Crisis forces Equinor to enact billion-dollar cost-cutting measures

Norway's Equinor launches a billion-dollar action plan to strengthen "financial resilience" toward coronavirus and a plummeting oil price. Among other things, Capex is reduced 20 percent.

Photo: Ntb Scanpix/Reuters/Ritzau Scanpix

by MATHIAS BLÆDEL LORENZEN

The corona crisis and an oil price in free fall is now causing Norway's Equinor to launch an action plan in order to save USD 3 billion, writes the company in a notice to the stock exhange.

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