Published by Global Banking & Finance Review®
Posted on April 16, 2026
2 min readLast updated: April 16, 2026
Add as preferred source on GoogleEquinor’s MMP unit, which includes energy trading, is set to report first‑quarter adjusted operating profit exceeding its $400 million guidance, driven by strong trading performance in liquids and LNG. Full Q1 earnings are due May 6, with investors closely watching the impact of tighter crude market
OSLO, April 16 (Reuters) - Norwegian oil and gas company Equinor's downstream division, which includes energy trading, will report stronger first-quarter results this year, partly driven by volatility from the war in the Middle East, the group said on Thursday.
Equinor is due to report first-quarter earnings on May 6, when investors will look for details on how tighter gas and crude markets and a revamped commercial structure feed through to earnings and cash generation.
European rivals BP and Shell have both signalled that the quarter's energy price swings, triggered by the U.S.-Israeli war against Iran, created a windfall for their trading operations.
MIDDLE EAST WAR DRIVING 'SIGNIFICANT VOLATILITY'
In a quarterly update on Thursday, Equinor reiterated that its Marketing, Midstream and Processing (MMP) division over time is expected to report on average a quarterly adjusted operating income of around $400 million.
"Result this (first) quarter is expected to be above this guidance," Equinor said in a statement.
The company gave several reasons for stronger MMP earnings.
"The conflict in the Persian Gulf has driven significant volatility across crude, products and liquids towards the end of the quarter," it said.
It also said its U.S. gas trading business had benefited from price spikes during a cold spell in late January.
In Europe, Equinor benefited from "geographic spreads" in the gas market, which were "not directly related to the situation in the Middle East", the company said without elaborating.
BP said on Tuesday that its oil trading desk was set for "exceptional" first-quarter results and Shell also flagged strong oil trading, as conflict involving Iran drove violent price swings and redrew crude and fuel flows.
The month of March was defined by a scramble for non-Middle East barrels after disruption around the Strait of Hormuz tightened prompt markets, pushed Brent crude back above $100 per barrel and inflated premiums for crude delivered into Europe.
(Reporting by Jesus Calero and Terje Solsvik; Editing by Essi Lehto and Joe Bavier)
Equinor's MMP (Marketing, Midstream and Processing) division handles energy trading and is responsible for trading activities and commercial structure.
Yes, Equinor announced its MMP division will report first-quarter adjusted operating profit exceeding its $400 million guidance.
Equinor is scheduled to report its first-quarter earnings on May 6.
Tighter crude markets and a revamped commercial structure contributed to higher profits for Equinor's MMP division.
BP and Shell also benefited from oil-price swings, seeing windfall profits in their trading operations due to market volatility.
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