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Equinor third quarter 2018 and first nine months results

Equinor reports adjusted earnings of USD 4.8 billion and USD 2.0 billion after tax in the third quarter of 2018. IFRS net operating income was USD 4.6 billion and the IFRS net income was USD 1.7 billion.

The third quarter was characterised by:
• Strong results and cash flow from operations. Net debt ratio reduced to 25.7%
• Reduced organic capex guiding to around USD 10 billion, continued strong cost focus
• Value enhancing transactions to strengthen and sharpen the portfolio

“With solid operational performance and production efficiency, we delivered strong results and cash flow across all segments. We continued to strengthen our balance sheet and reduced our net debt ratio to 25.7 percent in the quarter,” says Eldar Sætre, President and CEO of Equinor ASA. “We have achieved significant cost improvements in recent years, allowing us to capture more value from higher prices. We will continue with a strong cost focus to further strengthen our competitive position.

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