In 2004, Statoil (one of the companies involved in the 2007 merger to create Equinor), was found guilty of corruption by Norwegian courts. The case revolved around the company's securing of oil contracts in Iran between 2002 and 2003 through misconduct and bribery. Statoil was ordered by Norwegian courts to pay a fine of NOK 20 million.

Equinor's fossil fuel activities have a large environmental impact through their production of greenhouse gases. By 2026 the company plans to have increased its production of oil and gas, with 95% of its energy production still coming from fossil fuels.

North Sea & Arctic expansion Equinor is currently involved in numerous North Sea expansion plans, such as Rosebank and Wisting, which it opened in 2020. Wisting is the largest oil field in western Europe.  The environmental impacts of this field will be huge. The emissions from Wisting will be 200 million tonnes of CO2. As the project is so far to the north, it also endangers Arctic wildlife such as the seabirds that need to swim past the oil field.

The Global Oil and Gas Exit List (GOGEL) by Urgewald shows that Equinor is expanding fossil fuel production in 11 countries, while Arctic extraction forms 20% of its overall hydrocarbons production. Arctic exploration is of particular concern, due to the impact on the region’s fragile ecosystems, and the cold temperatures meaning it is not possible to mitigate oil spills.

No project expanding the fossil fuel industry is compatible with the Paris Climate Agreement. The emissions from new North Sea projects would contribute to catastrophic climate change, especially with the proposed development of huge fields such as Rosebank, which would create emissions equivalent to more than the combined emissions of the world's low-income countries.

Greenwashing Statoil's rebranding to Equinor in 2018 drew criticism that it was drawing attention away from its oil and gas activities through green marketing. However, between 2010 and 2018 only 2% of its capital expenditure went on green energy. Client Earth comments on its greenwashing:

Equinor has not reduced its annual Scope 3 emissions. In fact, they have slightly increased since 2015, to 247 million tonnes CO2 equivalent in 2019 and 250 million tonnes CO2 equivalent in 2020.

Moreover, despite claims around its renewable energy activities, in 2020 Equinor's renewables investments accounted for just 5% of its net operating loss.