quarter, we have accessed new exploration

acreage and acquired a stake in a gas-fired power plant in the US. We

have also progressed the Bay du Nord project in Canada with a new

partner.”

Anders Opedal

Equinor third quarter 2026

Equinor third quarter 2026

Delivering more energy

Equinor delivered high production in the third quarter

with a total equity production of 2,166 mboe per day.

This is a 2% increase compared to the same quarter

last year.

Production on the NCS remained high, and was

stable compared to the third quarter in 2025. New

fields, such as Halten East and Verdande, and

contribution from new wells offset natural decline

and unplanned losses from Johan Castberg and

Troll.

Production increased by 21% for the international oil

and gas reporting segment compared to the same

quarter last year. Main drivers were the addition of

production from Adura in the UK and Bacalhau in

Brazil, as well as lower turnaround activity. This was

partially offset by portfolio divestments and natural

decline.

The US production was lower than in the same

quarter last year. Onshore production remained high,

while planned downtime and natural decline offshore

impacted overall production levels.

The renewable power generation increased by 26%

due to contributions from Dogger Bank and a new

onshore asset in Brazil. The total power generation

was 1.32 TWh. Lower gas-to-power generation from

Triton resulted in a decrease in total power

generation in the third quarter.

Growing cash flow with strong financial

results

Equinor delivered an adjusted operating income* of

USD 12.35 billion and adjusted net income* was

USD 2.86 billion in the third quarter. The results are

primarily impacted by higher liquid prices and

European gas prices. In addition, international liftings

were lower than the company’s share of production,

resulting in lower sales volumes.

The reported net operating income of USD 11.95

billion is up from USD 5.27 billion in the same

quarter last year. The results were supported by

higher commodity prices and strong refining

margins.

Equinor realised a European gas price of USD 20.0

per mmbtu and a liquids price of USD 92.3 per bbl in

the third quarter.

The Marketing, Midstream and Processing results

were strong, primarily driven by high refining margins

and strong refining performance, as well as LNG

trading.

Adjusted operating and administrative expenses*

remained broadly stable compared to the same

quarter last year. Higher transportation costs and

other variable costs were offset by a lower impact of

changes in decommissioning estimates for a US

offshore asset.

Elevated commodity prices and high production

generated cash flows provided by operating

activities, before taxes paid and working capital

items, of USD 14.68 billion.

In the quarter, Equinor paid the two first NCS tax

instalments for 2026 totalling USD 6.2 billion.

Cash flow from operations after taxes paid* ended at

USD 8.14 billion.

Organic capital expenditure* was USD 3.28 billion

and total capital expenditures were USD 3.82 billion.

The net debt to capital employed adjusted ratio* was

3.8% at the end of the third quarter, compared to

10.4% last quarter.

Executing on strategy

On the NCS, Equinor, Aker BP and Vår Energi 

established a new strategic exploration partnership

to unlock greater value through closer collaboration.

In the quarter, Equinor also signed energy supply

agreements with companies in Poland, the

Netherlands and Germany.

Equinor acquired bp’s interest in Bay du Nord in

Canada in the quarter. In October, the company sold

a 30% interest to Shell. The project maturation

continues towards an investment decision.

Equinor entered Namibia through an exploration

licence interest and was involved in new discoveries

in Angola.

To further build its integrated power business,

Equinor acquired an interest in the gas-fired power

plant Lackawanna in the US.

Equinor had exploration activity on 13 wells in the

quarter. Six wells were completed of which three

were commercial. In addition a commercial discovery

was confirmed from one of the wells completed in

the second quarter.

Equinor third quarter 2026

Capital distribution

The board of directors has decided a cash dividend

of USD 0.39 per share for the third quarter of 2026.

This is in line with the communication on 4 February

2026, when results for the fourth quarter of 2025

were announced.

At the Capital Markets Day on 16 June this year,

Equinor announced an intention to increase the

share buy-back programme for 2026 by USD 1.5

billion. This brings the total expected programme for

2026 to up to USD 3 billion. The board has decided

to initiate a fourth and final tranche of the share buy-

back programme for 2026 of up to USD 1,125

million. The tranche will commence on 29 October

2026 and end no later than 1 February 2027.

The third tranche of the share buy-back programme

for 2026 was completed on 22 October with a total

value of USD 1,125 million.

All share buy-back amounts include shares to be

redeemed by the Norwegian State.

Equinor third quarter 2026

Third quarter 2026 review

Equinor third quarter 2026

Group review

Operations and financial results

Equinor delivered strong financial results in the third

quarter of 2026, realising value from high commodity

prices and elevated refining margins while

maintaining robust production levels.

Production in E&P Norway remained high in the third

quarter, in line with the same quarter last year.

Contributions from Halten East, Verdande and new

wells helped offset natural decline in mature fields

and higher unplanned losses on the NCS, notably at

Johan Castberg and Troll. For the first nine months,

the continued ramp-up of new fields drove a 5%

increase in production compared with the same

period last year.

In E&P International, higher contributions from Brazil

and the establishment of Adura in late 2025, together

with lower turnaround activity, increased production

in the third quarter and first nine months of 2026

compared with the corresponding periods last year.

Portfolio divestments and natural decline partially

offset the increase. Despite higher production, lifted

volumes were below entitlement production in the

quarter.

E&P USA production decreased in the third quarter

compared to the same quarter last year, as planned

downtime and natural decline in offshore production

more than offset higher onshore production. For the

first nine months, new wells across several assets

largely offset natural decline and planned offshore

turnarounds, resulting in broadly stable production

compared to the same period last year.

Renewable power generation increased by 26% in

the third quarter and 22% in the first nine months of

2026 compared with the corresponding periods last

year, driven by the ramp-up of Dogger Bank and

contributions from a newly operational asset in

Equinor third quarter 2026

Brazil. Lower gas-to-power generation more than

offset the increase in renewable power generation,

resulting in lower total power generation in the third

quarter and stable generation for the first nine

months compared with the corresponding periods

last year.

In the third quarter, Marketing, Midstream and

Processing delivered strong results, primarily driven

by elevated refining margins and high production

efficiency amid tight refining markets. Gas and LNG

contributed through trading optimisation,with

particularly strong LNG earnings, while Crude,

Products and Liquids reported a loss for the quarter

as the negative impact of derivative positions in a

tight shipping market more than offset strong

products trading. For the first nine months, results

were also supported by strong trading and high

refining margins.

Revenues for the third quarter and first nine months

of 2026 increased compared with the corresponding

periods last year, mainly driven by higher commodity

prices. The increase was partially offset by lower

third-party and lower liquids sales volumes, with

inventory timing effects impacting liquids sales

volumes in the third quarter.

Adjusted operating and administrative expenses*

remained broadly stable in the third quarter of 2026

compared with the same quarter last year. Higher

transportation costs and other variable elements

were offset by a lower impact from changes in asset

retirement obligation estimates for a late-life US

offshore asset. For the first nine months, expenses

increased compared with the corresponding period

last year, largely driven by higher transportation

costs due to increased freight rates and other

variable elements. The increase also reflected the

strengthening of the NOK against the USD, while

portfolio changes in E&P International partially offset

the increase.

The ramp-up of new fields in E&P Norway and E&P

International, together with the strengthening of the

NOK against the USD, contributed to higher

depreciation in the quarter and first nine months of

2026. The increase was partially offset by increased

proved reserves and the classification of certain E&P

International assets as held for sale.

Exploration expenses increased in the third quarter

and first nine months of 2026 compared with the

corresponding periods last year, mainly due to higher

field development costs across E&P Norway and

E&P International. A higher capitalisation rate on the

NCS in the first half of the year partially offset the

increase.

In the third quarter, net operating income included

impairments of USD 628 million related to an

offshore cross-border asset in Norway and the UK

and a USD 120 million increase in a provision in

E&P International, partially offset by a USD 165

million impairment reversal related to an offshore

asset in Norway. The first nine months of 2026 also

included a USD 467 million gain on the sale of

Argentina onshore assets and a USD 128 million

impairment related to an onshore asset in Norway in

the second quarter.

Net operating income in the third quarter and first

nine months of 2025 included net impairments of

USD 754 million and USD 1,855 million, respectively,

largely reflecting updated price assumptions. The

first nine months also included impairments of US

assets related to the Empire Wind projects.

Net financial items were broadly unchanged from the

third quarter of 2025, as lower losses on financial

investments were offset by higher currency losses.

For the first nine months of 2026, net financial items

improved primarily due to net positive fair value

development on financial investments, compared

with net negative fair value development in the first

nine months of 2025.

Taxes

The effective tax rate was 77.6% for the third quarter

of 2026, impacted by high commodity prices and a

high share of income from the NCS with statutory tax

rate of 78%, and currency effects in entities that are

taxable in other currencies than the functional

currency.

For the first nine months of 2026, the effective tax

rate was 69.3%, influenced by high share of income

from entities with low tax rates and divestment of

onshore assets in Argentina, partially offset by

increase in provisions for uncertain tax positions.

Cash flow and net debt

Favourable commodity prices and high production

generated cash flow provided by operating activities

before taxes paid and working capital items of USD

14,679 million in the third quarter, up from USD

9,098 million in the same period last year. For the

first nine months, cash flow provided by operating

activities before taxes paid and working capital items

increased from USD 28,885 million in the same

period last year to USD 39,722 million.

Cash flow from operations after taxes paid*

increased to USD 8,142 million from USD 5,334

million in the same quarter last year, mainly

reflecting higher income before tax. Dividends

received from Adura in the third quarter of 2026

totalled USD 225 million, of which USD 57 million

was included in cash flow from operations after taxes

paid*. For the first nine months of 2026, cash flow

from operations after taxes paid* increased to USD

21,838 million, compared to USD 14,666 million in

the same period last year.

Tax payments in the third quarter totalled USD 6,537

million, primarily consisting of the first two scheduled

Norwegian corporation tax instalments related to

2026 earnings. This is an increase from USD 3,764

million in the same period last year, with the increase

reflecting the significantly higher pricing environment

of 2026.

A working capital increase of USD 595 million

reduced cash flow in the third quarter of 2026,

compared to a decrease of USD 1,012 million in the

third quarter of 2025.

Net cash flow before capital distribution* decreased

from USD 5,484 million in the second quarter to USD

5,183 million in the third quarter, as the second

quarter included proceeds from the divestment of

onshore assets in Argentina.

In the third quarter, net cash flow* amounted to an

inflow of USD 1,108 million after capital distributions

of USD 4,076 million, compared with an outflow of

USD 3,565 million in the same quarter last year. The

prior-year outflow included payments related to the

2024 share buy-back programme. For the first nine

months of 2026, net cash flow* amounted to an

inflow of USD 7,294 million, compared with an

outflow of USD 4,058 million in the same period last

year, which also included an extraordinary dividend

paid in early 2025.

A decrease in net interest-bearing debt adjusted*,

mainly due to increased cash from operations and

higher equity, reduced the net debt to capital

employed adjusted* ratio at the end of September

2026 to 3.8%, from 10.4% at the end of June 2026.

Equinor third quarter 2026

Capital distribution

The board of directors has decided a cash dividend

of USD 0.39 per share for the third quarter of 2026.

This is in line with the communication on 4 February

2026, when results for the fourth quarter of 2025

were announced.

At the Capital Markets Day on 16 June this year,

Equinor announced an intention to increase the

share buy-back programme for 2026 by USD 1.5

billion. This brings the total expected programme for

2026 to up to USD 3 billion. The board has decided

to initiate a fourth and final tranche of the share buy-

back programme for 2026 of up to USD 1,125

million. The tranche will commence on 29 October

2026 and end no later than 1 February 2027.

The third tranche of the share buy-back programme

for 2026 was completed on 22 October with a total

value of USD 1,125 million.

All share buy-back amounts include shares to be

redeemed by the Norwegian State.

Health, safety and the environment

The twelve-month average serious incident

frequency (SIF) increased to 0.26 for the period

ending 30 September 2026, up from 0.21 at year-

end 2025.

Equinor’s absolute Scope 1 and 2 GHG emissions

from operated production (100% basis) were 7.6

million tonnes CO₂e in the first three quarters of

2026, an increase of 0.2 million tonnes CO₂e

compared with the same period in 2025. The

increase was mainly attributable to the start-up at

Bacalhau.

Equinor third quarter 2026

Outlook

•Organic capital expenditures* are estimated at

around USD 13 billion for 20261.

•Oil & gas production for 2026 is estimated to

grow around 4% compared to 2025 levels [4].

•Equinor’s ambition is to keep the unit of

production cost in the top quartile of its peer

group.

•Scheduled maintenance activity is estimated to

reduce equity production by around 35 mboe per

day for the full year of 2026.

These forward-looking statements reflect current

views about 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. Deferral of production to

create future value, gas off-take, timing of new

capacity coming on stream and operational regularity

and levels of industry product supply, demand and

pricing represent the most significant risks related to

the foregoing production guidance. Our future

financial performance, including cash flow and

liquidity, will be affected by geopolitical and

macroeconomic conditions, changes in the

regulatory and policy landscape, the development in

realised prices, including price differentials, tolls and

tariffs and other factors discussed elsewhere in the

report.

1) USD/NOK exchange rate assumption of 10

Equinor third quarter 2026

Supplementary operational disclosures

Equinor third quarter 2026

Equinor third quarter 2026

Exploration & Production Norway

Production and revenues

Production remained high in the third quarter of

2026, unchanged from the same quarter last year.

The ramp‑up of new fields, primarily Halten East and

Verdande, and contributions from new wells offset

natural decline in mature fields and higher

unplanned losses, notably at Johan Castberg and

Troll. Liquids production decreased, while gas

production increased in the quarter, reflecting the

higher share of liquids in the production mix from the

fields with natural decline.

For the first nine months, contributions from new

fields drove a 5% increase in production compared

to the same period last year.

The significant increase in gas and liquids prices,

together with robust production, resulted in higher

total revenues and other income in the third quarter

and the first nine months of 2026, relative to the

corresponding periods in 2025.

Operating expenses and financial results

Higher operation and maintenance costs, including

variable energy costs, were the primary drivers of

increased operating and administrative expenses in

the third quarter and first nine months of 2026

compared to the same periods last year. The

increase was further impacted by the strengthening

of the NOK against the USD.

The ramp-up of new fields, field-specific investments

and the strengthening of the NOK against the USD

led to higher depreciation and amortisation costs in

the third quarter and first nine months of 2026

compared to the same periods last year, partially

offset by increased proved reserves.

Exploration activity in the third quarter related to 10

wells, compared to 18 wells in the same quarter last

year. Despite the lower activity, exploration expenses

increased due to higher field development and

seismic costs. For the first nine months of 2026,

higher drilling expenditure and field development

costs led to an increase in expenses, partially offset

by a higher capitalisation rate.

In the third quarter and first nine months of 2026, net

impairments of USD 295 million negatively affected

net operating income.

In the first nine months of 2025, net operating

income included a gain related to the swap

transaction with Petoro of USD 491 million.

Additions to PP&E, intangibles and equity accounted

investments in the third quarter of 2026 were mainly

related to drilling of wells, modifications and

development projects. For the first nine months of

2026, additions decreased compared with the same

period last year, mainly reflecting assets acquired for

USD 1,086 million in the swap transaction with

Petoro in the first quarter of 2025.

Equinor third quarter 2026

Exploration & Production International

Production and revenues

The start-up of Bacalhau and the establishment of

Adura in the fourth quarter of 2025 led to an increase

in equity production in the third quarter and first nine

months of 2026 compared to the same periods last

year. Lower turnaround activity further contributed to

the increase. The increase was partially offset by

portfolio changes, including the sale of the 40%

operated interest in Peregrino in November 2025

and the Argentina onshore assets in May 2026, as

well as by natural production decline across certain

fields and operational issues at Roncador.

Production Sharing Agreements (PSA) effects

decreased in the third quarter and first nine months

of 2026 compared to the same periods last year,

mainly due to lower production and higher cost

recovery from Angola PSA fields.

A significant underlift timing effect led to a decrease

in adjusted total revenues and other income* in the

third quarter compared to the same period last year.

Higher prices partially offset this impact and

contributed positively in both the third quarter and

the first nine months of 2026 compared to the same

periods last year.

Operating expenses and financial results

Operating and administrative expenses were lower

in the third quarter compared to the same period last

year, primarily due to divestments and lower lifted

volumes. This decrease was partially offset by the

start-up of production of an asset in Brazil. The

decrease for the first nine months of 2026 was

mainly driven by divestments and lower operating

costs in Angola and at an asset in Brazil, partially

offset by Bacalhau production start-up and other

variable costs.

Higher depreciation rates due to the start of

production on a new field in Brazil late in 2025

resulted in higher depreciation costs in the third

quarter of 2026 compared to the same quarter last

year. For the first nine months of 2026, portfolio

changes more than offset the effect of production

start up in Brazil, resulting in lower depreciation

costs compared to the same period last year.

Early phase costs for a Canadian project led to

higher exploration expenses in the third quarter and

first nine months of 2026 compared to the

corresponding periods last year.

Net operating income in the third quarter of 2026

was negatively impacted by the impairment of a

cross-border asset in the UK and an increase in a

provision. A gain on sale of the Argentina onshore

assets, recognised in the second quarter of 2026,

positively impacted net operating income in the first

nine months of 2026. Net operating income in the

third quarter and the first nine months of 2025 was

negatively impacted by an impairment of assets held

for sale in the UK amounting to USD 650 million.

Additions to PP&E, intangibles and equity accounted

investments in the first nine months of 2026 reflect

the effects of portfolio changes and reduced

Bacalhau spending after production start-up in the

fourth quarter of 2025.

Equinor third quarter 2026

Exploration & Production USA

Production and revenues

E&P USA reported lower production in the third

quarter of 2026 compared with the corresponding

period in 2025. Lower US offshore production was

primarily driven by planned downtime and natural

decline. This decrease was slightly offset by an

increase in onshore production resulting from fewer

curtailments in Appalachia North. For the first nine

months of 2026, E&P USA production was stable

compared with the corresponding period in 2025.

Natural decline and planned turnarounds in US

offshore production were largely offset by production

from new wells drilled across several assets. In

addition, Appalachia production benefited from

higher gas prices during the first quarter of 2026.

Production remained broadly in line with the prior

year despite higher planned turnaround activity.

In the third quarter of 2026, higher liquids prices

more than offset lower US offshore production

volumes, resulting in increased revenues compared

with the third quarter of 2025. For the first nine

months of 2026, higher liquids and natural gas prices

contributed to increased total revenues and other

income compared with the corresponding period in

2025.

Operating expenses and financial results

Operating and administrative expenses decreased in

the third quarter and first nine months of 2026

compared with the corresponding periods in 2025.

An increase in asset retirement costs associated

with changes in estimates of a late-life offshore asset

was recognised in the third quarter of both 2025 and

2026. The expense recognised in 2026 was lower

than in the prior year, driving the decrease in

operating and administrative expenses between the

two periods. The cost levels between the quarters

were otherwise broadly stable. Operating and

administrative expenses for the first nine months of

2026 additionally benefited from a favourable non-

recurring item recognised during the first quarter of

2026.

Depreciation, amortisation and net impairment

charges decreased in both the third quarter and first

nine months of 2026 compared with the

corresponding periods in 2025. The decrease was

due to increased proved reserves at year-end 2025,

impairments recognised in 2025 on assets with

higher depreciation rates, and lower US offshore

production volumes. The decrease in the first nine

months was also related to a revised abandonment

cost estimate for a late-life asset recognised in the

comparative period.

Adjusted exploration expenses* increased both in

the third quarter and first nine months of 2026

compared to the corresponding periods in 2025,

partially driven by a revision to the abandonment

cost estimate for previously drilled exploration wells.

No exploration wells were drilled during any of the

periods presented.

Additions to property, plant and equipment,

intangible assets and equity-accounted investments

include continued development in US Offshore,

particularly at the Sparta field, in the third quarter

and first nine months of 2026.

Equinor third quarter 2026

Marketing, Midstream & Processing

Volumes, pricing and revenues

Liquids sales volumes were lower compared to the

previous quarter, driven by the normalisation of in-

transit inventory timing effects from the prior quarter.

Lower third-party sales volumes drove the decrease

compared with the first nine months of 2025.

Gas sales volumes increased slightly compared to

the previous quarter and the first nine months of

2025, due to higher Equinor gas production.

The realised European piped gas price increased

compared to both the previous quarter and the same

quarter last year, in line with higher market prices.

Tight market conditions and supply disruptions

following the conflict in the Middle East drove a

significant increase in European gas prices during

the quarter.

Increased US gas production and well-supplied

inventories drove the realised US piped gas price

slightly lower than the previous quarter and below

the same quarter last year.

Financial results

In the third quarter of 2026, adjusted operating

income* was supported by elevated refining margins

and high production efficiency. Refinery margins

benefitted from tight global refining capacity and

refinery disruptions in the Middle East and Russia.

Gas and LNG contributed strongly through

optimisation of equity and third-party trading. Crude,

Products and Liquids was negatively impacted by

derivative positions in a tight shipping market

resulting in a loss for the quarter, which was partially

offset by strong products trading driven by tight

markets and heightened volatility.

Adjusted operating income* increased relative to the

previous quarter, driven by significantly stronger

results from refining margins, higher LNG earnings

and stronger European gas prices, partially offset by

lower results from crude trading.

During the first nine months of 2026, adjusted

operating income* was higher than the same period

last year across all subsegments, primarily driven by

stronger trading results, higher refining margins and

lower costs related to developing low carbon

projects.

Net operating income includes the net effect of fair

value changes in storages, fair value changes in

embedded and hedge derivatives, changes in

onerous provisions and impairments.

Additions to PP&E, intangibles and equity accounted

investments in both the third quarter and the first

nine months of 2026 include new leases for LNG

vessels.

Equinor third quarter 2026

Power

Power generation

Renewable power generation increased in the third

quarter and first nine months of 2026 compared to

the corresponding periods last year, primarily driven

by the ramp up of Dogger Bank and contributions

from a newly operational onshore asset in Brazil.

Lower gas-to-power generation resulted in a

decrease in total power generation in the third

quarter, while total power generation remained

broadly stable for the first nine months.

Financial results

Power reported an adjusted operating loss* in the

third quarter of 2026, as strong trading results and

contributions from producing assets were more than

offset by project development costs and other

expenses. Power trading was the main positive

contributor, driven by favourable market conditions,

weather-driven volatility and value capture across

power markets. Significantly higher energy prices

increased both revenues and associated purchases.

Project development costs continued to negatively

impact the result, despite lower activity levels and

one-off refunds of grid connection costs related to

onshore renewables.

Stronger power trading results and lower project

development costs reduced the adjusted operating

loss* compared to the same quarter last year.

For the first nine months of 2026, the adjusted

operating loss* decreased compared to the same

period last year, largely due to the same drivers as

the third quarter and lower early-phase project costs.

Net operating income includes fair value changes in

derivatives. The first nine months of 2025 included

an impairment loss of USD 1,101 million related to

US offshore wind projects.

Additions to PP&E, intangibles and equity accounted

investments in the third quarter and first nine months

of 2026 were mainly related to the Empire Wind

project in the US.

With effect from the first quarter of 2026, the new

Power business area (PWR) is presented as a

reportable segment in Equinor’s financial statements.

The PWR business area is responsible for all power

activities, including the activities formerly included in

Renewables (REN) and flexible power assets

transferred from the business area Marketing,

Midstream and Processing (MMP), as well as Danske

Commodities’ power trading business.

Equinor third quarter 2026

Condensed interim financial statements and notes

Equinor third quarter 2026

CONSOLIDATED STATEMENT OF INCOME

Equinor third quarter 2026

CONSOLIDATED STATEMENT OF COMPREHENSIVE

INCOME

Equinor third quarter 2026

CONSOLIDATED BALANCE SHEET

Equinor third quarter 2026

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Equinor third quarter 2026

CONSOLIDATED STATEMENT OF CASH FLOWS