Equinor: net loss almost doubles to USD2.12bn

(CercleFinance.com) - Equinor has reported Q3 EBIT of -2.
01 billion dollars, down sharply from a year ago (-469 million dollars).

Equinor's net loss virtually doubled between Q3 2019 and Q3 2020, from 1.1 billion dollars to 2.12 billion dollars.

According to Equinor, the decrease is mainly due to lower liquid and gas prices and net write-downs mainly relating to lower price assumptions and negative updates.

However, Equinor says that it is on track to implement its 3 billion dollar plan to strengthen its financial resilience, including a 700-million dollar reduction in operating costs.


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