Equinor reports higher quarterly profit as oil prices rise

Norwegian energy company Equinor said Wednesday that its net profit rose sharply in the three months to June, helped by higher hydrocarbon prices linked to the war in the Middle East and stronger production.

The company said net profit rose to $4.8 billion in the second quarter, up from $1.3 billion in the same period in 2025. Chief executive Anders Opedal said strong production allowed Equinor to benefit from higher prices and supported cash flow and financial results.

Production increased by three percent from a year earlier to 2.16 million barrels of oil equivalent per day. Equinor said the rise was helped by the ramp-up of three fields in Norwegian waters.

Adjusted operating income, the company's preferred measure of profitability and excluding some exceptional items, rose by 76 percent to nearly $11.48 billion. The figure was slightly above analysts' expectations.

Opedal said Equinor had made progress on priorities intended to increase energy supply, grow cash flows and produce higher returns. He said reliable energy supply was important in an unstable world marked by geopolitical tensions.

The report said Equinor, like European peers including TotalEnergies and BP, is benefiting from the increase in oil prices triggered by the war in the Middle East. It also said Norway, Europe's largest hydrocarbon producer besides Russia, has increased efforts to supply Europe, whose energy vulnerability has been highlighted by the wars in Ukraine and the Middle East.