Equinor doubles buybacks to $3bn, scraps 2030 renewables target
EQNR•Equinor announced a $3 billion share buyback for 2026 and a $2–4 billion annual buyback framework from 2027, targeting 2.3 million boe/d production by 2030, 30% cash flow growth and over 15% ROACE. It also scrapped its 2030 renewable capacity target and cut investment in clean energy.
1. Capital Markets Day Highlights
Equinor unveiled a $3 billion share repurchase for 2026 and introduced a predictable $2–4 billion annual buyback framework from 2027, reinforcing its commitment to returning capital. The company set targets to boost production to 2.3 million barrels of oil equivalent per day by 2030, achieve 30% cash flow growth and sustain annual ROACE above 15%, while growing quarterly dividends over 5% each year.
2. Renewable Energy Strategy Update
In its strategy revision, Equinor removed its target for installed renewable capacity by 2030 and reduced planned investments in clean energy. The shift signals a reallocation of capital toward core oil and gas operations and shareholder returns, reflecting revised priorities amid market and regulatory dynamics.
