Equinor Opens Final 2026 Buyback Tranche as Output Guidance Climbs and CEO Flags Winter Gas Risk
Published on 10/29/2026 at 05:51 | Editorial boerse-global.de
Equinor will launch the fourth and last tranche of its 2026 share repurchase programme today, capping a year in which the Norwegian energy major has earmarked as much as USD 3 billion for buybacks. The upcoming round, announced yesterday, carries a total value of up to USD 1.125 billion, of which up to USD 371.3 million is designated for on-market purchases. It is scheduled to run until no later than 1 February 2027.
The third tranche wrapped up on 22 October, and the new phase keeps the group's capital-return machine running at full tilt.
Dividend Confirmed Alongside Quarterly Scorecard
Alongside the buyback, Equinor's board approved a cash dividend of USD 0.39 per share for the third quarter, with the Oslo ex-date set for 15 February 2027 and payment due on 26 February 2027. The distribution was given the green light on Tuesday.
The payout lands on the back of third-quarter 2026 results published yesterday, which showed an adjusted operating profit of USD 12.35 billion and net income of USD 2.54 billion. Adjusted earnings per share came in at USD 1.20.
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Guidance on production also moved higher. Equinor now expects oil and gas output growth of roughly 4% for 2026, up from the 3% it had previously signalled.
DZ Bank Trims Rating, but Shares Edge Higher
DZ Bank downgraded Equinor from "Buy" to "Hold" yesterday, according to Bloomberg, the same day the company reported its quarterly figures and lifted its output forecast. Investors shrugged off the move: the stock added 0.6% on the day, closing at EUR 42.40.
Opedal Warns of Fresh Gas Price Spikes
On the European gas market, chief executive Anders Opedal cautioned that prices could spike again, Reuters reported. Cold winter weather may lift demand, while depleted storage sites and competition with Asia for liquefied natural gas cargoes threaten supply. Storage levels, he noted, sit at their lowest for this time of year since 2011.
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Equinor has already moved to loosen the squeeze. On 15 October it agreed a project change with the Troll licence partners under which the second planned electric export compressor at Troll C will not be installed. The tweak is expected to make around 2.3 billion standard cubic metres of additional gas available to the European market across 2027 and 2028.
Full fourth-quarter and 2026 annual results are due on 4 February 2027.
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