Equinor Profit Doubles on Higher Energy Prices
Equinor reported its strongest quarterly profit in almost four years as soaring oil and gas prices boosted earnings. The Norwegian energy group also raised its full year production target following strong third quarter output.
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Equinor ASA posted a third-quarter adjusted earnings before tax of $12.4B, doubling from $6.2B a year earlier amid soaring oil and gas prices. The profit beats the $12.19B predicted by analysts and marks the highest quarterly result since late 2022. The strong performance prompted the Norway-based energy group to raise its full-year output target.
