What were Equinor's adjusted pre-tax earnings for Q2 2024, and how do they compare to the prior year and analyst expectations?

Equinor's adjusted earnings before tax for the April–June 2024 period rose to $11.48 billion, up from $6.54 billion a year earlier, and were broadly in line with the $11.37 billion predicted by a poll of 17 analysts compiled by Equinor.

How did wartime oil and gas price surges impact Equinor's financial performance and strategic decisions in Q2 2024?

Wartime disruptions in the Middle East lifted global oil and gas prices, driving Equinor's Q2 2024 financial results: its average oil price reached $97.9 per barrel (up from $63 in Q2 2025), and European gas price rose 32% to $15.79 per mmbtu; as a result, the company doubled its share buybacks to return more cash to owners while scaling back renewable energy investments due to weak demand.

Equinor profit soars on wartime oil and gas prices

Jul 21, 2026

Equinor reported a sharp rise in second-quarter adjusted earnings to $11.48 billion, driven by soaring oil and gas prices amid Middle East tensions. The company plans to double share buybacks while maintaining output growth targets despite scaling back renewable investments.

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