March 22, 2020 / 8:29 PM / 11 days ago

Equinor suspends share buybacks due virus outbreak, oil crash

OSLO, March 22 (Reuters) - Norway’s Equinor suspended its share buyback programme amid the coronavirus outbreak and the crash in oil prices, the company said on Sunday.

“Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice,” it said in a statement. “An updated outlook is expected to be presented to the market by the end of March 2020.”

Equinor also said it was implementing measures to reduce operating costs, capital expenditure and exploration spending. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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