Equinor Q3 2025 Earnings Dip on Lower Oil Prices Despite Strong Production Growth

SEATTLE (Oil Monster): Norwegian energy giant Equinor ASA reported its financial results for the third quarter of 2025, posting lower earnings as weaker oil prices weighed on performance and the results fell short of market expectations.

The company posted an adjusted operating income of $6.21 billion and an adjusted operating income after tax of $1.51 billion for the quarter. Its net operating income came in at $5.27 billion, while it reported a net loss of $0.20 billion. In addition, adjusted net income was $0.93 billion, translating to adjusted earnings per share of $0.37.

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Despite the earnings decline, Equinor achieved notable production growth, with total equity production averaging 2,130 mboe per day, a 7% increase from 1,984 mboe per day during the same quarter in 2024. The growth was primarily driven by strong performance from high-yielding assets and new fields coming online across the Norwegian continental shelf.

Equinor’s operating activities continued to generate robust cash flows, with cash flow from operations after taxes paid reaching $5.33 billion. Reflecting its continued confidence in long-term growth, the company’s board of directors declared a cash dividend of $0.37 per share for the quarter.

Commenting on the results, Anders Opedal, President and CEO of Equinor, stated that the company delivered strong operational performance in Q3, emphasizing that production increases were supported by new developments. He highlighted the start of production at the Bacalhau offshore field, which is expected to play a key role in enhancing Equinor’s earnings potential toward 2030.