Equinor presents surprisingly lucrative Q2 results

The Norwegian oil company's half-year report reveals a quite noteworthy post-tax profit of USD 646 million made during the Covid-19 pandemic's toughest period.

Photo: Ntb Scanpix/Reuters/Ritzau Scanpix

Equinor's second-quarter interim report was expected to show poorer results. Commodity prices during the period were simply too low due the coronavirus crisis and the initial response from oil exporting countries, analysts broadly agreed.

That the Norwegian oil giant has nonetheless managed to present an adjusted post-tax result of USD 646 million for this year's second quarter thus comes as something of a surpise. For comparison, estimates gathered by the company projected a loss of  USD 237 million.

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