Equinor suspends share buybacks due virus outbreak, oil crash

Norway's Equinor suspended its share buyback program 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 program 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.