Equinor Opens Underwater Robotics Hub as Buyback Enters Final Stretch

Equinor marked two milestones on 28 October: the opening of its Kårstø Marine Robotics Centre and the announcement of a cash dividend of USD 0.39 per share for the third quarter of 2026. The payout is scheduled for 26 February 2027.

The Norwegian energy group expects the robotics hub to deliver annual cost savings running into several hundred million NOK through the use of underwater robots and autonomous vessels. Management framed the figure as an economic expectation tied to the centre's launch — not as savings already banked.

Output Guidance Raised

Third-quarter adjusted operating profit came in at USD 12.35 billion, with adjusted net income of USD 2.86 billion. Adjusted earnings per share for the reporting period reached USD 1.20. Production grew 2% year on year, and Equinor lifted its full-year 2026 oil and gas output growth forecast to around 4%, up from the 3% previously guided.

Final Buyback Tranche Underway

Roughly two weeks before the quarterly update, the company announced the fourth and last share buyback tranche for 2026, including shares to be repurchased from the Norwegian state for cancellation. Market purchases account for up to USD 371.3 million of the tranche, which began on 29 October and is set to expire no later than 1 February 2027. The full 2026 buyback programme covers up to USD 3 billion.

In a mandatory disclosure on Tuesday covering executed repurchases, Equinor said it now holds own shares equal to 1.00% of its share capital, including stock held under its employee share savings plan.

Visund Fire Probe

Operations at the Visund platform remain suspended following a fire in an electrical switch room, which triggered shutdown of the field and evacuation of most of the crew. Norway's offshore safety regulator, Havtil, opened a formal investigation into the blaze on Wednesday; the facility was shut down and depressurised after the incident, and no injuries were reported. Equinor is preparing repairs and a restart, with the outage currently slated to last until 16 November — a timetable subject to change.

Equinor has set its autumn conference for 24 November 2026 as the next confirmed event on its calendar.