Norway's Equinor has suspended its ongoing $5bn (£4.3bn) share buyback programme due to the coronavirus outbreak and the crash in oil prices, the company said last night. The European oil major was planning to execute the second tranche of its plan — worth $675m when including the Norwegian state's share — between 18 May and 28 October. The overall programme was due to run until 2022. "Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice," it said. Equinor also said it was implementing measures to reduce operating costs.

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