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Equinor (NYSE: EQNR) begins USD 1,125 million 2026 buyback tranche

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Equinor ASA will on 23 July 2026 start the third tranche of its 2026 share buy-back programme. This tranche covers up to USD 1,125 million, including shares to be redeemed from the Norwegian State, with up to USD 371.3 million of shares purchased in the market, ending no later than 26 October 2026.

The overall 2026 buy-back programme was increased to up to USD 3 billion and is subject to market outlook and balance sheet strength. It is based on a May 2026 general meeting authorisation allowing market repurchases of up to 78 million shares, of which 74,465,025 remain, within a price range of NOK 50–1,000. The purpose is to reduce issued share capital, and the board plans to propose cancelling shares bought in this tranche, together with a proportionate number of the State’s shares to keep its ownership at 67%, at the May 2027 annual general meeting.

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Filing Explained

The third tranche’s execution is independent of Equinor, while later tranches require quarterly board decisions and further conditions.

Equinor’s third 2026 buy-back tranche is scheduled to start on July 23, 2026 and has not yet been completed; an independent third party will execute the market purchases, while the board will propose cancelling those shares at the May 2027 annual meeting.

The agreement is described as non-discretionary: the third party, rather than Equinor, will make trading decisions independently of the company.

After this tranche, any further 2026 buy-back tranches will require a quarterly decision by the board, along with applicable shareholder authorisation and an agreement with the Norwegian State.

For the State’s shares, the redemption price will be based on the volume-weighted average price Equinor pays for market purchases, plus interest compensation and adjusted for dividends.

Third tranche size USD 1,125 million Maximum total size of the third 2026 share buy-back tranche, including State redemption
Market purchases in third tranche USD 371.3 million Maximum value of shares to be purchased in the market in the third tranche for 2026
2026 buy-back programme size USD 3 billion Total potential size of Equinor’s 2026 share buy-back programme after the June 2026 increase
Maximum shares under authorisation 78 million shares Maximum number of shares that may be purchased in the market under the May 2026 authorisation
Remaining shares under authorisation 74,465,025 shares Shares still available for market repurchase at commencement of the third tranche for 2026
Price range for buy-backs NOK 50–1,000 per share Authorised minimum and maximum prices for market repurchases in the 2026 programme
Norwegian State ownership 67% Ownership level the State aims to maintain through proportionate share redemptions and cancellations
share buy-back programme financial
"Equinor to commence third tranche of the 2026 share buy-back programme"
A share buy-back programme is when a company purchases its own shares from the market. This reduces the total number of shares available, which can increase the value of remaining shares and signal confidence in the company's future. For investors, it can be a sign that the company believes its stock is undervalued and may lead to higher share prices.
non-discretionary agreement financial
"Equinor will be entering into a non-discretionary agreement with a third party"
volume-weighted average financial
"The price to be paid to the State shall be the volume-weighted average of the price"
A volume-weighted average is a number that combines different values by giving more influence to those associated with larger trading size — for example, prices tied to many shares traded count more than prices tied to few shares. For investors it shows the price level where most trading actually happened, serving as a truer “center” than a simple average and helping judge whether recent trades were heavy or light compared with typical activity.
safe harbour conditions regulatory
"Transactions will be conducted in accordance with applicable safe harbour conditions"
capital reduction financial
"cancelled through a capital reduction at the annual general meeting"
A capital reduction is a legal move where a company shrinks the amount of money recorded as its official share capital, either by cancelling shares, lowering the value of each share, or returning cash to shareholders. Investors care because it changes the company’s balance sheet and can alter how much each remaining share represents—like pruning a tree to concentrate fruit or giving back some of the harvest—potentially affecting ownership percentages, per‑share metrics and the stock’s market value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Equinor (EQNR) announce regarding its 2026 share buy-back?

Equinor announced it will start the third tranche of its 2026 share buy-back on 23 July 2026. The tranche is part of a larger programme of up to USD 3 billion, subject to market outlook and balance sheet strength.

How large is Equinor’s (EQNR) third 2026 buy-back tranche and market component?

The third tranche has a total size of up to USD 1,125 million, including State redemptions. Within this, Equinor plans to purchase shares in the market for up to USD 371.3 million before the tranche ends no later than 26 October 2026.

What is the total size of Equinor’s (EQNR) 2026 share buy-back programme?

Equinor’s 2026 share buy-back programme has been increased to up to USD 3 billion. This total includes shares that will be repurchased in the market and a proportionate number of shares to be redeemed from the Norwegian State to maintain its ownership level.

What authorisation supports Equinor’s (EQNR) third 2026 buy-back tranche?

The third tranche relies on a May 2026 general meeting authorisation allowing market repurchases of up to 78 million shares. At the start of this tranche, 74,465,025 shares remained available for repurchase, within a price range of NOK 50–1,000 per share.

How will the Norwegian State’s 67% stake in Equinor (EQNR) be maintained?

An agreement provides that the State will redeem and cancel a proportionate number of its shares alongside market buy-backs. This is intended to keep the State’s ownership at 67%, with its redemption price based on the volume-weighted average paid in the market plus adjustments.

What happens to shares repurchased in Equinor’s (EQNR) third 2026 tranche?

Equinor’s board plans to propose that all shares bought in the third tranche, and a proportionate number of the State’s shares, be cancelled. This would occur through a capital reduction to be put to the annual general meeting expected in May 2027.
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2026

Commission File Number: 1-15200

Equinor ASA
(Translation of registrant's name into English)

FORUSBEEN 50, N-4035, STAVANGER, NORWAY
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

 

 


On July 22, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated July 22, 2026


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

      Equinor ASA    
  (Registrant)
   
  
Date: July 22, 2026     /s/ TORGRIM REITAN    
  Torgrim Reitan
  Chief Financial Officer
  

EXHIBIT 99.1

Equinor to commence third tranche of the 2026 share buy-back programme

Equinor (OSE: EQNR, NYSE: EQNR) will on 23 July 2026 commence the third tranche of up to USD 1,125 million of the share buy-back programme for 2026, as announced in connection with the company’s second quarter results on 22 July 2026.

In this third tranche of the share buy-back programme for 2026, shares for up to USD 371.3 million will be purchased in the market, implying a total third tranche of up to USD 1,125 million including shares to be redeemed from the Norwegian State. The tranche will end no later than 26 October 2026.

Equinor announced at the 4Q and full year 2025 results presentation on 4 February 2026, a share buy-back programme of up to USD 1.5 billion for 2026, including shares to be redeemed from the Norwegian State. At the Capital Markets Day on 16 June this year, the share buy-back programme for 2026 was further increased to up to USD 3 billion, including shares to be redeemed from the Norwegian State. The share buy-back programme will be subject to market outlook and balance sheet strength and be structured into tranches where Equinor will buy back shares for a certain value in USD over a defined period. For the third tranche for 2026, Equinor will be entering into a non-discretionary agreement with a third party who will execute repurchases of shares and make its trading decisions independently of the company.

The commencement of future share buy-back tranches after the third tranche for 2026 will be decided by the board of directors on a quarterly basis, in line with the company’s dividend policy, and will be subject to board authorisation for share buy-backs from the company’s general meeting and agreement with the Norwegian State regarding share buy-back (as further described below).

The purpose of the share buy-back programme is to reduce the issued share capital of the company. All shares purchased as part of the third tranche for 2026 will thus be cancelled through a capital reduction at the annual general meeting of the company in May 2027

Further information about the share buy-back programme and the third tranche:

The third tranche of the share buy-back programme for 2026 is based on an authorisation granted to the board of directors at the annual general meeting of the company held on 12 May 2026. According to the authorisation, the maximum number of shares that may be purchased in the market is 78 million, of which 74,465,025 remain available at the commencement of the third tranche for 2026 (taking into account buy-backs carried out under previous tranches during the authorisation period). The minimum price that can be paid per share is NOK 50, and the maximum price is NOK 1,000. The authorisation is valid until the annual general meeting of the company in May 2027, but no later than 30 June 2027.

An agreement between Equinor and the Norwegian State governs the State's participation in the share buy-back programme: at the annual general meeting of the company in May 2027, the State will, as per proposal by the board of directors, vote for the cancellation of shares purchased in the market pursuant to the board authorisation, and the redemption and cancellation of a proportionate number of its shares in order to maintain its ownership share in the company at 67%. The price to be paid to the State for redemption of the State’s shares shall be the volume-weighted average of the price paid by Equinor for shares purchased in the market plus interest rate compensation, adjusted for any dividends paid.

In the third tranche for 2026, shares will be purchased on the Oslo Stock Exchange and potentially also on other trading venues within the EEA. Transactions will be conducted in accordance with applicable safe harbour conditions, and as further set out in the Norwegian Securities Trading Act of 2007, EU Commission Regulation No 2016/1052 and the Norwegian Financial Supervisory Authority's Guidelines for buy-back programmes from March 2025.

The board of directors will propose to the annual general meeting to be held in May 2027, to cancel shares purchased in the market in this third tranche in 2026 and to redeem and cancel a proportionate number of the State’s shares per the agreement with the State. Any shares purchased under subsequent tranches of the share buy-back programme for 2026, including a proportionate number of the State’s shares will follow a similar process at the annual general meeting of the company in 2027.

This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Further information from:

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations
+47 918 01 791

Media
Sissel Rinde, vice president Media Relations
+47 412 60 584

Filing Exhibits & Attachments

1 document