olivLaw · US equity research
Equinor ASA EQNR
Petroleum Refining · SIC 2911 · Vertical: Petroleum Refining (SIC 2911)
Equinor ASA is an integrated energy company headquartered in Norway that produces oil and gas, trades energy and invests in renewable power. The company operates in more than 20 countries, and its segment structure, from production to trading, explains both its revenue mix and the risks it faces now.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Equinor ASA (EQNR) stock was 42.80 USD (−6.20% on the day), with market capitalisation 107.0 bn USD, P/E 22.1 on diluted EPS of 1.94 USD over the last 12 months, dividend yield 3.46%, beta -0.04, 52-week range 22.41–48.82 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.8
- weak (30–45)
- Bollinger (20, 2)
- 42.36 – 49.48
- in the lower half of the band · %B 0.06 · band width 15.5%
- SMA 50 / 200
- 44.18 / 37.88
- mixed trend
- MACD (12, 26, 9)
- 0.61 / 1.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.1% | −1.1% | +2.2 pp | — |
| 3 months | +12.2% | −0.5% | +12.7 pp | — |
| 6 months | +12.5% | +4.4% | +8.2 pp | — |
| Year to date | +81.1% | +12.3% | +68.8 pp | — |
| 1 year | +78.6% | +13.5% | +65.0 pp | +46.0% |
| 3 years | +29.1% | +76.4% | −47.3 pp | +83.1% |
| 5 years | +62.9% | +63.7% | −0.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 88 percentile of its own 8-quarter history (min 4.0, median 9.7, max 36.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 79.6 bn | 64.4 bn | 45.8 bn | 90.9 bn | 150.8 bn | 107.2 bn | 103.8 bn | 106.5 bn |
| Revenue YoY | +30.1% | −19.1% | −28.8% | +98.4% | +65.9% | −28.9% | −3.2% | +2.6% |
| Net income | 7.5 bn | 1.8 bn | -5.5 bn | 8.6 bn | 28.7 bn | 11.9 bn | 8.8 bn | 5.0 bn |
| Net income YoY | +64.2% | −75.5% | −399.0% | unavailable | +235.7% | −58.7% | −25.9% | −42.7% |
| Diluted EPS | 2.27 | 0.55 | -1.69 | 2.63 | 9.03 | 3.93 | 3.11 | 1.94 |
| Diluted EPS YoY | +62.1% | −75.8% | −407.3% | unavailable | +243.3% | −56.5% | −20.9% | −37.6% |
| net % | 9.5% | 2.9% | -12.0% | 9.4% | 19.1% | 11.1% | 8.5% | 4.7% |
| Free cash flow | 8.3 bn | 3.5 bn | 1.9 bn | 20.8 bn | 26.4 bn | 18.7 bn | 7.3 bn | 6.0 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.0 bn USD
- Financial debt
- 26.1 bn USD
- Net debt
- 21.1 bn USD
- Equity
- 40.5 bn USD
- Total assets
- 131.7 bn USD
- Debt / equity
- 0.64x
- Current ratio
- unavailable
- ROE
- 12.2%
- ROA
- 3.8%
- FCF margin
- 5.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 45.8 bn | 90.9 bn | 150.8 bn | 107.2 bn | 103.8 bn | 106.5 bn | SEC (XBRL)· 19 Mar 2026verified |
| Cost of revenue | 21.0 bn | 35.2 bn | 53.8 bn | 48.2 bn | 50.0 bn | 55.2 bn | SEC (XBRL)· 19 Mar 2026verified |
| Gross profit | 24.8 bn ≈ | 55.8 bn ≈ | 97.0 bn ≈ | 59.0 bn ≈ | 53.7 bn ≈ | 51.3 bn ≈ | SEC (XBRL)· 19 Mar 2026derived |
| Research & development | 254.0 m | 291.0 m | 308.0 m | 311.0 m | 348.0 m | 352.0 m | SEC (XBRL)· 19 Mar 2026verified |
| Operating income | -3.4 bn | 33.7 bn | 78.8 bn | 35.8 bn | 30.9 bn | 25.4 bn | SEC (XBRL)· 19 Mar 2026verified |
| Depreciation & amortisation | 9.5 bn | 10.4 bn | 8.9 bn | 9.4 bn | 9.7 bn | 9.8 bn | SEC (XBRL)· 19 Mar 2026verified |
| EBITDA | 6.1 bn ≈ | 44.1 bn ≈ | 87.7 bn ≈ | 45.1 bn ≈ | 40.6 bn ≈ | 35.2 bn ≈ | SEC (XBRL)· 19 Mar 2026derived |
| Pre-tax income | -4.3 bn | 31.6 bn | 78.6 bn | 37.9 bn | 31.0 bn | 25.1 bn | SEC (XBRL)· 19 Mar 2026verified |
| Income tax | 1.2 bn | 23.0 bn | 49.9 bn | 26.0 bn | 22.2 bn | 20.0 bn | SEC (XBRL)· 19 Mar 2026verified |
| Net income | -5.5 bn | 8.6 bn | 28.7 bn | 11.9 bn | 8.8 bn | 5.0 bn | SEC (XBRL)· 19 Mar 2026verified |
| Diluted EPS | -1.69 | 2.63 | 9.03 | 3.93 | 3.11 | 1.94 | SEC (XBRL)· 19 Mar 2026verified |
| Weighted average diluted shares | — | — | 3.2 bn | 3.0 bn | 2.8 bn | 2.6 bn | SEC (XBRL)· 19 Mar 2026verified |
| Dividend per share | 0.56 | 0.63 | 2.40 | 3.60 | 2.80 | 1.48 | SEC (XBRL)· 19 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 6.8 bn | 14.0 bn | 9.5 bn | 8.1 bn | 5.9 bn | 5.0 bn | SEC (XBRL)· 19 Mar 2026verified |
| Inventories | 3.1 bn | 3.4 bn | 5.2 bn | 3.8 bn | 4.0 bn | 3.3 bn | SEC (XBRL)· 19 Mar 2026verified |
| Current assets | 30.8 bn | 61.8 bn | 77.2 bn | 61.0 bn | — | — | SEC (XBRL)· 21 Mar 2024verified |
| Property, plant & equipment, net | 68.5 bn | 62.1 bn | 56.5 bn | 58.8 bn | — | — | SEC (XBRL)· 21 Mar 2024verified |
| Total assets | 124.8 bn | 147.1 bn | 158.0 bn | 143.6 bn | 131.1 bn | 131.7 bn | SEC (XBRL)· 19 Mar 2026verified |
| Accounts payable | — | — | — | 9.6 bn | 11.1 bn | 9.7 bn | SEC (XBRL)· 19 Mar 2026verified |
| Short-term debt | 2.0 bn | 250.0 m | 2.5 bn | 2.4 bn | 2.2 bn | 2.3 bn | SEC (XBRL)· 19 Mar 2026verified |
| Long-term debt | 29.1 bn | 27.4 bn | 24.1 bn | 22.2 bn | 19.4 bn | 23.8 bn | SEC (XBRL)· 19 Mar 2026verified |
| Current liabilities | 19.5 bn | 39.0 bn | 43.5 bn | 35.7 bn | — | — | SEC (XBRL)· 21 Mar 2024verified |
| Total liabilities | 90.9 bn | 108.1 bn | 104.0 bn | 95.1 bn | 88.8 bn | 91.2 bn | SEC (XBRL)· 19 Mar 2026verified |
| Equity | 33.9 bn | 39.0 bn | 54.0 bn | 48.5 bn | 42.4 bn | 40.5 bn | SEC (XBRL)· 19 Mar 2026verified |
| Shares outstanding at year end | 3.2 bn | 3.2 bn | 3.1 bn | 2.9 bn | 2.9 bn | 2.5 bn | SEC (XBRL)· 19 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 10.4 bn | 28.8 bn | 35.1 bn | 29.3 bn | 19.5 bn | 20.0 bn | SEC (XBRL)· 19 Mar 2026verified |
| Capex | 8.5 bn | 8.0 bn | 8.8 bn | 10.6 bn | 12.2 bn | 14.0 bn | SEC (XBRL)· 19 Mar 2026verified |
| Free cash flow | 1.9 bn ≈ | 20.8 bn ≈ | 26.4 bn ≈ | 18.7 bn ≈ | 7.3 bn ≈ | 6.0 bn ≈ | SEC (XBRL)· 19 Mar 2026derived |
| Investing cash flow | -12.1 bn | -16.2 bn | -15.9 bn | -12.4 bn | -3.5 bn | -9.6 bn | SEC (XBRL)· 19 Mar 2026verified |
| Financing cash flow | 3.0 bn | -4.8 bn | -15.4 bn | -18.1 bn | -17.7 bn | -11.5 bn | SEC (XBRL)· 19 Mar 2026verified |
| Dividends paid | 2.3 bn | 1.8 bn | 5.4 bn | 10.9 bn | 8.6 bn | 4.8 bn | SEC (XBRL)· 19 Mar 2026verified |
| Share repurchases | 1.1 bn | 321.0 m | 3.3 bn | 5.6 bn | 6.0 bn | 5.9 bn | SEC (XBRL)· 19 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 50 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 107.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation63
- Returns83
- Quality66
- Balance sheet25
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 15.97 – 78.07 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA60.46 – 78.07 (Mid 71.05)4 companies used · median multiple 5.6x · quartiles 4.9x – 6.1xCVI, DK, MPC, VLO
- Peers: P/E15.97 – 39.09 (Mid 33.40)10 companies used · median multiple 17.2x · quartiles 8.2x – 20.1xCOP, CVI, CVX, DK, MPC, PBF, PSX, SUNC, VLO, XOM
- Dividend discount (DDM)19.45 – 26.16 (Mid 22.31)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 50/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 35.6% | 57 (vs peers) | 12% |
| Net margin · Quality | 4.7% | 47 (vs peers) | 7% |
| FCF conversion · Quality | 118.5% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -11.0% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -40.1% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 0.6x | 25 (vs peers) | 12% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 22.1x | 20 (vs peers) | 12% |
| EV/EBITDA · Valuation | 3.6x | 100 (vs peers) | 12% |
| FCF yield · Valuation | 5.6% | 70 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 10.0% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 80.2% | 57 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial25/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality66/100 · 3/3 factors with a value
- Returns83/100 · 2/2 factors with a value
- Valuation63/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
EQUINOR ASA (EQNR). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 106.5 bn USD in 2025; YoY growth 2.6%; net margin 4.7%; ROE 12.2%; net debt/EBITDA 0.6x.
The estimated value range is 19.45–39.09 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 33.40 USD, the price of 42.80 USD leaves a potential of -22.0% (value / price − 1) and a margin of safety of -28.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 50/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 118.5%
- EV/EBITDA: 3.6x
- Shareholder yield (distributions): 10.0%
What contradicts it
- Revenue CAGR 3Y: -11.0%
- EPS CAGR 3Y: -40.1%
- Net debt / EBITDA: 0.6x
- P/E (TTM): 22.1x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Interest coverage, Current ratio.
Versus the vertical median
Petroleum Refining (SIC 2911) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| XOMExxonMobil Holdings Corporation | 701.6 bn | 27.7 | 9.8% | 7.6% | −5.0% | +46% / +65% |
| CVXChevron Corp | 428.7 bn | 20.8 | 12.2% | 9.6% | −6.8% | +44% / +51% |
| COPConocoPhillips | 164.5 bn | 18.1 | 14.2% | 14.7% | +7.7% | +54% / +18% |
| EQNREquinor Asa | 107.0 bn | 22.1 | 12.2% | 4.7% | +2.6% | +79% / +29% |
| MPCMarathon Petroleum Corporation | 106.9 bn | 7.7 | 72.6% | 8.4% | −4.4% | +103% / +163% |
| VLOValero Energy Corp | 101.9 bn | 8.2 | 50.1% | 8.4% | −5.5% | +107% / +191% |
| PSXPhillips 66 | 101.3 bn | 8.3 | 41.1% | 7.5% | −7.5% | +90% / +101% |
| YPFYPF Sociedad Anonima | 16.4 bn | — | -7.4% | -4.5% | −4.4% | +13% / +151% |
| CVICvr Energy, Inc | 4.3 bn | 16.3 | 27.5% | 2.7% | −5.9% | +25% / +35% |
| IEPIcahn Enterprises L.P. | 4.0 bn | — | — | -9.4% | −3.6% | −34% / −68% |
| DKDelek Us Holdings, Inc. | 4.0 bn | 18.2 | 62.6% | 1.9% | −9.5% | +69% / +141% |
| CLMTCalumet, Inc. | 3.8 bn | — | — | -3.0% | −1.2% | +126% / +153% |
| SUNCSunococorp LLC | 3.4 bn | 23.8 | — | 0.4% | +11.1% | +26% / unavailable |
| IMOImperial Oil Limited | — | — | 25.2% | 10.9% | −8.6% | +29% / +126% |
| PBFPbf Energy Inc. | — | 3.2 | 41.1% | 7.0% | −11.4% | +111% / +64% |
| SUSuncor Energy Inc | — | — | 13.2% | 11.3% | −4.6% | +61% / +118% |
| BPBp PLC | — | — | 0.1% | 0.0% | −1.1% | +26% / +26% |
| SUNSunoco LP | — | — | — | 2.9% | +11.1% | +15% / +18% |
1- and 3-year price returns: for EQNR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 23.79 Total return -42% · Per year -42% | 42.27 Total return 2% · Per year 2% | 63.97 Total return 54% · Per year 54% |
| 3 years | 18.89 Total return -49% · Per year -20% | 38.15 Total return -1% · Per year -0% | 63.97 Total return 62% · Per year 17% |
| 5 years | 15.00 Total return -55% · Per year -15% | 34.43 Total return -4% · Per year -1% | 63.97 Total return 70% · Per year 11% |
- Exit P/E± 9.54
- Net margin± 6.68
- Annual revenue growth± 6.03
- Annual dilution± 0.56
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Mar 2026; since then the company filed 6-K (03 Nov 2026), 6-K (28 Oct 2026), 6-K (27 Oct 2026).
In brief
Equinor ASA is an integrated energy company headquartered in Norway that produces oil and gas, trades energy and invests in renewable power. The company operates in more than 20 countries, and its segment structure, from production to trading, explains both its revenue mix and the risks it faces now.
SWOT
Strengths
- The company holds a strong position in production on the Norwegian Continental Shelf and an integrated trading portfolio 1.
- The Norwegian State as majority shareholder provides stability and an established regulatory relationship 1.
- Diversification across segments, from production to trading, reduces reliance on a single product 1.
Weaknesses
Opportunities
Risks
- Price volatilityhigh
Oil and gas prices can fall or rise quickly, affecting revenues and operating results 1.
- Impairments in renewableshigh
Impairments linked to US offshore wind projects reduced the REN segment's result in 2025 1.
- State influencemedium
The Norwegian State as shareholder and regulator can influence voting on share issuance and project approvals 1.
- International regulationmedium
Operations in more than 20 countries are subject to different regulatory frameworks, including environmental rules 1.
- Derivative losseslow
Losses on commodity derivatives weighed on the MMP segment result in 2025 1.
Investment thesis
What would need to be true (bull case)
- If gas prices remain high in Europe and production volumes keep growing, group revenues could support results more firmly 1.
- Diversification across segments and commercial integration could cushion shocks from a single commodity price 1.
- If renewable projects reach production, they could open a new long-term revenue source 1.
What would break the thesis
- Lower liquids prices and renewable impairments show that results can be volatile and hard to predict 1.
- If operating and transport costs keep rising, margins could be squeezed in several segments 1.
- State influence over investment and regulatory decisions could limit the company's strategic flexibility 1.
What to watch
- Realised gas prices in Europe and the USQ1 2027
- Operating result of the REN segment and the trend in impairments2027
- Production volumes in E&P Norway and E&P USAnext 10-K
- Result from derivatives and trading in MMP2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Mar 2026; since then the company filed 6-K (03 Nov 2026), 6-K (28 Oct 2026), 6-K (27 Oct 2026).
The business
Equinor ASA was incorporated in 1972 and is a public limited company organised under Norwegian law, with its head office in Stavanger 1. The Norwegian State is the majority shareholder, which shapes both voting outcomes and access to licences on the Norwegian Continental Shelf 1. The core activity remains the exploration and production of hydrocarbons, supplemented by marketing and renewable energy projects.
The company organises its activity into several segments: E&P Norway, E&P International, E&P USA, Midstream, Marketing and Processing (MMP) and Renewables (REN) 1. Gas and oil are marketed jointly with the Norwegian State's volumes under an arrangement set out in an owner's instruction 1. As a result, sold volumes can exceed the company's own net production.
In 2025 the MMP segment generated the largest share of group revenues, while E&P Norway remained the main source of operating income despite a lower average liquids price 1. The company has linked its investment decisions to its energy transition objectives, including offshore wind and other renewable projects 1.
Segments
Market context
The market in which Equinor operates is shaped by oil, gas and power prices, which vary strongly between regions 1. European gas achieved a realised price of 12.20 USD/MMBtu in 2025, while US gas realised 3.07 USD/MMBtu 1. These price gaps directly affect the results of the production and trading segments.
The company describes its market outlook in terms of hydrocarbon supply and demand, but its conclusions rely on external analyst reports and internal estimates that are not independently verified 1. Market developments therefore remain a source of uncertainty for future results.
Trends
- European gas pricestailwind
The realised price of gas in Europe rose in 2025, supporting revenues in MMP and E&P Norway 1. If prices stay elevated, gas results could continue to support the group.
- Lower liquids pricesheadwind
The average liquids price declined in E&P Norway, E&P International and E&P USA in 2025 1. This trend could reduce production revenues if it persists.
- Investment in renewablesmixed
Investment in offshore wind and other renewable projects increased, but was affected by impairments 1. The outcome of these investments remains uncertain.
- Regulation and energy securitymixed
The Norwegian regulatory framework and the State's role as shareholder and regulator can influence licence access and project approvals 1. Political change could alter operating conditions.
Competitive position
The source material indicates that the company's competitive position is assessed using investment analyst reports and independent market studies, without a detailed list of competitors 1. The company operates in an environment where other oil and gas companies compete for licences and markets.
Market share is estimated from the public financial results of market players, so statements about position are partly approximate 1. Differentiation rests on cost, production projects and integrated commercial activity.
- European integrated oil companies
Compete for licences and for gas and LNG markets, a context referenced in the oil and gas market discussion.
- US independent producers
Compete in onshore production, including the Appalachian Basin where E&P USA has expanded its interests.
- Offshore wind developers
Compete on US offshore wind projects, where REN recorded impairments.
- Energy and gas traders
Compete in gas, LNG and crude trading, a central activity for MMP.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Fire Shuts Equinor’s Visund Platform in Norwegian North SeaOil Price · 04 Nov 2026 · EN
- Europe more vulnerable this winter due to gas storage levels — Equinor CEOTASS (RU, EN) · 02 Nov 2026 · EN
- Equinor Doubles Estimate for Major North Sea Gas DiscoveryOil Price · 29 Oct 2026 · EN
- Equinor удвоила оценку запасов газа и конденсата месторождения Afrodite в Северном мореInterfax Russia (RU) · 29 Oct 2026 · RU
- Equinor Raises Oil and Gas Output Forecast as Operating Profit DoublesOil Price · 28 Oct 2026 · EN
- Equinor Profits Triple as Oil and Gas Prices SurgeOil Price · 28 Oct 2026 · EN
- Equinor Finds Up to 10.3 Million Barrels of Oil Equivalent at Gullfaks SouthOil Price · 08 Oct 2026 · EN
- Equinor Finds New Gas at Norway’s 40-Year-Old Gullfaks FieldOil Price · 08 Oct 2026 · EN
- Europe’s Fuel Squeeze Is Turning Into a Q3 Windfall for EquinorOil Price · 07 Oct 2026 · EN
- Equinor Targets 15 Million Tons of LNG as Qatar Exports Stay BlockedOil Price · 16 Sept 2026 · EN
- Equinor plans LNG expansion in early 2030s to meet European and Asian demandCNA (Channel NewsAsia) · 16 Sept 2026 · EN
- Equinor Board Member to Step Down in SeptemberYahoo Finance — News · 27 Aug 2026 · EN
- Equinor Targets 27% International Production Growth by 2030Oil Price · 26 Aug 2026 · EN
- Equinor Targets 27% International Production Growth by 2030Yahoo Finance — News · 26 Aug 2026 · EN
- Equinor Eyes Major Oil Discovery Offshore NamibiaOil Price · 25 Aug 2026 · EN
- Equinor Eyes Major Oil Discovery Offshore NamibiaYahoo Finance — News · 25 Aug 2026 · EN
- Equinor, Aker BP and Vår Energi launch NCS exploration allianceYahoo Finance — News · 25 Aug 2026 · EN
- Equinor and Aker BP Make New North Sea Gas DiscoveryOil Price · 24 Aug 2026 · EN
- Equinor and Aker BP Make New North Sea Gas DiscoveryYahoo Finance — News · 24 Aug 2026 · EN
- Equinor and Uniper Sign 15-Year Gas Supply Deal for GermanyYahoo Finance — News · 24 Aug 2026 · EN
SEC filings
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)28 Oct 2026
- Current report (foreign issuer)28 Oct 2026
- Current report (foreign issuer)28 Oct 2026
- Current report (foreign issuer)28 Oct 2026
- Current report (foreign issuer)27 Oct 2026
- Current report (foreign issuer)20 Oct 2026
- Current report (foreign issuer)20 Oct 2026
- Current report (foreign issuer)13 Oct 2026
- Current report (foreign issuer)06 Oct 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Equinor ASA · 19 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.