{
  "id": 15849537,
  "title": "Sterkere fra Vår Energi",
  "url": "https://urgent.news/2026/10/21/sterkere-fra-var-energi",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-21T05:03:04.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/energi-og-klima/i/Qg2qoQ/sterkere-fra-vaar-energi"
  },
  "original_language": "en",
  "account": "Vår Energi reported a profit before tax of $2.09 billion in the third quarter, an increase from $1 billion in the same period last year. The company attributed this strong financial performance to high oil and gas prices, with the CEO, Nick Walker, stating that the company is pleased to report robust results in the third quarter of 2026. The company increased its dividend to $400 million ($3.76 billion in kroner) for the third quarter and also signaled the same dividend for the fourth quarter. The dividend for the third quarter was also previously signaled to be $350 million.\n\nFor the entire year, Vår Energi plans to distribute $1.45 billion ($13.6 billion in kroner), compared to $1.2 billion in 2025. The company's revenues were $3.57 billion in the third quarter, up from $2.14 billion in the same quarter last year. Net income was $303.7 million in the third quarter, up from $151.7 million in the same period last year.\n\nVår Energi's shares have recently reached new heights due to increased oil and gas prices. The stock closed at $56.22 on Tuesday, up 70% since New Year. The company also announced plans to acquire Bluenord. Conflicts in the Middle East and Ukraine have contributed to the surge in oil and gas prices. Oil and gas prices recovered after a dip at the end of September, with Brent oil reaching $111 per barrel by Tuesday, the highest since May. Gas prices in Europe (TTF) also hit a record high of 90 euros per megawatt-hour on Tuesday.\n\nThe company previously updated the market on a net production of 369,000 oil equivalent barrels per day for the third quarter, which is in line with the same period last year. Vår Energi expects production to reach 390,000 barrels per day on average for 2026, down from an initial expectation of between 390,000 and 410,000 barrels. This adjustment was due to operational challenges at the Johan Castberg field, the Jotun production unit, and challenges in the Åsgard area. The company plans to start the fourth phase of Balder in the fourth quarter of the year, with more than 50 production facilities set to begin operation in 2026, 70% of which are already in production. This is expected to boost production, with the company's 15 projects under development estimated to add around 370 million oil barrels in reserves. Projects are profitable at an oil price above $30 per barrel. Vår Energi anticipates that six new projects will be approved in 2026, with four already decided upon.",
  "summary": "Vår Energi melder om sterkere tall i årets tredje kvartal enn i fjor, etter økte priser.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}