Equinor ASA Q4 Earnings Call Highlights

On costs, management said it aims for a 10% reduction in OpEx and SG&A in 2026. Reitan clarified on the call that the reported decline is significantly influenced by structural changes including the divestment of Peregrino and the establishment of Adura (which will be equity-accounted), while underlying cost development is expected to be flat despite inflation and production growth. He also said Equinor reduced renewables OpEx and SG&A by 27% in 2025, primarily by lowering early-phase costs.Equinor guided t ...