EnergyWatch

Equinor borrows USD 5 billion

The Norwegian oil giant has taken a large bond loan, which will be used to pay off debts, among other things.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Equinor has taken another step in its emergency procedures to handle the coronavirus and oil price crises and will borrow USD 5 billion via a bond loan, the oil company confirms in a press release.

"Equinor is in a strong position to handle market volatility and uncertainty. In combination with our USD 3 billion action plan to reduce cost, this transaction will further strengthen our financial resilience and flexibility going forward, and ensure liquidity to prioritized projects," says Chief Financial Officer Lars Christian Bacher in the statement.

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