Equinor Q2 Profit Down 31%, Empire Wind Hit

Equinor ASA's adjusted net income for the second quarter of 2025 fell 31% year-on-year to $1.67 billion, reflecting weaker oil prices despite strong gas prices and higher production. Adjusted operating income after tax declined to $1.74 billion, below analyst forecasts. The company recorded a $955 million impairment on its Empire Wind project. Production increased to 2.1 million barrels of oil equivalent per day, supported by new Norwegian fields, though offset by maintenance and a prolonged LNG outage. Equinor maintained its quarterly dividend and share buyback program, reaffirming a $9 billion capital return to shareholders for 2025 and keeping its 4% production growth target. The share price has lagged the broader European energy sector amid volatile commodity prices.