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Equinor Q3 Net Loss Widens On Charges, Weak Prices; Production Up

(RTTNews) - Norwegian energy company Equinor ASA (EQNR) reported Thursday that its third-quarter IFRS net loss was $2.12 billion, wider than last year's loss of $1.11 billion. The latest results were hurt by net impairments of $2.93 billion mainly due to reduced future price assumptions.

Adjusted earnings were $780 million, compared to $2.59 billion a year ago. Adjusted earnings after tax was $271 million, down from $1.08 billion last year.

The company noted that low prices for liquids and gas impacted the earnings for the quarter.

IFRS net operating loss was $2.02 billion, significantly wider than last year's loss of $469 million.

Total revenues and other income declined 27 percent to $11.34 billion from prior year's $15.61 billion.
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