EQNR · EQNR Q2 FY2026 earnings call record财报电话会记录

“We showed you an improved portfolio delivering production growth of 150,000 bpd to 2030, a growth in cash flow from operations of 30%, and an industry-leading 15% return on capital employed.”

“With this, we expect to deliver over $40 billion in free cash flow towards 2030.”

“Internationally, we took the final investment decision for the Greater PAJ project in Angola, where we expect to generate more than $50 per bbl in cash flow from operations.”

“At our Capital Markets Day, we announced a doubling of the share buyback program for 2026 from $1.5 billion to $3 billion.”

“We follow up this now, for the quarter, the board approved an ordinary cash dividend of $0.39 per share, and a third tranche of share buyback of up to $1.125 billion, including the state's share.”

“Therefore, our guidance of a 3% growth for the full year is now more robust than when we started the year.”

“In our international E&P business, prices increased around 50%, but operating income almost doubled based on production growth of 4% and increased quality in the portfolio.”

“Our net debt ratio decreased to 10.4% this quarter, despite three tax installments paid and the state's share of the buyback from last year booked as a finance debt.”

“We will continue to optimize around the volumes that we have to provide Europe with gas where it is needed the most.”

“If I should mention a few, it is actually Brazil where we intend to drill a few high impact opportunities through 2027 and 2028.”

“First, just on gas, I wondered, Torgrim, if you could just add any perspectives on the demand baseline that you're seeing in Europe currently, perhaps particularly the industry segment, which has tended over the last few years to be a bit more sensitive to price and supply uncertainty.”

“Then, in our Capital Markets Day, we said $6 per bbl towards 2030, and $5.50 per bbl for international.”