Equinor’s Q3 2025 adjusted operating income declines as liquids prices fall

Equinor reported adjusted operating income of $6.21bn in the third quarter of 2025 (Q3 2025), a decline of 10% compared to the same period the previous year. The company said the results were influenced by a decline in liquids prices, which were partially mitigated by increased production levels and higher gas prices in the US. Equinor recorded a net loss of $200m in the quarter, while adjusted net income stood at $930m, translating to adjusted earnings per share of $0.37. The company’s net operating in ...