Equinor has reported net income of $3.1bn for the first quarter of 2026 (Q1 2026), an 18% increase from $2.6bn in the same period of the previous year.
Adjusted operating income for the Norwegian energy company was $9.7bn, reflecting a 13% year-over-year (YoY) increase from $8.6bn in Q1 2025.
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Basic earnings per share (EPS) rose to $1.24 from $0.97, while diluted EPS also increased to $1.24 from $0.96.
Net operating income for the quarter was $8.78bn, down by 1% from $8.87bn in the prior-year period.
The company’s total revenues and other income for the quarter amounted to $27.8bn, a decrease of 7% compared to $29.9bn in Q1 2025.
Cash flow from operations after taxes paid was $6.01bn, a decline of 19% from $7.39bn in Q1 2025.
Equinor president and CEO Anders Opedal said: “This quarter, we deliver exceptional operational performance and record‑high production. Combined with higher prices, we present strong financial results.
“Heightened geopolitical tension continues to disrupt energy flows and commodity prices. In such volatile markets, continued high production from the Norwegian Continental Shelf [NCS] reinforces Equinor’s role as a trusted energy partner to Europe.”
Equinor’s total equity production in the reported quarter reached 2.31 million barrels of oil equivalent per day (mboe/d), a 9% increase from 2.12mboe/d in the same period last year.
On the NCS, production rose by 10% compared to Q1 2025, driven by output from Johan Castberg, Halten East and Verdande.
The increase was further supported by new wells, although it was partially offset by natural declines across several fields.
Internationally, production gains were noted from the Adura field in the UK and the Bacalhau field in Brazil, compared to the same period in 2025.
However, these gains were partially counterbalanced by portfolio adjustments, operational challenges at Roncador in Brazil, and natural declines.
In the US, the portfolio achieved record production levels for the quarter, said Equinor. The growth in this geography was fuelled by increased gas production from the Appalachia onshore assets and enhanced offshore production from new wells.
On the NCS, Equinor made seven new oil and gas discoveries during the reported quarter. The company also engaged in exploration activities across 11 offshore wells, successfully completing nine of them.
On the international front, Equinor capitalised on value by divesting non-operated onshore assets in Argentina. Additionally, drilling commenced at the Raia gas field in Brazil.
