Equinor Q3 2026 Profit Doubles on Soaring Energy Prices as Production Target Lifted to 4% Growth

Equinor reported a near four-year high in earnings for the third quarter of 2026, with profit roughly doubling as elevated oil and gas prices provided a substantial windfall. The Norwegian energy giant posted adjusted operating income of $12.35 billion and net income of $2.54 billion for the quarter, with adjusted net income of $2.86 billion, or $1.20 per share.

Total equity production reached 2,166 thousand barrels of oil equivalent per day, a 2% increase year over year, and the company highlighted record results from its Mongstad refinery as well as strong Marketing, Midstream and Processing contributions. Cash flow from operations after taxes came in at $8.1 billion for the quarter.

Riding the strong operational performance, Equinor raised its full-year 2026 oil and gas production growth target to approximately 4% compared with 2025, up from its previous guidance of 3%. The company also noted strategic progress during the quarter, including accessing new exploration acreage in Namibia, establishing a collaboration on the Norwegian Continental Shelf, acquiring a stake in a US gas-fired power plant, and advancing the Bay du Nord project in Canada with a new partner.