Equinor promises greater resilience, as profits disappoint

The rebranded Norwegian firm’s results take a hit from the lower oil price

Equinor reported lower than expected fourth quarter 2018 profits on Wednesday, blaming "one-off" conditions created by an oil price fall late in the year. But the Norwegian oil and gas firm's leadership urged investors to focus on its efforts to diversify and streamline to cope better with market volatility in the future. The state-owned company's share price fell as much as 3pc, after it announced quarterly earnings of $4.4bn, compared to 4bn a year earlier—analysts forecasts had centred on fourth quarter earnings of around $4.8bn. It was a disappointing end to a year in which the firm had rebranded from Statoil to Equinor as it strove to be seen as a company that is broadening beyond the h