Equinor reported $955M in impairments for U.S. offshore wind projects in Q2 earnings. Policy shifts and rising costs hurt Empire Wind and South Brooklyn asset values, with $763M of impairments from Empire Wind 1 and South Brooklyn. Phase 2 may not proceed without tax credits. Regulatory changes under Trump and increased tariffs contributed to impairment costs. Biden administration support for renewables countered previous regulatory setbacks. Withdrawal of tax credits and tariffs heightens uncertainty for Equinor’s projects. The company may not proceed with Empire Wind Phase 2 due to lack of tax credits. Equinor carries a Zacks Rank #3 (Hold) in the energy sector. Other top picks include Venture Global, Galp Energia, and Eni, each with a Zacks Rank #2 (Buy). Venture Global focuses on LNG production and export, while Galp Energia made a significant oil discovery in Namibia. Eni is a global integrated energy company with a focus on LNG.

Read more at Zacks Investment Research: EQNR’s US Wind Projects Incur $955M Impairment Over Regulatory Changes – July 25, 2025