OSLO (Reuters) -Equinor reported a bigger-than-expected decline of 9.9% in third-quarter profits on Wednesday as oil and gas prices fell from a year ago, and maintained its outlook for production growth.

The Norwegian energy group’s adjusted earnings before tax for July-September fell to $6.21 billion from $6.89 billion a year earlier, slightly lagging the $6.31 billion predicted in a poll of 21 analysts compiled by Equinor.

The company maintained a projection that its oil and gas output will grow by 4% this year compared to 2024 and kept its forecast for capital expenditure in 2025 of $13 billion.

“High performing fields and new fields coming on stream on the Norwegian continental shelf, drive production growth,” CEO Anders Opedal said in a statement.

In February, Equinor followed riv

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