Norway's Equinor posted a net income of $1.9 billion for the second quarter of 2021, up from a loss of $251 million during the same period a year ago, according to the company's financial results released on Wednesday.
Anders Opedal, president and CEO of Equinor, attributed 'the strong' second quarter results to solid operational performance and continued focus on value creation as well as higher commodity prices.
'We deliver a strong result in the second quarter. Solid operational performance and continued focus on value creation have enabled us to capture additional value from higher commodity prices. Strict capital discipline and a net cash flow of more than USD 4.5 billion, reduce our net debt ratio to 16.4 percent and make us robust for volatility in commodity prices going forward,' says Anders Opedal, president and CEO of Equinor ASA.
Equinor's total revenues climbed to $17.4 billion during the second half of the year from $7.6 billion in the same period of last year.
Despite the robust performance, the company warned of the considerable uncertainty from the COVID-19 pandemic on economic conditions worldwide.
By Sibel Morrow