Equinor ASA ADR

Equinor ASA stands to benefit from elevated Brent crude prices as its expanding production base increases exposure to stronger crude realizations. Brent is trading above $100 per barrel amid Middle East supply disruptions and falling global inventories, with disruptions in the Strait of Hormuz restricting regional energy exports. Equinor's upstream portfolio is supported by production growth from assets including Johan Castberg, Eirin, Symra and Bacalhau, and its low breakeven after a dividend of about $50 per barrel supports strong cash generation even if Brent retreats. The U.S. Energy Information Administration forecasts Brent to average around $90 per barrel in the second half of 2026. Shell plc saw its second-quarter 2026 upstream adjusted earnings rise as its realized liquids price increased to $89 per barrel from $72 in the prior quarter, while TotalEnergies SE said an $8-per-barrel increase in Brent was enough to offset the expected 2026 cash-flow impact from affected assets in Iraq, Qatar and the United Arab Emirates. Equinor shares have gained 67.7% over the past year against the industry's 115.7% growth, and the stock trades at a trailing 12-month EV/EBITDA of 2.2X versus the industry average of 5.94X.

Northern Lights, the carbon capture and storage joint venture owned by Shell, Equinor and TotalEnergies, has signed a new customer agreement with Oresundskraft Kraft & Varme, owned by the City of Helsingborg. Under the deal, CO2 will be captured and liquefied at Oresundskraft's Filbornaverket waste-to-energy plant in Helsingborg, Sweden, trucked to the Port of Halland in Halmstad, then shipped to Northern Lights' receiving terminal in Oygarden, Norway, for permanent storage in a reservoir roughly 2,600 meters beneath the seabed. Northern Lights will provide transportation and storage for up to 200,000 metric tons of CO2 per year, with operations targeted to begin in the fourth quarter of 2029 subject to agreed conditions. Oresundskraft becomes Northern Lights' second Swedish customer after Stockholm Exergi, and the seventh industrial customer overall across four countries. Northern Lights, described as the first of its kind to enable cross-border CO2 transportation and storage, completed its first CO2 injection in 2025, marking the start of commercial storage activity.

TD Cowen analyst Jason Gabelman identified leading integrated oil companies positioned for strong third-quarter results, with TotalEnergies topping the list as excess cash generation builds across the sector. The analyst noted that integrated oil companies are directing excess cash toward balance sheets rather than raising distributions, signaling elevated macro uncertainty following Middle East conflict developments. TD Cowen estimates the peer group will generate $100 billion in excess cash from third-quarter 2026 through fourth-quarter 2027 at strip prices above forecast distributions and target debt metrics. The firm's earnings estimates stand roughly 20% above third-quarter consensus for both earnings per share and free cash flow, reflecting a rising commodity environment through the quarter that consensus has yet to fully capture. TotalEnergies remains TD Cowen's top pick, with performance expected to benefit from its September 28 Investor Day, and the analyst incorporated $0.35 per share trading outperformance for the company while expecting roughly equal free cash flow beats. Equinor is favored into earnings given strong gas prices and a lag on cash tax payments, with the company expected to beat consensus earnings per share by the widest margin, while ExxonMobil could see investors rotate back from Chevron, for which TD Cowen includes a $1.50 per share timing headwind.

Equinor has been upgraded to a Zacks Rank #1 (Strong Buy), a rating driven by an upward trend in earnings estimates. The Zacks Consensus Estimate for the oil and gas company has increased 4.3% over the past three months. For the fiscal year ending December 2026, Equinor is expected to earn $5.29 per share, unchanged from the year-ago reported number. The upgrade places Equinor in the top 5% of the more than 4,000 Zacks-covered stocks in terms of estimate revisions, implying the stock might move higher in the near term. Zacks Rank #1 stocks have generated an average annual return of +25% since 1988.

Smackover Lithium has amended its binding commercial offtake agreement with Trafigura Trading LLC for the South West Arkansas Project, adding an option to deliver up to an additional 4,000 metric tonnes of battery-quality lithium carbonate per year on top of the initial 8,000 metric tonne per year commitment. Combined, the maximum possible volumes to be delivered to Trafigura on a take-or-pay basis has increased to 12,000 metric tonnes of battery-quality lithium carbonate per year over the 10-year Agreement beginning at the start of commercial production, with pricing and other key commercial terms remaining confidential. Because the additional volume is deliverable solely at Smackover Lithium's election, the partnership retains the ability to allocate that volume to other strategic customers in the future, and an additional offtake agreement is not required to move forward with Project financing. Together with the recently announced binding take-or-pay agreement with LG Energy Solution for 8,000 metric tonnes per year, total possible commitments have now reached 20,000 metric tonnes of battery-quality lithium carbonate per year, exceeding the Project's initial target of securing customer offtake for roughly 80%, or 18,000, of the 22,500 tonnes of annual nameplate lithium carbonate capacity in its initial phase. Smackover Lithium, a partnership between Standard Lithium and Equinor formed in May 2024 in which Standard Lithium holds a 55% interest and Equinor holds 45%, said due diligence is well underway with three major Export Credit Agencies on a senior secured, limited recourse debt financing package of around $1.1 billion, and it continues to target a Final Investment Decision later this year before moving into construction, enabling first commercial production of battery-quality lithium carbonate in 2029.

PTT is studying investments in several overseas liquefied natural gas, or LNG, production projects and expects to finalise and propose one project to its board of directors for consideration within this year. Mr. Jaturong Voravitsuratwattana, Senior Executive Vice President of the International Trading Business Unit, said the LNG production sources to be invested in must initially have a volume of one million tonnes per year, and the decision will be based on return conditions in both cases: where the rate of return is very high even without the right to buy gas back for sale, and where the return is only slightly above the average cost of capital but comes with the right to buy gas back. PTT has set aside approximately one billion US dollars for investment in LNG production sources and plans to expand its investments further in the future to strengthen its LNG trading business, which is expected to reach 3.7 million tonnes in 2026 and expand to 10 million tonnes in 2030 and 15 million tonnes by 2035, supporting PTT's advance to become a Global LNG Player. Last week, PTT International Trading Company Limited, or PTTT, signed a cooperation agreement with Korea East-West Power Co., Ltd., or EWP, and also signed a long-term LNG purchase and sale agreement with GS Energy Trading Singapore Pte. Ltd., or GSETS, which is PTTT's first long-term LNG sales contract with GSETS, as well as with Equinor ASA of Norway. Meanwhile, Globlex Securities continues to recommend buying PTT and has raised its target price from 45 baht to 49 baht per share.

PTT Group is pressing ahead with expanding its role in the global energy market by signing long-term liquefied natural gas, or LNG, purchase and sale agreements and cooperation agreements with international partners at Gastech 2026, in a move to increase flexibility in sourcing and managing energy from various sources around the world. One of the key collaborations is the signing of a long-term LNG purchase and sale agreement between PTT International Trading Pte Ltd, or PTTT, and GS Energy Trading Singapore Pte. Ltd., or GSETS, an energy company from the Republic of Korea. This marks the first long-term LNG sales agreement between the two parties. Dr. Kongkrapan Intarajang, Chief Executive Officer and President of PTT Public Company Limited, and Mr. Yongsoo Huh, Vice Chairman and Chief Executive Officer of GS Energy Corporation, together with Mr. Prasong Intaranongpai, Chief Operating Officer of the Downstream Petroleum Business Group, and Mr. Jaturong Worawitsurawatthana, Executive Vice President of the International Trading Business Unit, witnessed the signing. The collaboration aims to strengthen LNG trade between Thailand and the Republic of Korea and to expand opportunities into major markets in the North Asia region. Meanwhile, PTTT also signed an agreement with Korea East-West Power Co., Ltd., or EWP, to seek opportunities in the LNG business, both in enhancing management efficiency and in joint investment in upstream operations. In addition, PTTT signed a long-term LNG purchase and sale agreement with Equinor ASA, or Equinor, an energy company from the Kingdom of Norway, reflecting the expansion of its partner network and the linking of energy sources from multiple regions around the world. Cooperation with partners in both Asia and Europe will help accelerate the expansion of its LNG portfolio, increase flexibility in managing the LNG supply chain, and support PTT Group's goal of becoming a Global LNG Player in order to create long-term growth.

Equinor ASA has signed a long-term agreement with Thailand's PTT Trading for the supply of liquefied natural gas, though the Norwegian energy firm did not disclose the contract's volume. The deal builds on an existing relationship in which Equinor regularly supplies PTT Trading with crude and refined products. The agreement supports Equinor's recently announced plan to expand its global LNG portfolio to nearly 10-15 million tons per year by the early 2030s, with a particular push in Europe and Asia. Equinor produces LNG at the Hammerfest LNG plant in northern Norway and also buys LNG under long-term contracts with Cheniere Energy, having lifted its first cargo from Cheniere's Sabine Pass facility in August. The company said the United States will play a crucial role in its LNG business as it seeks to meet growing demand from Europe and Asia.

Equinor and its partner Standard Lithium announced a positive Preliminary Economic Assessment for the Franklin lithium project in Texas, operated through their joint venture Smackover Lithium. The project targets production of battery-quality lithium carbonate at large scale, and Equinor framed the PEA as a key step in its move beyond traditional oil and gas toward critical battery minerals exposure. The assessment outlines a US$3.5b initial investment, with production that may not start until the early 2030s. Equinor, a large energy producer with a NOK995.7b market cap focused on oil and gas operations in Norway and internationally, now faces the question of whether the partners will advance Franklin from PEA to a full feasibility study and then toward a final investment decision, with a SWA Project decision planned for late 2026.

Equinor ASA purchased 379,361 of its own shares on the Oslo Stock Exchange on 15 September 2026 at an average price of NOK 419.1253 per share, for a total transaction value of NOK 158,999,793. The purchase falls under the company's buy-back programme for shares to be used in share-based incentive programmes for employees and management, announced on 4 February 2026 and running from 13 February 2026 to 15 January 2027. The programme's total purchase amount is NOK 1,971,000,000, with a maximum of 19,600,000 shares to be acquired, of which up to 7,920,000 shares can be bought between 13 February 2026 and 15 May 2026 and up to 11,680,000 shares between 15 May 2026 and 15 January 2027. Including this latest transaction, Equinor has bought back 3,778,442 shares under the programme at a weighted average price of NOK 344.8107, for a total of NOK 1,302,847,119. Following the transactions, Equinor ASA owns 19,798,825 own shares, corresponding to 0.83% of its share capital, including shares purchased under the previous buy-back programme for employee share-based incentive programmes and shares bought under disclosed buy-back programmes that will be used to reduce the company's issued share capital.

Equinor ASA plans to grow its liquefied natural gas supply portfolio to 10-15 million metric tons per year by the early 2030s, up from an expected level of around 7 million tpy in 2030 once U.S. supplies ramp up. The Norwegian integrated energy company is in talks with counterparties in India and parts of Southeast Asia seeking new sources of supply, focusing on state-owned energy companies and fertilizer producers, and is expected to announce a second LNG supply deal with an Asian buyer this week. Disruptions to shipping through the Strait of Hormuz, which carries about one-fifth of total global energy flows, have affected LNG exports from Qatar and the UAE, pushing Asian buyers toward alternative sources and lifting European benchmark natural gas prices well above year-ago levels. Equinor loaded its first U.S. LNG cargo in August 2026 from the Sabine Pass facility in Louisiana, operated by Cheniere Energy, and is evaluating additional supply from the U.S. East Coast, Canada's West Coast, South America and Africa as it builds a diversified portfolio and diversifies pricing exposure. Equinor currently carries a Zacks Rank #3 (Hold).

Techstep ASA reported 12% year-on-year revenue growth in Q2 2026 to NOK228.8 million, driven by device deliveries including to Helse Midt-Norge, but net gross profit fell 25% to NOK52 million as margin dropped to 22.7% from 33.8%. Adjusted EBITA turned negative at NOK12.9 million, a year-on-year decline of NOK13.3 million, and the net loss was NOK30.5 million, while own software revenues declined 35% to NOK15.7 million and operating cash flow was negative NOK16.1 million. The company is executing a cost reduction program targeting an annualized cost base of NOK218 million by the end of 2026, down from NOK312 million in 2025, including 25 FTE reductions, and has secured a NOK40 million bridge facility plus a fully underwritten rights issue of at least NOK83.3 million guaranteed by five shareholders at NOK1 per share. Commercial highlights included first deliveries in Spain through Vodafone and other operators, with potential for up to 80,000 devices by 2027, and contract renewals with Equinor and Bane NOR. CFO Havard Haukdal said the share price decline triggers a goodwill impairment assessment in Q3 2026, with goodwill standing at NOK485 million, and CEO Morten Meier said Q2 profitability was below expectations with credibility to be built through disciplined execution.

Equinor ASA has purchased 700,000 of its own shares at an average price of NOK 400.9647 per share during the week of August 31 to September 4, 2026, as part of the third tranche of its 2026 share buy-back programme. This tranche, announced on July 22, 2026, runs from July 23 to no later than October 26, 2026. The transactions, executed on the Oslo Stock Exchange, bring the total accumulated buy-backs under this tranche to 4,348,520 shares at an average price of NOK 388.0303, for a total value of NOK 1,687,357,582.51. Following these purchases, Equinor holds 18,803,431 own shares, representing 0.79% of its share capital, including shares under its share savings programme.

The U.K. government is expected to approve development of the Jackdaw gas field in the North Sea later this month, according to the BBC and other reports. Energy Secretary Miatta Fahnbulleh is also expected to approve the Rosebank oil field in the coming months, The Guardian reported. Both fields are operated by Adura, a joint venture between Shell and Equinor, with Ithaca Energy owning 20% of Rosebank. The projects were originally approved in 2022 but were blocked by a Scottish court ruling after environmental groups argued their climate impact was not fully considered. Jackdaw and Rosebank are relatively small, with forecast peak production of 40,000 and 70,000 barrels of oil equivalent per day, respectively. Adura says Jackdaw could supply 6% of the U.K.'s total gas output at its peak, while environmental groups estimate it will meet just 2% of U.K. gas demand over its 10-year lifetime. The joint venture also projects the two fields will generate £1.4 billion, or about $1.9 billion, in tax revenues by 2029.

Equinor has begun operations at the Citrus Flatts energy storage facility in Harlingen, Texas, its largest energy storage project in the US to date. The 100MW/200MWh battery facility, completed by Equinor's wholly owned subsidiary East Point Energy, is the fifth battery storage site Equinor has put into commercial service in the past four years. It becomes East Point Energy's second operating project following the launch of the 10MW/20MWh Sunset Ridge facility in 2025. The combined capacity of Citrus Flatts and Sunset Ridge is sufficient to power approximately 30,000 Texas households for up to two hours, and both projects participate on a merchant basis in the Electric Reliability Council of Texas market. East Point Energy's move from project developer to independent power producer is part of Equinor's strategy to develop a competitive presence in onshore power, with collaboration with trading unit Danske Commodities to strengthen asset management. Beyond Texas, Equinor is developing four additional battery storage projects in Virginia's PJM power market, with a combined capacity of 80MW/160MWh, expected to be operational in early 2027.

LG Energy Solution has entered into a binding offtake agreement with Smackover Lithium for 8,000 tonnes of battery-quality lithium carbonate annually over the next ten years. Smackover, a joint venture between Standard Lithium, which holds a 55% stake, and Equinor, holding 45%, will supply the material from its South West Arkansas Project in the US. The lithium carbonate will be produced using direct lithium extraction and purification, a more sustainable method. This deal enables LG Energy Solution to build a fully integrated local supply chain for its US battery plants, most of which focus on lithium iron phosphate chemistry. The agreement also helps LG Energy Solution meet non-Prohibited Foreign Entity requirements for cathode materials.

Equinor ASA has purchased 720,516 of its own shares at an average price of NOK 388.0749 per share during the week of August 24-28, 2026, as part of the third tranche of its 2026 share buy-back programme. This tranche, announced on July 22, 2026, runs from July 23 to no later than October 26, 2026. The transactions, executed on the Oslo Stock Exchange, totaled NOK 279,614,171.81 in value. Including these purchases, the accumulated buy-backs under the tranche amount to 3,648,520 shares at an average price of NOK 385.5487, for a total value of NOK 1,406,682,284.31. Following these transactions, Equinor holds 18,103,431 own shares, representing 0.76% of its share capital, including shares under its share savings programme.

BlackRock has agreed to sell a majority stake in the Jessup power plant to Equinor, transferring control of the asset from a BlackRock subsidiary as electricity demand from regional data centers rises. The deal highlights BlackRock's focus on reshaping its infrastructure portfolio around energy assets linked to digital and AI growth, with Equinor becoming the lead owner. BlackRock, a US-based investment manager with a market cap of about $189.7 billion, often reallocates capital across energy assets as power customers seek long-term reliability. For investors, this sale looks like a portfolio reshuffle, freeing balance sheet capacity while maintaining exposure to long-term energy and data center demand through other vehicles. The key datapoint to watch is how BlackRock's reported alternatives and infrastructure assets under management move in upcoming quarterly results, indicating whether capital from deals like Jessup is redirected into higher-fee AI and tokenization-linked platforms.

Equinor ASA, together with Aker BP and Vaar Energi, announced a collaboration to boost exploration on the Norwegian Continental Shelf, targeting underexplored regions for large oil and gas discoveries. The three companies plan to evaluate 20 to 25 exploration projects over the next four to five years, aiming to drill about five high-impact wells annually, with combined drilling costs estimated at $750 million per year, shared equally. Initial activity will focus on the Haltenbanken area in the Norwegian Sea, with potential expansion to other parts of the shelf. Equinor's spokesperson emphasized that near-field exploration alone is insufficient for long-term value creation, and the partnership aims to support Norway's oil and gas industry beyond 2035. Separately, Equinor and Aker BP recently made a gas and condensate discovery at the Linga prospect, with recoverable resources estimated between 0.1 and 2.1 million standard cubic meters of oil equivalent.

Global private investment in nuclear fusion hit a record $4.48 billion in 2025, up 69% from a year earlier, as major energy companies like Eni, Equinor, Chevron, Shell, and Cenovus ramp up their commitments. Eni plans to deploy a commercial fusion power plant in Europe by the early 2040s, building on its investment in Commonwealth Fusion Systems and a $1 billion agreement to buy electricity from the startup's first U.S. plant. Eni is also forming a joint venture with the UK Atomic Energy Authority to develop fuel systems for fusion reactors, targeting a large-scale tritium fuel-cycle facility by 2028. Commonwealth Fusion Systems raised another $1 billion in July, bringing its total funding to $4 billion, and its planned 400-MW ARC facility in Virginia is the first fusion project to apply for grid interconnection. Chevron has backed TAE Technologies and Zap Energy, while Shell invested in Zap's $130 million Series D round, and Cenovus's early bet on General Fusion is moving toward a Nasdaq listing.

Norway has started production from the second stage of the Troll Phase 3 development, accelerating 55 billion cubic meters of natural gas from the Troll West reservoir. Production began on August 22, several months earlier than planned and at a cost tens of millions of dollars below the original estimate of approximately $1.2 billion, according to Equinor. The project does not increase the Troll field's recoverable resources but brings existing gas reserves forward, supporting production through Troll A and the Kollsnes processing plant as output from other mature Norwegian fields declines. The 55 billion cubic meters covered by the project is equivalent to almost two years of French gas demand, and the development could accelerate as much as 7 billion cubic meters in a single year, roughly 6% of Norway's recent annual gas exports. The start-up comes one day after Equinor signed a 15-year agreement to supply Germany's Uniper with more than 30 terawatt-hours, or approximately 2.8 billion cubic meters, of gas annually from 2027.

Equinor hopes to make a "pretty big" oil discovery offshore Namibia, the global exploration hotspot it has just entered, a senior company official said on Tuesday. Equinor hopes that the Petroleum Exploration License 90, or PEL 90, offshore Namibia could hold a big discovery similar to those TotalEnergies and Galp have made in recent years in the same Orange basin, Philippe Mathieu, Executive Vice President, Exploration & Production International, at Equinor, told reporters on the sidelines of an energy conference in Norway's city of Stavanger. A week ago, the Norwegian oil and gas major entered the Namibian exploration rush by signing an agreement with Harmattan Energy Limited, a Chevron subsidiary in Namibia, to buy a 17.4% participating interest in Petroleum Exploration License 90 in the Orange Basin offshore Namibia. The deal with the U.S. supermajor marks Equinor's entry into Namibia, and the license provides access to a drill-ready prospect scheduled for testing in 2026, the Norwegian company said last week. Equinor is the latest international oil major to venture into the Namibia exploration rush, which has seen several big discoveries by TotalEnergies, Galp, and Shell in recent years.

The global solar energy market is projected to nearly double from $492.7 billion in 2025 to $974.7 billion by 2031, according to a report by BCC Research. Growth is driven by declining costs, supportive government policies, and integration with electric vehicle infrastructure, with Asia-Pacific leading the market. Separately, Hyundai Engineering & Construction rose 14.6% to close at ₩121,000, while Chroma ATE fell 5.3% to NT$1,960.00. Equinor formed a strategic exploration collaboration with Aker BP and Vår Energi targeting high-impact opportunities on the Norwegian continental shelf over the next four to five years.

Equinor, Aker BP and Vår Energi have agreed to form a strategic collaboration focused on exploration activities on the Norwegian Continental Shelf. The companies will pool their expertise, data, technology and exploration resources to pursue selected high-impact prospects, aiming to drill around five high-impact wells per year over the next four to five years, for a total of 20 to 25 exploration targets. The initiative seeks to identify major new discoveries that could lead to new stand-alone field developments, as output from the region is forecast to fall after 2035 without additional discoveries. Separately, Equinor and Aker BP discovered gas and condensate at the Linga prospect in production licence 782 S, with recoverable volumes estimated between 100,000 and 2.1 million standard cubic metres of oil equivalent. Equinor also signed a 15-year natural gas sales agreement with Uniper to deliver more than 30 terawatt-hours, or approximately 2.8 billion cubic metres, annually to Germany from 1 January 2027 to 31 December 2041.

Equinor ASA purchased 721,000 of its own shares from August 17 to August 21, 2026, at an average price of NOK 394.7557 per share, as part of the third tranche of its 2026 share buy-back programme. The tranche was announced on July 22, 2026, and runs from July 23 to no later than October 26, 2026. Including these purchases, Equinor has bought back a total of 2,928,004 shares under the tranche at an average price of NOK 384.9271, for a total transaction value of NOK 1,127,068,112.50. Following the transactions, Equinor owns 17,382,915 own shares, corresponding to 0.73% of its share capital, or 6,462,979 shares excluding those under its share savings programme, equal to 0.27% of share capital.

Equinor and Uniper have signed a 15-year natural gas supply agreement securing long-term deliveries to Germany. The deal locks in more than 30 terawatt hours of annual gas deliveries from 2027 to 2041, reinforcing Equinor's role as a key supplier to European energy markets. The companies are also exploring the sale of sustainability-linked attributes related to the supplied gas. The agreement links Equinor's upstream gas position on the Norwegian continental shelf with long-dated, contracted demand in its largest gas market.

Equinor has joined Aker BP and Vår Energi in a new exploration collaboration on the Norwegian continental shelf, targeting 20 to 25 higher risk, high impact prospects over the next few years. The announcement comes as Equinor's share price stands at NOK394.8, with an 11.75% return over the past 90 days and a 63.41% year-to-date gain. The most followed valuation narrative puts Equinor's fair value at NOK349.12, suggesting the stock is 13.1% overvalued, while its current P/E of 11.1x sits below the European Oil and Gas industry average of 14.7x.

Equinor and Aker BP have made a gas and condensate discovery close to the operating Balder field in the North Sea, the Norwegian Offshore Directorate said on Monday. The exploration well was drilled in a production license 16 kilometers northwest of the Balder field and 205 kilometers west of Stavanger. Preliminary estimates indicate the discovery holds between 0.1 and 2.1 million standard cubic meters of recoverable oil equivalent. The licensees are reviewing the result and other wells in the license to consider further exploration potential. Norway remains Europe's largest gas supplier, and Equinor plans to drill 20 to 30 exploration wells annually to sustain production through 2035.

Emerson Electric Co. has entered a 13-year strategic collaboration with Equinor ASA to supply measurement technologies and services across the energy company's global offshore and onshore operations. The frame agreement, including options, expands the companies' existing automation partnership and supports Equinor's efforts to improve production, reliability and efficiency across its energy assets. Emerson will provide measurement instrumentation, analytical technologies and lifecycle services to help Equinor accelerate project development, extend field life and improve resource recovery. The partnership aims to standardize operations across Equinor's global assets and includes joint work on technology innovation and digital operations. Emerson said the expanded partnership will support Equinor's Norwegian Continental Shelf 2035 initiatives.

Oil prices are approaching $100 per barrel as US President Trump's 'Economic D-Day' campaign against Iran escalates geopolitical risk and keeps Strait of Hormuz transits in single digits all week. ICE Brent is at $94 per barrel, Asian LNG prices are at $24 per MMBtu, and VLCC freight rates are at exorbitant levels, with upward momentum expected to continue through August. Trump threatened sweeping penalties against countries trading with Iran, putting China's Iranian crude imports in the crosshairs, while Iraq approved three-month contracts for alternative export routes and the US now receives over 500,000 barrels per day of Venezuelan crude. Japan's US crude imports surged more than eight-fold to a record 891,000 barrels per day in July, and the Panama Canal Authority will restrict daily transits to 32 by mid-September due to El Niño-driven low water levels.

Equinor has signed a three-year agreement to supply crude oil to Poland's ORLEN from the Johan Sverdrup field. The deal takes effect at the beginning of September and covers annual deliveries of between 5 million and more than 9 million tonnes of crude, with the option for ORLEN to receive other Norwegian Continental Shelf grades. Financial terms were not disclosed. At the upper end of the range, Norwegian crude could account for as much as one-quarter of ORLEN's annual oil requirements. The crude will be supplied to ORLEN refineries in Poland, Lithuania and the Czech Republic.

Equinor ASA announced on 6 May 2026 a cash dividend of USD 0.39 per share for the first quarter of 2026. The Norwegian krone amount was set at NOK 3.6882 per share, based on an average Norges Bank USDNOK fixing rate of 9.4568 over the seven business days around the record date of 14 August 2026. The dividend will be paid on 27 August 2026 to shareholders on Oslo Børs and to holders of American Depositary Receipts on the New York Stock Exchange.

Equinor ASA purchased 415,000 of its own shares on the Oslo Stock Exchange on 14 August 2026 at an average price of NOK 382.7682 per share, for a total transaction value of NOK 158,848,803. The buy-back is part of a programme announced on 4 February 2026, running from 13 February 2026 to 15 January 2027, with a total purchase amount of NOK 1,971,000,000 and a maximum of 19,600,000 shares. Under the programme, up to 7,920,000 shares can be acquired from 13 February 2026 to 15 May 2026, and up to 11,680,000 shares from 15 May 2026 to 15 January 2027. Including the latest purchase, Equinor has bought back 3,399,081 shares under the programme at a weighted average price of NOK 336.5166 per share, totalling NOK 1,413,847,326. Following these transactions, Equinor owns 16,809,915 own shares, corresponding to 0.70% of its share capital, including shares from previous employee incentive buy-backs and shares to be used to reduce issued share capital.

Equinor ASA has agreed to acquire 87.71% of the Class A shares in the 1,483-megawatt Lackawanna Energy Center in Pennsylvania for $940 million, subject to a potential purchase-price reduction at closing. The gas-fired combined-cycle plant gives Equinor direct exposure to the PJM power market, which serves nearly 70 million consumers across 13 states, and diversifies its revenue beyond traditional oil and gas. The facility began commercial operations in January 2019 and generates nearly 9 terawatt-hours annually, with Invenergy continuing as manager and operator. Lackawanna is located close to Equinor's Appalachian Basin position, which has daily production capacity of more than 1.7 billion cubic feet of natural gas, creating a strategic gas-to-power link. The deal is expected to close subject to regulatory approvals and carries risks tied to power-price volatility and Equinor's non-operating role.

Transocean Ltd. issued its quarterly fleet status report, revealing approximately $292 million in aggregate incremental backlog from new contract fixtures. The fixtures include a two-well extension for the Deepwater Conqueror and a two-well contract with two one-well options for the Deepwater Proteus, both in the U.S. Gulf, a one-well extension for the Deepwater Skyros with Murphy in Ivory Coast, a five-well contract with three one-well options for the Transocean Norge with Harbour Energy in Norway, and a two-well contract with five one-well options for the Transocean Equinox with Santos in Australia. Additionally, Equinor executed a conditional agreement for three harsh environment semisubmersible rigs on the Norwegian shelf, with a total value of approximately $1.0 billion, covering a three-year program for the Transocean Enabler, a two-year program for the Transocean Encourage, and a two-year program for the Transocean Endurance after its return from Australia. As of August 5, 2026, Transocean's total backlog stands at approximately $6.7 billion, excluding the $1.0 billion Equinor backlog pending license partner approvals.

Equinor ASA has purchased 660,000 own shares at an average price of NOK 382.2365 per share between 27 July and 31 July 2026, as part of the third tranche of its 2026 share buy-back programme. The tranche was announced on 22 July 2026 and runs from 23 July to no later than 26 October 2026. Including previously disclosed purchases, total accumulated buy-backs under this tranche now stand at 880,000 shares at an average price of NOK 384.5493. Following these transactions, Equinor holds 15,135,775 own shares, representing 0.63% of its share capital.