Equinor Delivered Solid Financial Performance in 2024

SEATTLE (Oil Monster): Equinor ASA announced fourth quarter and full year 2024 results. The company delivered solid financial performance during the year. It recorded strong operational performance with stable oil and gas production.

According to a company press release, it delivered adjusted operating income of USD 7.90 billion and USD 2.29 billion after tax in the fourth quarter of 2024. During the quarter, the company reported fourth quarter EPS of $0.63. The revenue for the quarter came at $27.65 billion.

The company anticipates more than 10% growth in oil and gas production from 2024 to 2027. The expected production in 2030 is around 2.2 million boe per day. It expects to generate $23 billion in free cash flow over the next three years. Meanwhile, Equinor has reduced its investments in renewables and low-carbon solutions by 50%, upon comparison with previous year’s outlook. Also, the company has lowered its renewables ambition for 2030.

Anders Opedal, President and CEO of Equinor stated that the company delivered solid financial results and high production through strong operational performance in 2024. Additionally, it is well positioned for further growth and competitive shareholder returns, he added.

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