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Equinor Q2 Net Profit Rises, Operating Income Down; Sees Flat Production In FY19

Norwegian energy company Equinor ASA (EQNR), formerly Statoil ASA, reported Thursday that its second-quarter IFRS net income was $1.48 billion, up 21 percent from $1.22 billion last year.

Adjusted earnings after tax were $1.13 billion, compared to $1.70 billion in the same period last year.

IFRS net operating income dropped 8 percent to $3.52 billion from $3.84 billion in the same period of 2018.

Equinor delivered total equity production of 2,012 mboe per day in the second quarter, same as last year. The company noted that the expected natural decline was offset by increased production from new fields and new wells.

Further, the board of directors has decided on a dividend of $0.26 per share for the second quarter.

Looking ahead, the company expects production for 2019 to be around the 2018 level.

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