Equinor ASA

Integrated energyFounded 1972

Last reviewed: July 2026

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Equinor ASA

Integrated energyFounded 1972

Reviewed by Swet Parvadiya

Last reviewed: July 2026

Acquisitions

Equinor ASA Acquisitions

Total Acquisitions

EQT Non-Operated Interest in Northern Marcellus

2024

Why

Equinor acquired a 60% stake in EQT's non-operated interest in the Northern Marcellus formation, strengthening the company's position in US onshore natural gas production.

Impact

The acquisition increased Equinor's interest in Appalachia non-operated properties, where the company hit a record high of over 76 million barrels of production in 2024 from US onshore non-operated assets. This strengthened Equinor's exposure to US gas markets at a time when European LNG demand was surging.

Outcome

The transaction was part of Equinor's portfolio high-grading strategy, concentrating capital in core positions with lower emissions and higher returns. The Appalachia position provides exposure to one of the world's lowest-cost gas basins.

Danske Commodities

2018

Why

Equinore acquired Danske Commodities, a leading tech-driven energy trading house, to strengthen its marketing and trading capabilities in power, gas, and certificates across European markets.

Impact

Danske Commodities trades in 40 markets worldwide and has become a core component of Equinor's Marketing, Midstream & Processing segment. The acquisition enhanced Equinor's ability to optimize value across the energy value chain through flow assurance, premium market access, and asset-backed trading.

Outcome

Danske Commodities remains wholly owned by Equinor and contributes to the strong trading results in the MMP segment, though the subsidiary was also involved in the 2025 CRE market manipulation fine related to natural gas transmission capacity trading.

Norsk Hydro Petroleum Division (Merger)

2007

Why

The merger between Statoil ASA and Norsk Hydro ASA's petroleum business, implemented on October 1, 2007, was designed to create a stronger international player than either company could achieve separately. The combined entity, initially named StatoilHydro, would control more than a third of remaining proven resources on the NCS, operate about 80% of NCS production, and have a presence in almost 40 countries.

Impact

The merger created a company with approximately 31,000 employees, 6.3 billion boe in proven reserves, and expected output of 1.9 million boe per day. Cost synergies were estimated at NOK 4 billion per year before tax. The Norwegian state's ownership in the merged company was 62.5%. The merger fundamentally reshaped the Norwegian petroleum sector, reducing three domestic oil companies (Saga, Statoil, Hydro) to one national champion.

Outcome

The merger was successfully integrated, with the company reverting to the Statoil ASA name in 2009. The combined entity became one of the largest offshore oil and gas producers globally and laid the foundation for Equinor's current market position as Europe's largest energy supplier.

Equinor ASA's Growth & Acquisition Strategy

Equinor balances oil and gas cash generation with selective renewables, carbon capture, low-carbon solutions, and disciplined offshore development.

How Equinor ASA Makes Money

Equinor makes money by producing and selling oil, natural gas, refined products, power, and related energy services, with results heavily influenced by commodity prices, production volumes, taxes, and project execution.