Overview
Equinor ASA is a Norway-based international energy company that produces oil and natural gas and develops renewable power and low-carbon solutions, including CO₂ transportation and storage. The Norwegian continental shelf is the backbone of its operations, while its international oil and gas business includes positions in the United States, Brazil, Angola, the United Kingdom and Canada. Equinor is a major energy supplier to Europe.[1]
Founded by the Norwegian government as Statoil in 1972 to manage Norway’s oil and gas resources, Equinor states its purpose as “Energy for people. Progress for society. Searching for better.” [2][1] It has offices in more than 20 countries and approximately 25,000 employees. Its total revenues and other income were USD 106.5 billion in 2025.[1][3] [S1][S2][P153901887][https://www.equinor.com/about-us][https://www.equinor.com/about-us/our-history][https://www.equinor.com/investors/key-figures]
Products & services
Equinor sells crude oil and condensate, pipeline natural gas and liquefied natural gas (LNG), natural gas liquids, refined petroleum products and electricity. It publishes technical assays for its crude and condensate grades, while its Mongstad refinery turns crude oil and other feedstocks into finished fuels. Its trading portfolio also includes methanol and emissions allowances.[5][6][7]
Its marketing and midstream services encompass buying, selling and trading oil, gas and power, supported by gas processing, pipelines, terminals, storage and shipping. Equinor markets its own production and third-party volumes. In 2024, crude oil accounted for approximately 57.5% of revenue from contracts with customers, natural gas 21.9%, refined products 9.1%, natural gas liquids 7.7% and power 1.9%. These are revenue shares, not production shares.[8][9][10]
Equinor also generates renewable electricity, including from offshore wind. Its Hywind Tampen floating wind farm has 11 turbines and 94.6 MW of capacity and supplies the Snorre and Gullfaks offshore installations. Through the Northern Lights venture, Equinor offers industrial customers CO₂ transport and permanent geological storage: captured CO₂ is shipped in liquid form to a receiving terminal, piped offshore and injected beneath the seabed. Northern Lights’ initial storage capacity is 1.5 million tonnes of CO₂ per year.[11][12] [8][9][13][5][6][7][10][11][12]
Geographic presence
Equinor is headquartered in Stavanger, Norway, and operates in around 30 countries. The Norwegian continental shelf is its principal production area, spanning fields in the North Sea, Norwegian Sea and Barents Sea; it accounted for 67% of Equinor’s equity production in 2024. Producing interests outside Norway include the United States, Brazil, Argentina, Canada, the United Kingdom, Angola, Algeria, Nigeria, Libya and Azerbaijan.[14][15][16][17][18][19][20]
Its largest reported concentrations of non-current assets at year-end 2024 were Norway ($30.0 billion), the United States ($15.6 billion) and Brazil ($11.5 billion). Equinor does not report a comprehensive country-by-country revenue split, but its 2024 revenue disclosure identifies $18.1 billion from European gas and $1.0 billion from North American gas. These are gas revenue categories, not total sales in those regions.[21][13]
Norway also accounted for most of its workforce: 21,881 of a total 25,696 at year-end 2024. The other largest regional groups were the rest of Europe (1,731), South America (1,061) and North America (818).[22] [15][16][17][18][19][20][21][21][21][13][13][22][14]
Business segments
Equinor reports five operating segments. Exploration & Production (E&P) Norway develops and operates oil and gas resources on the Norwegian continental shelf; E&P International covers oil and gas activities outside Norway and the United States; and E&P USA covers its US oil and gas portfolio. Marketing, Midstream & Processing (MMP) markets, trades, transports and processes oil, gas and related products, alongside power trading and low-carbon activities. Renewables develops and operates businesses including offshore wind, solar, hydrogen and energy storage. Equinor reports remaining activities and corporate functions as “Other,” rather than as a sixth operating segment.[23][24][25][26]
On a 2025 adjusted operating income basis, E&P Norway contributed approximately 86% of the group total, E&P International 6%, E&P USA 4% and MMP 6%. Renewables recorded a loss equivalent to approximately 1% of group adjusted operating income; Other also recorded a loss, so the positive shares do not sum to 100%. This earnings measure better reflects the E&P segments’ contribution than third-party revenue alone: much of their production is sold internally to MMP, which records most external sales.[27][28] [23][24][25][26][29][28][30][27]
Company history
Equinor traces its origins to Statoil, established by the Norwegian government in 1972 to develop the country’s oil and gas resources. Production began at the Statfjord A platform in 1979 and at Gullfaks A in 1986, marking major steps in the company’s development on the Norwegian continental shelf.[2][31][32]
Statoil was partially privatised and listed on the Oslo and New York stock exchanges in 2001. In 2007, it merged with Norsk Hydro’s oil and gas activities to form StatoilHydro.[33][34] The company later expanded into offshore wind; its Hywind Scotland project began generating electricity in 2017 as the world’s first floating wind farm. In 2018, Statoil ASA changed its name to Equinor ASA, reflecting its broader energy activities.[35][36] [2][31][32][33][34][35][36]
Sources
- www.equinor.com[1]
- www.equinor.com[2]
- www.equinor.com[3]
- EQUINOR ASA — Full financial report (2025 Y)[4]
- www.equinor.com[5]
- www.equinor.com[6]
- www.equinor.com[7]
- EQUINOR — Full financial report (2024 Y)
- www.equinor.com[10]
- www.equinor.com[11]
- www.equinor.com[12]
- www.equinor.com[14]
- EQUINOR ASA — Full financial report (2024 Y)
- EQUINOR — Full financial report (2025 Y)
- www.sec.gov[27]
- www.equinor.com[31]
- www.equinor.com[32]
- www.equinor.com[33]
- www.equinor.com[34]
- www.equinor.com[35]
- www.equinor.com[36]
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