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Organisation and basis of preparation | 6 Months Ended
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Jun. 30, 2021
Organisation and basis of preparation [Abstract] |
Organisation and basis of preparation | 1 Organisation and basis of preparation Organisation and principal activities Equinor ASA, originally Den Norske Stats Oljeselskap AS, was founded in 1972 and is incorporated and domiciled in Norway. The address of its registered office is Forusbeen 50, N-4035 Stavanger, Norway. The Equinor group’s (Equinor’s) business consists principally of the exploration, production, transportation, refining and marketing of petroleum and petroleum-derived products, and other forms of energy. Equinor ASA is listed on the Oslo Børs (Norway) and the New York Stock Exchange (USA). All of Equinor's oil and gas activities and net assets on the Norwegian continental shelf are owned by Equinor Energy AS, a 100% owned operating subsidiary of Equinor ASA. Equinor Energy AS is co-obligor or guarantor of certain debt obligations of Equinor ASA. Following changes in Equinor's internal reporting to management, th e composition of Equinor's operating and reporting segments changed as of the first quarter 2021. Segment information for prior periods has been reclassified to align with the new segment presentation. Certain further changes to Equinor’s operating segment s took effect on 1 June 2021, but this did not impact the reporting segments, and no reclassifications were required. For more information, see n ote 2 Segments to these condensed interim financial statements. Equinor's c ondensed interim financial statemen ts for the second quarter of 202 1 were authorised for issue by the board of directors on 27 July 202 1. Basis of preparation These c ondensed interim financial statements are prepared in accordance with International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB) and as adopted by the European Union (EU). The c ondensed interim financial statements do not include all the information and disclosures required by International Financial Reporting Standards (IFRS) for a complete set of financial statements, and these c ondensed interim financial statements should be read in c onjunction with the C onsolidated annual financial statements for 20 20. IFRS as adopted by the EU differ s in certain respects from IFRS as issued by the IASB, but the differences do not impact Equinor's financial statements for the periods presented. A desc ription of the significant accounting policies applied in preparing these c ondensed interim financial statements is included in Equinor's C onsolidated annual financial statements for 20 20. There have been no changes to the significant accounting policies during 202 1 compared to the C onsolidated annual financial statements for 20 20. The c ondensed interim financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the dates and interim periods presented. Interim period results are not necessarily indicative of results of operations or cash flows for an annual period. Certain amounts in the comparable periods in the note disclosures h ave been reclassified to conform to current period presentation. The subtotals and totals in some of the tables may not equal the sum of the amounts shown due to rounding. The c ondensed interim financial statements are unaudited. Use of estimates The prep aration of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making the judgments about carrying values of assets and liabilities that are not r eadily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis, considering current and expected future market conditions. A change in an accounting estimate is recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The ongoing C ovid-19 pandemic create s additional estimation uncertainties and impact s key assumptions applied by Equinor in the valuation of our assets and the measurement of our liabilities. Reference is made to note 2 Significant accounting policies in Equinor’s C onsolidated annual financial statements for 2020 and to n ote 8 Impact of the C ovid-19 pandemic to these condensed interim financial statements for further information.

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- Definition The entire disclosure for significant accounting policies applied by the entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 117 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_117&doctype=Standard -URIDate 2020-01-01 + Details
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