Equinor Divides Midstream and Processing into Infrastructure and Trading Units by 2027
Equinor will split its Marketing, Midstream and Processing unit into an infrastructure division led by Geir Sørtvedt and a trading division headed by Irene Rummelhoff, targeting completion by early 2027. In 2025 the company posted adjusted operating income of $27.6 billion, net income of $6.43 billion and record production of 2.14 million boe/d.
1. Reorganization Overview
Equinor will replace its Marketing, Midstream and Processing unit with two divisions: an infrastructure division overseeing refineries, pipelines, terminals and storage assets, and a trading division focused on market strategy and commodity arbitrage.
2. Leadership Assignments and Timeline
Geir Sørtvedt will lead the infrastructure division with a mandate to improve operational reliability and integrate with upstream production, while Irene Rummelhoff heads the trading division to leverage data, digital tools and market intelligence. The restructure is planned for completion by early 2027, with reporting adjustments under review.
3. 2025 Financial and Operational Performance
Equinor posted adjusted operating income of $27.6 billion and net income of $6.43 billion in 2025, supported by record production of 2.14 million barrels of oil equivalent per day, $13.1 billion in organic capex and a 14.5% return on capital employed. New projects Johan Castberg and Bacalhau drove growth alongside Johan Sverdrup performance.
4. Strategic Rationale
The split reflects a shift toward a commercially driven model that positions trading as a strategic growth engine while preserving cash-generating midstream assets. It aligns with industry trends of expanded trading capabilities in volatile gas, LNG and power markets and underscores Equinor’s focus on profitability amid slower renewable development.