BAKU, Azerbaijan, October 29. Norway’s Equinor company reported net operating income of USD 26.1 billion in the third quarter of 2022, up from USD 9.57 billion in the same period in 2021, Trend reports October 29 with reference to the company.
“Net income was USD 9.37 billion in the quarter, up from USD 1.41 billion in the third quarter of 2021. This is including net impairment reversals of USD 1.09 billion, mainly related to increased expected refinery margins,” reads the report released by the company.
Energy prices remained high in the quarter, and significantly higher than for the third quarter last year. Equinor realized a European gas price which was 60 percent up from already high levels last quarter, while the realized liquids prices were 13 percent lower.
Adjusted earnings for the quarter were USD 24.3 billion, up from USD 9.77 billion in the same quarter last year. Adjusted earnings after tax were USD 6.72 billion, up from USD 2.78 billion in the same period last year. The operational and administrative costs increased due to higher electricity prices, CO2-costs, inflationary pressure, and higher field cost, partially offset by significant currency effects when presenting in US dollar. Equinor delivered strong results from sales and trading, particularly from gas and power, selling to the markets with the highest demand. This is reflected in the results of the MMP segment.
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