Equinor Doubles Share Buyback to $3 Billion Under New Plan Targeting Fossil Fuel Growth
By Adam Whittaker
Equinor will spend more money on oil and gas projects in a bid to grow production and increase shareholder returns, including a doubling of its 2026 share buyback to $3 billion.
Equinor said Tuesday that it will target production of 2.3 million barrels of oil equivalent a day by 2030, with production from the Norwegian continental shelf fueling much of the growth.
The Norwegian energy company hopes the plan will help deliver an annual share buyback of between $2 billion to $4 billion from 2027. The actual payment will be dependent on oil and gas prices, as well as macroeconomic conditions and the strength of Equinor's balance sheet.
The company is targeting above 5% annual growth in quarterly cash dividend per share.
In European midday trade, shares were largely unchanged.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
June 16, 2026 06:53 ET (10:53 GMT)
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