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Equinor to launch up to $1.13B buyback tranche

Market purchases are capped at USD 371.3 million, while the full tranche includes Norwegian State share redemptions and is due to end by February 1, 2027.

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Form Type
6-K

Rhea-AI Filing Summary

Equinor ASA will commence the fourth tranche of its 2026 share buy-back programme on October 29, 2026, for up to USD 1,125 million in total, including shares to be redeemed from the Norwegian State. Market purchases are capped at USD 371.3 million, and the tranche will end no later than February 1, 2027.

At commencement, 65,708,418 shares remained available under the market-purchase authorization, with prices ranging from NOK 50 to NOK 1,000 per share. Equinor says shares bought in the market in this tranche will be cancelled through a capital reduction at the May 2027 annual general meeting; under its agreement with the State, a proportionate number of State shares will also be redeemed and cancelled to maintain the State's 67% ownership.

Filing Explained

For the State’s proportionate share redemption, the price will be based on the volume-weighted average Equinor paid for market-purchased shares, plus interest compensation and adjusted for any dividends; this sets the State redemption payment.

Total fourth-tranche value Up to USD 1,125 million Includes shares to be redeemed from the Norwegian State
Market purchases Up to USD 371.3 million Fourth tranche of the 2026 share buy-back programme
Market-purchase authorization remaining 65,708,418 shares At commencement of the fourth tranche
Minimum purchase price NOK 50 per share Market-purchase authorization
Maximum purchase price NOK 1,000 per share Market-purchase authorization
Tranche end deadline February 1, 2027 The tranche will end no later than this date
Norwegian State ownership share 67% To be maintained under the agreement with the State
non-discretionary agreement technical
"entering into a non-discretionary agreement with a third party"
volume-weighted average financial
"volume-weighted average of the price paid by Equinor"
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.
capital reduction financial
"cancelled through a capital reduction"
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.
safe harbour conditions regulatory
"in accordance with applicable safe harbour conditions"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is Equinor's fourth 2026 buyback tranche?

The fourth tranche is up to USD 1,125 million in total, including shares to be redeemed from the Norwegian State; market purchases are up to USD 371.3 million.

How will EQNR execute the fourth buyback tranche?

Equinor says it will enter a non-discretionary agreement with a third party that will execute share repurchases and make trading decisions independently of the company. Shares will be purchased on the Oslo Stock Exchange and potentially on other trading venues within the EEA.

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

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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 October 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 October 28, 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 October 28, 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: October 28, 2026     /s/ TORGRIM REITAN    
  Torgrim Reitan
  Chief Financial Officer
  

EXHIBIT 99.1

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

Equinor (OSE: EQNR, NYSE: EQNR) will on 29 October 2026 commence the fourth tranche of up to USD 1,125 million of the share buy-back programme for 2026, as announced in connection with the company’s third quarter results on 28 October 2026.

In this fourth 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 fourth tranche of up to USD 1,125 million including shares to be redeemed from the Norwegian State. The tranche will end no later than 1 February 2027.

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 fourth 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 fourth 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 fourth 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 fourth tranche:

The fourth 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 65,708,418 remain available at the commencement of the fourth 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 fourth 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 fourth tranche in 2026 and to redeem and cancel a proportionate number of the State’s shares per the agreement with the State.

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

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