Business · 22 July 2026
Equinor profits double to $11.5bn after war on Iran
Norway's state oil company, Equinor, saw its profits nearly double to $11.5 billion (£8.6 billion) in the three months to June, boosted by higher oil and gas prices. The UK's largest gas provider expanded its output when the war against Iran began, addressing a market deficit. Climate group Uplift criticised Equinor for making billions while UK households struggle with energy bills.
Reported by Guardian · How we write briefs