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Equinor returns another $3 bn to owners as Q2 profit beats forecast

The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago

equinor
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Equinor lifted its extraordinary dividend, paid as a result of high oil and gas prices, to $0.50 per share for the second and third quarters from $0.20, with the increase corresponding to about $2 billion.

Reuters Oslo
Equinor will return an additional $3 billion to shareholders, the Norwegian oil group said on Wednesday after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine.

The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped natural gas as Russia cut deliveries amid a standoff with the West over the war.

"Equinor has become Europe's most important supplier of energy during this conflict, making it essential that we provide reliable operations," Chief Executive Anders Opedal told a news

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First Published: Jul 27 2022 | 11:24 PM IST

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