Equinor’s Q2 Profit Drops 19% on Lower Oil Prices, LNG Outage; U.S. Upstream M&A Slows Amid Volatility

Equinor ASA reported a 19% decline in its second-quarter core profit, primarily due to weaker oil prices and a prolonged outage at its liquefied natural gas (LNG) facility in northern Norway. The Norwegian energy company highlighted that geopolitical volatility has created a challenging environment for its traders, reflecting broader risks faced by European oil and gas majors. This turbulence in energy and equity markets also contributed to a slowdown in mergers and acquisitions activity within the U.S. upstream oil and gas sector, according to analytics firm Enverus. Industry analysts noted that while second-quarter earnings for major oil companies are expected to fall due to softer crude prices, trading outcomes remain uncertain amid heightened market volatility. Goldman Sachs strategist Della Vigna described the quarter as tougher but not disastrous for the sector.