Equinor criticized for its optimistic oil price projections

Not everyone understands why Norwegian oil giant Equinor works based on a price projection that is incompatible with the Paris agreement.

Photo: Ntb Scanpix/Reuters/Ritzau Scanpix

When Equinor presented its interim report for the second quarter of 2020 on Friday, the Norwegian oil company's results exceeded all analysts' expectations when it booked an adjusted post-tax result of USD 646 million.

Had the company based its price projections on a lower oil price, however, Equinor would have had to book major impairments on the value of its assets.

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