Equinor ASA more than doubled its quarterly earnings and confirmed share buybacks, driven by higher energy prices and tax breaks in its home market.
Norway’s largest oil and gas producer benefited from robust production, cost reductions and favorable fiscal support to recover from last year’s slump. However, earnings were slightly below market expectations and Equinor’s shares fell.
Increased cash flow has allowed it to grow investor returns, with the company confirming $ 300 million share buybacks through September while increasing low-carbon spending. That has helped bring the share price back to pre-pandemic levels.
“We have solid results …