The programme includes up to $371.3 million of market purchases, with a proportionate redemption of Norwegian State shares to keep its 67% ownership stake.
Equinor said it will begin the third tranche of its 2026 share buy-back programme on 23 July 2026, with a total tranche size of up to USD 1.125 billion including shares to be redeemed from the Norwegian State. Of that amount, up to USD 371.3 million of shares will be bought in the market, and the tranche will run no later than 26 October 2026. The company said the broader 2026 buy-back programme was first announced at up to USD 1.5 billion on 4 February 2026 and later increased to up to USD 3 billion at its Capital Markets Day on 16 June. Equinor said the purchases are intended to reduce issued share capital, with shares acquired in this tranche to be cancelled through a capital reduction at the annual general meeting in May 2027. Market repurchases will be carried out under a non-discretionary agreement, meaning an independent third party will execute trades without company input, and future tranches will be decided quarterly by the board subject to authorisations and the agreement with the State.