Equinor Targeted Gas in Q2

Norway’s Equinor saw a 9% drop in its oil production in Q2 versus a year prior at 873,000 b/d and instead focussed on gas production.

• Equinor's Norwegian gas production rose 18% on the year at 767,000 boe/d, partly reflecting regulatory decisions designed to ease Europe's energy crisis.
• Its overall oil and gas production for the quarter was flat compared with a year earlier at 1.84 million b/d of oil equivalent.
• Equinor’s guidance of a 2% increase in oil and gas production in 2022 remains the same.
• Its Norwegian oil production, at 576,000 b/d, dropped less than its overseas production: its US oil production was down 10% at 123,000 b/d and other overseas oil output down 18% at 174,000 b/d.