Equinor shares rose 2.74 percent on Wednesday after the energy company's free cash flow exceeded analyst estimates by 6 percent in the second quarter, building on a near-doubling of profit reported earlier in the day.
The company's debt ratio fell to 10.4 percent from 15.3 percent at the end of the first quarter, Equinor said. The state-backed producer committed to $3 billion in share buybacks for 2026, with annual repurchases of $2 billion to $4 billion planned from 2027 onward. Brent crude averaged $104.50 per barrel in the quarter, up 54 percent year-over-year, and traded at $93.18 on Wednesday.
Elsewhere in Norway's oil sector, Vår Energi reported pre-tax earnings of $2.42 billion for the quarter after acquiring Bluenord to become Europe's largest independent oil and gas producer. Meanwhile, British inflation eased to 2.6 percent in June.