Energy firm Equinor under fire after posting record £23.8 billion profits

Norway’s gas producer has angered climate campaigners who described the profits as ‘grotesque’.

Norwegian energy firm Equinor said it wanted to develop the Rosebank field with the ‘lowest possible carbon footprint’. (Andy Buchanan/PA)

One of the UK and Europe’s biggest gas producers has become the latest energy firm to stoke mounting anger over “grotesque” record-breaking annual profits.

Norwegian firm Equinor posted underlying earnings of 74.9 billion US dollars (£61.9 billion), more than double the 33.5 billion US dollars (£27.7 billion) it made in 2021.

On a net profit basis, it reported 28.7 billion US dollars (£23.8 billion) compared with profits of 8.6 billion US dollars (£7.1 billion) in 2021.