Equinor has signed a five-year gas supply deal with Netherlands‐based Eneco, securing steady deliveries to the Dutch market from 2026 through 2031. Under the agreement, Equinor will provide up to 1.2 billion cubic meters of natural gas annually, sourced from its European production portfolio. The contract strengthens Equinor’s foothold in northwestern Europe and supports Eneco’s transition plans by ensuring long-term access to stable gas volumes, while diversifying Equinor’s offtake base beyond its traditional customers in Germany and the UK.

Equinor completed the sale of its onshore Vaca Muerta assets in Argentina to Vista Energy for USD 1.1 billion. The divestment, finalised in January 2026, allows Equinor to redeploy capital toward higher-margin projects and maintain offshore exposure in the country. Proceeds are earmarked to strengthen the company’s balance sheet and fund organic capital expenditure reductions of USD 4 billion in 2026/27. Vista Energy gains operated interests in key unconventional gas and condensate plays, while Equinor retains its offshore licenses in the Malvinas Basin and adjacent blocks.

Equinor reported adjusted operating income of USD 6.20 billion for Q4 2025 and USD 25.4 billion for the full year. Adjusted net income reached USD 2.04 billion in the quarter, corresponding to adjusted earnings per share of USD 0.81. Production averaged 2,198 mboe/d in Q4 (up 6% year-on-year) and 2,137 mboe/d for 2025 (up 3.4%). The company generated USD 9.55 billion of operating cash flow before taxes in the quarter and paid USD 5.96 billion in NCS tax instalments. Net debt to capital employed stood at 17.8% at year-end, reflecting disciplined portfolio high-grading and cost controls.

Equinor’s board has initiated the first tranche of its 2026 share buy-back programme, authorising up to USD 375 million in purchases (including USD 123.75 million in open-market transactions) between February 5 and March 30. The programme, part of a broader USD 1.5 billion repurchase plan, is designed to reduce issued share capital and enhance per-share cash flow metrics. Shares acquired will be cancelled upon shareholder approval at the May 2026 annual general meeting. The buy-back framework remains subject to market conditions, board authorisations and an agreement with the Norwegian State to maintain its 67% holding.