Equinor reported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs.
War in Ukraine has lifted European gas price to recordsreported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs.
"Continued capital discipline and cost focus enabled us to deliver very strong financial results and cash flow, strengthening the balance sheet," Chief Executive Officer Anders Opedal said in a statement.The sale of natural gas is now Equinor's most profitable business, exceeding traditionally dominant crude oil revenue, as Europe scrambles to fill depleted gas storage amid fears the war in Ukraine will lead to a loss of Russian supplies.
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