Equinor’s Earnings Dive 57% As Oil And Gas Prices Slide ...Middle East

Norway’s energy giant Equinor (NYSE: EQNR) booked 57% lower adjusted earnings in the second quarter compared to the same period of 2022 as oil and natural gas prices slumped from last year’s high levels. Equinor reported on Wednesday adjusted earnings of $7.54 billion for the second quarter of 2023, down by 57% year on year. Net income slumped by 73% to $1.829 billion, while cash flows from operating activities plunged by 78% to $1.857 billion.  The lower earnings and cash flows were largely expected by the market, considering…

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