On July 23, Equinor released its financial results for the second quarter of 2025, reporting a massive $6.53 billion in adjusted earnings. While extreme weather disasters intensified across Europe, such as heatwaves, wildfires, droughts, and floods, Equinor continued to rake in profits from the very fossil fuels driving this climate crisis.

At a time when bold climate action is needed, Equinor shows once again that its priority is short-term profits, not long-term sustainability for a liveable future.

Profiting from the crisis they helped create

This year, Europe experienced its hottest summer on record. Heatwaves and extreme weather are no longer “future risks,” they are today’s reality. And yet, Equinor continues to pump out fossil fuels, pushing ahead with new oil fields like the Rosebank oil field in the North Sea.

In addition, the company’s oil and gas production rose to 2.1 million barrels of oil equivalent per day, up 2% from last year, with plans for even further growth in the coming years.

In short: Equinor is profiting from a crisis it helps perpetuate.

Time for polluters to pay

The financial burden of the climate crisis is growing rapidly, and it’s ordinary people who are paying the price. While the emotional and ecological losses are often irreversible, significant funding is urgently needed for disaster relief, rebuilding efforts, and climate-resilient infrastructure. The nations and corporations most responsible for greenhouse gas emissions must step up and contribute proportionately.

Norway, whose wealth is largely built on decades of oil and gas exports, has so far pledged only 270 million NOK (roughly $25 million USD) to the international loss and damage fund, an amount that falls far short of its responsibility. Meanwhile, Equinor raked in $29.8 billion in profits in 2024, and continues to expand its fossil fuel operations, despite mounting evidence that this path is incompatible with a livable, climate friendly future.

We need a real energy transition

If we’re serious about limiting global warming to 1.5°C, we must stop pretending fossil fuels have a place in the future. Equinor’s low-carbon solutions like carbon capture and platform electrification are not climate solutions, rather they are distractions from real climate action which will cut emissions.

Equinor must take the energy transition seriously and invest in 100% renewable energy.

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Get involved:

Exposing the impact Equinor’s fossil fuel projects will have on the climate, nature and local communities is a key aim of the Equinor Out-coalition. Find out more about what we do and how you can get involved here.

Get involved in the campaign to get #EquinorOut of oil and gas. Find out more here.

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