Equinor reported strong financial and operational performance during the first quarter (Q1) of 2025. According to the results, Equinor delivered adjusted operating income of $8.65 billion and $2.25 billion after taxes.

The company reported net operating income of $8.87 billion and net income at $2.63 billion. Adjusted net income was $1.79 billion, leading to adjusted earnings per share of $0.66.

Operationally, Equinor achieved a total equity production of 2,123 million barrels of oil equivalent (mmboe) per day in the first quarter, down from 2,164 mmboe in the same quarter last year.

The company said that the operational performance for most of the fields on the Norwegian Continental Shelf (NCS) is strong, including the Johan Sverdrup and Troll fields. The slight decline is the result of the negative production impact from the shut-in at Sleipner B after the fire in Q4 2024, alongside planned and unplanned maintenance at Hammerfest LNG, Equinor said.

“Equinor delivered strong financial results in Q1. I am pleased to see the good operational performance and solid production capturing higher gas prices. With the current market uncertainties, Equinor’s core objective is safe, stable, and cost-efficient operations and resilience through a strong balance sheet,” said Anders Opedal, President and CEO of Equinor ASA. “We maintain a competitive capital distribution and expect to deliver a total of $9 billion in 2025,” he added.