Equinor, a Norwegian oil and gas producer, reported annual profits of £9.4 billion, surpassing expectations in the fourth quarter of 2023.
Despite a slight dip in operating profit compared to the previous year, Equinor’s adjusted earnings before tax for October-December stood at $8.6 billion (£6.8bn), exceeding analyst predictions of $8.4 billion (£6.6bn).
This performance, however, comes against a backdrop of lower energy prices.
Chief Executive Officer Anders Opedal said in a statement: “We expect to grow our cash flow and sustain competitive returns.”
