Equinor

What Equinor does

Equinor ASA is an integrated international energy company headquartered in Stavanger, Norway, founded in 1972 as Statoil and renamed Equinor in 2018. Listed on the Oslo and New York Stock Exchanges under ticker EQNR since 2001, the Norwegian State retains a 67% majority stake through the Ministry of Trade, Industry and Fisheries. Equinor combines a large-scale oil and gas exploration and production business, a growing integrated power business (offshore wind, solar, hydrogen), a global asset-backed marketing and trading division, and an emerging low-carbon solutions portfolio spanning carbon capture and storage (CCS), direct lithium extraction (DLE), and low-carbon fuels. Core producing assets include the Troll field (supplying ~10% of Europe's gas demand), Johan Sverdrup (~755,000 bbl/day), and a diversified international portfolio across the US, Brazil, Angola, the UK, and Canada; in 2025, equity oil and gas production reached 2,137 mboe/day, with Q1 2026 reaching a record 2,313 mboe/day.

Equinor serves a B2B customer base comprising European utilities and energy buyers, industrial offtakers (fertilizers, chemicals, refining), state-owned national oil and gas companies, and international oil and gas partners across more than 20 countries. Revenue is generated through long-term bilateral contracts (e.g., 5-year gas supply to Eneco/LichtBlick at ~2.2 TWh/year, 15-year LNG offtake to Deepak Fertilizers at ~0.65 mtpa), spot-market trading via global marketing & trading desks, LNG regasification capacity allocations at terminals such as Klaipėda, and direct shuttle-tanker crude deliveries to refineries. Pricing is benchmark-linked (Brent, TTF gas, JKM LNG) rather than list-based. The 2026 Capital Markets Day strategy commits to production growth to 2.3 mboe/day by 2030, an integrated power business exceeding 20 TWh by 2030, ROACE above 15%, doubled 2026 buy-backs to USD 3 billion, and a range-based USD 2-4 billion annual buy-back framework from 2027, funded by projected cumulative free cash flow above USD 40 billion over 2026-2030.

The platform is anchored by proprietary offshore and CCS technology (Hywind Tampen floating wind, Sleipner CCS since 1996, Northern Lights JV), AI/digitalization initiatives that have generated approximately USD 200 million in savings from 2021-2024, autonomous robotics (ANYmal D, ARGOS JIP), and a standardized subsea tie-back development model targeting sub-USD 35/bbl break-evens. With around 24,600 employees, USD 106.5 billion in 2025 total revenues, and a defined 2030 production and capital-return framework, Equinor positions itself as a long-cycle, lower-emission hydrocarbons operator that is selectively building optionality in renewables, CCS, hydrogen, and critical minerals while remaining anchored to Norwegian Continental Shelf cash generation.

Name

Equinor

Legal name

Equinor ASA

Website

https://equinor.com

Company type

Public

Founded year

1972

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Equinor ASA is a Norway-based, state-majority-owned integrated energy company (67% Norwegian state) producing oil and gas (2.1 mboe/day in 2025), building renewable power, CCS, and hydrogen, and serving European utilities, industrial offtakers, and global trading desks across more than 20 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Stavanger

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Oil and gas upstream sales: Equinor produces and sells crude oil, natural gas liquids, and natural gas from operated and partner-operated fields globally. 2025 equity oil and gas production was 2,137 mboe/day, generating net operating income of USD 25,352 million and total revenues and other income of USD 106,462 million in 2025. Mix spans long-term contracts plus spot sales via trading desks.
2. LNG and pipeline gas sales: Long-term LNG supply agreements (e.g., 15-year contract with Deepak Fertilizers at ~0.65 million tonnes per year from Hammerfest LNG; 5-year gas supply to Eneco/LichtBlick at ~2.2 TWh/year) plus pipeline gas exports to Europe, complemented by regasification capacity bookings at terminals such as Klaipėda.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels9 records

Core offering

Equinor is an international integrated energy company that produces and sells crude oil, natural gas, LNG and renewable power from operated and partner-operated fields. Its portfolio spans upstream oil and gas exploration and production on the Norwegian Continental Shelf and internationally (US, Brazil, UK, Angola, Canada), renewable energy generation (offshore wind, onshore wind, solar), carbon capture and storage (Northern Lights JV), direct lithium extraction, bio-methanol, and a global asset-backed marketing and trading operation.

Product overview

Equinor is an international energy company with a portfolio architecture spanning integrated upstream oil and gas, a growing power business, trading and marketing, and low-carbon solutions. The core product is its oil and gas exploration and production business across the Norwegian Continental Shelf (with the Troll field and Johan Sverdrup as flagship assets) and international operations in Brazil, the US, the UK, Angola, and Canada, supplemented by subsea tie-back developments like Ringvei Vest and the TWIN project at Troll. Complementing this is its renewable energy portfolio including offshore wind projects (Hywind Tampen, Empire Wind 1, Bałtyk 2 & 3) and the integrated power business targeting over 20 TWh by 2030. Low-carbon solutions include the Northern Lights carbon capture and storage joint venture (with TotalEnergies and Shell), the Northern Endurance Partnership and Net Zero Teesside Power in the UK, the Smackover Lithium direct lithium extraction joint venture (with Standard Lithium), and bio-methanol supply to Wallenius Wilhelmsen. The platform is anchored by a global marketing and trading operation and supported by Cegal EnergyX software for allocation and logistics across more than 20 countries. Shuttle tanker operations (Eagle Balder) provide critical offshore-to-shore crude transport infrastructure. Equinor also produces long-term scenario analysis through its Energy Perspectives report.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Gas Exploration and Production Equinor's foundational business encompassing upstream oil and gas exploration, development, and production across the Norwegian Continental Shelf and international operations in the US, Brazil, Angola, UK, and Canada. Total equity production of 2,137 mboe/day in 2025, with a production growth target of 2.3 million boe/day by 2030. NCS targets 1.35 million boe/day in 2030 and 1.3 million boe/day in 2035; international portfolio targets 30% growth to 950,000 boe/day by 2030. Sold to European utilities, industrial customers, refiners and trading desks.
• Renewable Energy Generation (Offshore Wind, Onshore Wind, Solar) Renewable energy portfolio including offshore wind projects (Hywind Tampen, Empire Wind 1, Bałtyk 2 and 3, Dogger Bank) and Brazilian onshore wind/solar (Rio Energy, Esquina do Vento). Renewable power generation reached 3.67 TWh (Equinor share) in 2025. The 2026 strategy update dropped the previous 10-12 GW by 2030 target, now estimating 6-7 GW by 2030. Sold to power grids and offtakers.
• Troll Field (North Sea Gas Production) North Sea gas field containing approximately 40% of Norway's total gas reserves and supplying around 10% of Europe's gas needs. Includes the TWIN subsea project (Troll West Increased gas recovery North), a NOK 4 billion development approved in 2026 with partners Petoro, Shell, TotalEnergies, and ConocoPhillips, expected to contribute approximately 11 billion standard cubic metres of gas with production start targeted for 2028. Power from shore enables very low emissions. Sold to European utilities and industrial offtakers.
• Johan Sverdrup (North Sea Oil Field) Equinor-operated oil field in the North Sea, producing approximately 755,000 barrels per day (one-third of Norway's total oil output). Phase 4 development in the northern part of the field based on Tonjer and Geitungen discoveries (combined 20-30 million barrels of oil equivalent), targeting production start in 2029. Sold to European refineries and trading desks.
• Ringvei Vest Subsea Development Large subsea development project linked to the Troll B platform in the Norwegian North Sea, combining seven discoveries (Grosbeak, Swisher, Mulder, Kveikje, Toppand, Røver Sør, Røver Nord) and one prospect (Grønngylt). Estimated 240 million barrels of oil equivalent across 13 wells through six templates, with resources spread across eight licences. DG2 decision planned for end of 2026.
• Northern Lights Carbon Capture and Storage JV Joint venture with TotalEnergies and Shell for cross-border CO2 transport and storage from European emitters. Captures, transports, and stores CO2 in a subsea reservoir 2,500 meters beneath the North Sea floor. Expansion includes four additional 12,000 m³ LCO2 carriers (charters with K Line/MISC and Bernhard Schulte), expected to increase JV transport and storage capacity to over 5 million tonnes of CO2 per year. Sold to European industrial emitters seeking CO2 storage.
• Northern Endurance Partnership and Net Zero Teesside Power UK carbon capture projects in Teesside. NEP is a joint venture of BP, Equinor, and TotalEnergies developing CO2 transport infrastructure to store carbon under the North Sea, targeting up to 4 million tonnes of annual CO2 injection from 2028. NZT Power is a joint venture to build the world's first gas power plant with carbon capture.
• Smackover Lithium (Direct Lithium Extraction) Joint venture between Standard Lithium (55%, operator) and Equinor (45%) developing the South West Arkansas Project for direct lithium extraction (DLE) from Smackover formation brines, designed to produce 22,500 tonnes per annum of battery-quality lithium carbonate. EPCC contract awarded to S&B and wellfield EPCM to Wood Group USA. Final Investment Decision expected in 2026. Sold to battery materials market.
• Hammerfest LNG Facility Norwegian LNG facility in Hammerfest, Norway, serving as the source for Equinor's 15-year LNG supply agreement with Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL) in India. Deliveries starting in 2026 at approximately 0.65 million tonnes annually, primarily for ammonia production.
• Bio-methanol (Low-Carbon Fuel) Equinor's bio-methanol supply product for maritime customers, expanding its low-carbon fuel portfolio as part of the strategy to serve hard-to-abate sectors. Agreed with Wallenius Wilhelmsen in March 2026.
• Natural Gas Supply (B2B European Markets) Equinor's B2B natural gas supply product delivers Norwegian continental shelf gas to European utilities, city gas suppliers, and industrial companies for power generation, district heating, and process heat applications. Recent agreements include 5-year deals with Eneco for Germany (~2.2 TWh annually from April 2026) and Netherlands. Long-term LNG terminal capacity booked at Klaipėda LNG in Lithuania through 2044.
• Marketing and Trading Business Equinor's global asset-backed energy trading division with direct market access. The 2026 strategy expands marketing and trading capabilities in selected markets, aiming to capture additional value from flexible portfolio, long-term position-taking, cross-commodity trading, and advancing digital tools and AI. Adjusted operating income from trading and market optimization expected to increase by 25% to around USD 500 million per quarter by 2030.
• Shuttle Tanker Operations (Eagle Balder) Specialised oil tanker operations including the Eagle Balder, a 277-metre vessel built for AET in 2020 for long-term charter to Equinor, operated by AET and OSM Thome. Operates on the Norwegian and UK continental shelves (North Sea and Barents Sea), running on LNG and recovering VOC gases (evaporated hydrocarbons) as fuel, reducing CO2 emissions by up to 48% compared to equivalent 2008-built vessels. Carries approximately 844,000 barrels of crude oil per cargo.
• Bałtyk 2 and 3 Offshore Wind Farms Offshore wind farms being jointly developed with Polenergia in the Baltic Sea (1,440 MW combined capacity). Construction initiated May 2026 with the first twelve monopile and transition piece foundations installed by Heerema Marine Contractors' Thialf vessel; expected to power ~2 million Polish households when operational in 2028.
• Empire Wind 1 Offshore Wind Project Offshore wind project off New York (816 MW). Secured over USD 3 billion in project financing, reaching financial close at end of December 2024. Estimated total capital expenditure of around USD 5 billion, scheduled commercial operation in 2027, creating over 1,000 jobs and supplying power to 500,000 homes.
• Greater PAJ Offshore Angola Development First cross-block integrated offshore oil development in Angola (Blocks 31 and 31/21) developed by Equinor with Azule Energy and Sonangol E.P. covering approximately 252 million barrels of oil reserves across five offshore fields with production expected to begin in H1 2029. Investment of $5.1 billion.
• Hywind Tampen (Floating Wind Power) World's first floating wind farm powering offshore oil and gas platforms on the Norwegian Continental Shelf, using floating turbines in deep waters unsuitable for traditional fixed-bottom offshore wind.

Quantifiable outcome

• ~30% of Europe's gas demand supplied by Norway (Equinor is largest contributor)
• +8 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability11 records

Feature7 records

Partnerships

27 partnerships are on record, tiered flagship, core and minor.

• Aker BPflagshipStrategic or Co-development PartnerStrategic alliance on the Norwegian Continental Shelf involving asset swap to align ownership interests and accelerate development of oil and gas discoveries. Equinor divested a 19% interest in Ringvei Vest discoveries to Aker BP and increased its stake in Wisting from 35% to 42.5% with Aker BP paying USD 23 million cash. Transactions effective January 1, 2026 and pending government approval, covering the Troll-Fram, Yggdrasil, and Wisting areas through 2035.
• Petoro ASflagshipStrategic or Co-development PartnerNorwegian state-owned partner holding the largest share in Troll field (55.93% in TWIN) and significant stakes in multiple Ringvei Vest subsea tie-back licences; partner in co-developing subsea expansions on the Norwegian Continental Shelf.
• Shell (A/S Norske Shell)flagshipStrategic or Co-development PartnerTroll field partner (8.19% in TWIN), co-owner of Northern Lights LCO2 JV, and partner in Adura Operations joint venture for UK offshore assets (Mariner field 4D seismic survey); Shell-Equinor JV operates Rosebank oil field in UK North Sea.
• TotalEnergies EP Norge ASflagshipStrategic or Co-development PartnerTroll field partner (3.69% in TWIN), co-owner of Northern Lights LCO2 JV, partner in Northern Endurance Partnership (UK CCS), partner in Net Zero Teesside and in ADNOC ARGOS robotics JIP.
• ConocoPhillips Skandinavia AScoreStrategic or Co-development PartnerTroll field partner (1.64% in TWIN); also partner in multiple Norwegian Sea exploration wells completed with Transocean Encourage rig.
• BPflagshipStrategic or Co-development PartnerJoint venture partner with Equinor in Net Zero Teesside Power (world's first gas power plant with carbon capture) and Northern Endurance Partnership (CO2 transport infrastructure targeting up to 4 million tonnes/year injection from 2028); BP announced plans to sell its stakes in 2026.
• Northern Lights JV (Equinor/Shell/TotalEnergies)flagshipStrategic or Co-development PartnerJoint venture for cross-border CO2 transport and storage from Northwest European emitters to subsea reservoirs in Norway; expanding with four 12,000 m3 LCO2 carrier charters (K Line, MISC, MOL, K Line-MISC) increasing transport and storage capacity to over 5 million tonnes of CO2 per year.
• Standard Lithium Ltd (Smackover Lithium JV)coreStrategic or Co-development PartnerJoint venture (Standard Lithium 55% operator, Equinor 45%) developing the South West Arkansas direct lithium extraction project targeting 22,500 tonnes per annum of battery-quality lithium carbonate. EPCC contract awarded to S&B; EPCM wellfield contract to Wood Group USA; FID targeted 2026.
• PolenergiacoreStrategic or Co-development PartnerEquinor and Polenergia are jointly developing the Bałtyk 2 and Bałtyk 3 offshore wind farms in the Baltic Sea (1,440 MW combined). Construction initiated May 2026 with the first twelve monopile and transition piece foundations installed by Heerema's Thialf vessel; expected to power ~2 million Polish households when operational in 2028.
• ADNOC (ARGOS Joint Industry Project)coreStrategic or Co-development PartnerCo-developer (with Petrobras, TotalEnergies, Saft, Taurob) of the energy industry's first heavy-duty operator robot for hazardous environments, capable of operating in temperatures from -20°C to 60°C; targeted for operational deployment by end of 2026.
• PetrobrascoreStrategic or Co-development PartnerCo-developer in ADNOC's ARGOS Joint Industry Project for heavy-duty autonomous robots; also long-term customer via Bacalhau field (Brazil) where Equinor contracted Ocean Installer for subsea work.
• Azule EnergycoreStrategic or Co-development PartnerPartner with Equinor and Sonangol in the $5.1 billion Greater PAJ offshore oil development in Angola (Blocks 31 and 31/21); first cross-block integrated development in Angola covering ~252 million barrels of oil reserves across five offshore fields with production targeted H1 2029.
• Sonangol E.P.coreStrategic or Co-development PartnerCo-partner with Equinor and Azule Energy in the Greater PAJ Project (Angola) covering Blocks 31 and 31/21; FID signed June 2026 for first-half 2029 production start.
• National Gas (UK)coreStrategic or Co-development PartnerCo-developer with Equinor, Centrica and SSE Thermal of a coordinated UK hydrogen network for the Humber region, including Aldbrough Hydrogen Storage, H2H Saltend and Keadby Next Generation Power Station; targeting up to 3 GW hydrogen production supporting chemicals, steel and cement industries.
• CentricacoreStrategic or Co-development PartnerCo-developer with Equinor, National Gas and SSE Thermal of the coordinated UK Humber hydrogen network project.
• SSE ThermalcoreStrategic or Co-development PartnerCo-developer with Equinor, National Gas and Centrica of the coordinated UK Humber hydrogen network project.
• Baker HughescoreTechnology or IntegrationMulti-year contract extensions covering integrated drilling, well services, wireline intervention and intervention technology deployment on the Norwegian Continental Shelf; Baker Hughes to deploy Kantori autonomous well construction solution, TRU-ARMS advanced reservoir mapping services, and PRIME Technology Platform, including new Subsea Services Center of Excellence in Dusavik.
• WorleyminorImplementation/ SI/ Consulting PartnerGlobal engineering and consulting firm providing services across energy, infrastructure, and industrial sectors; active contract with Equinor for subsea fabrication work in the North Sea (alongside other clients such as Holcim for EU/UK Carbon Capture).
• Deepak Fertilizers and Petrochemicals Corporation Ltd (DFPCL)flagshipChannel Partner/ Reseller/ DistributorLong-term LNG offtake agreement (15-year, sourced from Hammerfest LNG) for ~0.65 million tonnes annually, primarily for ammonia production at DFPCL's newly commissioned fertilizer/petrochemical plant in India. Aligns with the India-EFTA Trade and Economic Partnership Agreement (TEPA).
• Eneco (LichtBlick)coreChannel Partner/ Reseller/ Distributor5-year natural gas supply agreement (signed 19 May 2026) covering ~2.2 TWh annually from the Norwegian continental shelf to Eneco's wholly owned German subsidiary LichtBlick, supporting German supply security and lower-emission energy (~9% lower GHG intensity vs alternatives).
• KN Energies (Klaipėda LNG)coreChannel Partner/ Reseller/ DistributorLong-term regasification capacity allocation at Lithuania's Klaipėda LNG terminal covering 8 TWh through 2044 and 12 TWh through 2040; total terminal utilisation reaches approximately 75% of nominal capacity with this allocation.
• Ignitis AB (Lithuania)coreChannel Partner/ Reseller/ DistributorLong-term LNG regasification capacity booking at Klaipėda terminal alongside Equinor ASA's allocation, supporting Lithuanian and regional energy security.
• Latvenergo AS (Latvia)coreChannel Partner/ Reseller/ DistributorLong-term LNG regasification capacity booking at Klaipėda terminal supporting Latvian energy security.
• Gasum Oyj (Finland)minorChannel Partner/ Reseller/ DistributorNew long-term LNG regasification capacity booking at Klaipėda terminal (8 TWh through 2044 plus 12 TWh through 2040); one of five customers in 2033-2044 allocation.
• Naftogaz (Ukraine)minorChannel Partner/ Reseller/ DistributorNew long-term LNG regasification capacity booking at Klaipėda terminal; signals trust in Lithuanian infrastructure for Ukrainian energy security.
• AET Tankers / OSM ThomecoreChannel Partner/ Reseller/ DistributorLong-term charter of shuttle tanker fleet (Eagle Balder, 277 m, 844,000 barrel capacity) operated by OSM Thome on behalf of AET Tankers; uses dynamic positioning and bow-loading to lift crude directly from offshore fields like Gullfaks to European refineries.
• St1 (energy company)minorChannel Partner/ Reseller/ DistributorRefinery customer in Gothenburg; purchased Gullfaks cargo #5000 (~799,091 barrels), the 'champagne of oils' light sweet crude, for processing into petrol, diesel, jet fuel and marine fuel for the Nordic market.

Scale indicators19 records

Recent moves12 records

Expansion highlights7 records

Broad incumbents

• ExxonMobil Corporation: Global super-major integrated oil and gas peer. Comparable on upstream scale, LNG, trading and CCS investments (LaBarge, Baytown), but far broader globally and less Europe-centric than Equinor.
• Chevron Corporation: Global integrated oil and gas super-major. Comparable on capital-return discipline, low-cost upstream portfolio and emerging low-carbon investments; differs in being U.S.-domiciled and without European gas pipeline exposure.

Direct peers

• TotalEnergies SE: Direct NCS partner at Troll and co-owner of Northern Lights JV. Operates an integrated oil/gas/LNG/power/renewables portfolio of comparable scale, making it one of Equinor's closest integrated peer benchmarks in Europe.
• Shell plc: Global integrated oil and gas major and direct NCS partner (Troll, Northern Lights JV, Rosebank, Adura). Operates comparable upstream portfolios, LNG trading, and growing low-carbon/CCS investments, and is Equinor's closest functional competitor across oil, gas, LNG, renewables and CCS.
• BP plc: Former partner in Northern Endurance Partnership and Net Zero Teesside Power, and global integrated oil and gas peer with comparable LNG, trading and offshore wind strategies. Provides a benchmark for European IOC transition strategies and shareholder returns.
• ConocoPhillips: Troll field partner (1.64% in TWIN) and major global pure-play E&P with comparable low-cost, low-emission upstream portfolio. Closely comparable on capital discipline and shareholder return policy.
• Eni S.p.A. European integrated oil and gas major with comparable exploration/production, LNG, renewables (including offshore wind) and CCS initiatives (Ramses in UK, Northern Lights-adjacent). Closely comparable on European gas security positioning and energy transition strategy.
• Aker BP ASA: Norwegian Continental Shelf pure-play E&P and Equinor's strategic alliance partner (Troll-Fram, Yggdrasil, Wisting ringfence). Closest comparable on NCS operating model, cost structure and asset-base composition.

Emerging players

• Ørsted A/S: Global offshore wind leader in which Equinor holds a 10% stake. Comparable on floating and fixed-bottom offshore wind technology and on European renewable power ambitions; differs in being wind-pure-play rather than integrated oil and gas.
• Petoro AS: Norwegian state-owned company managing the State's direct financial interests in NCS oil and gas. Partner in Troll (55.93% in TWIN) and Ringvei Vest; comparable on NCS asset composition though operating model (state asset manager) differs from Equinor's operator role.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/equinorasa
• YouTubeyoutube.com/equinor
• Facebookfacebook.com/Equinor
• LinkedInlinkedin.com/company/equinor
• Instagraminstagram.com/equinor

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments34 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Equinor