Norway’s Equinor posts strong Q1, to exit Russian ventures

COPENHAGEN, Denmark (AP) — State-owned Equinor ASA of Norway says one if its plants in the Arctic that had been under repairs since a 2020 fire “is on track for a safe start-up on May 17.” The Stavanger, Norway-based company presented its its first quarter results on Wednesday. Equinor posted revenue of $36.4 billion, up 100% from the same period last year. Net operating income was $18.4 billion in the first quarter, compared to $5.2 billion in the same period of 2021. Equinor’s chief executive called Russia’s invasion of Ukraine “a dark moment for Europe” and said Equinor had started the process of pulling out of its Russian joint ventures.