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Equinor reports major deficit on bottom line

The Norwegian oil giant increases its negative net result, minimizes dividends to shareholders and more than halves its adjusted result. The worst is still to come, but CEO Eldar Sætre maintains confidence in both assets and the company's gradual transition.

Photo: Jamie Baikie and Michal Wachucik / Equinor ASA

In the weeks approaching Equinor's presentation of its first quarter accounting, preliminary analyst expectations had declined by the day. And this time, the majority of these were not wrong as to where things were going: The result after taxes, coronavirus and oil price drop is in the red.

Equinor lost USD 708 million during the first months of the year, according to its interim report, published Thursday morning.

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