Equinor’s Q2 earnings show strong momentum as they hit production targets, boost cash flow 30%, and slash break-even costs by $10/barrel. New tie-back projects in Norway and final investment in Angola’s Greater PAJ drive growth, while safety remains top priority despite a slight uptick in incidents. Production rose 3% YoY to 2.165 million barrels/day, fueled by Johan Castberg and international wins in UK and Brazil. Financials shine with $11.5B adjusted operating income and $4.8B net income; cash flow at $13.7B YTD. They’re doubling their 2026 buyback to $3B and approving a 39-cent dividend. Guided for full-year stability, Equinor aims to sustain 15% ROCE across the decade.
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