Norwegian Equinor's adjusted earnings before interest and taxes (EBIT) decreased by around 46.5% to $2.6 billion in the third quarter of 2019, from $4.8 billion during the same quarter in 2018, the company said Thursday.
The company, previously known as Statoil, said lower prices for both liquids and gas impacted the earnings for the quarter.
Equinor expects organic capex (capital expenditure) to be around $10-$11 billion for 2019.
"We maintain strong cost and capital discipline, but our results are impacted by lower commodity prices in the quarter. In addition, we have decided to use our flexibility to defer gas production to periods with higher expected prices," said Eldar Saetre, president and CEO of Equinor.
By Murat Temizer