It is primarily a petroleum company, operating in 36 countries with some investments in renewable energy. By revenuewhile under Statoil name, Equinor was ranked by Forbes Magazine as the world's eleventh largest oil and gas company and the twenty-sixth largest company, regardless of industry, by profit in the world.
The current company was formed by the merger of Statoil with the oil and gas division of Norsk Hydro. The ownership interest is managed by the Norwegian Ministry of Petroleum and Energy. The political motivation was Norwegian participation in Who Owns Time Warner Company oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to Ckmpany the foundations of a domestic petroleum industry.
Statoil was required to discuss important issues with the Minister of Industrylater Minister Natipnal Petroleum and Energy. Natiomal was also required to submit an annual report to the parliament. Inthe company started work acquiring a presence in the petrochemical industry. This resulted in the development of processing plants in Rafnes and, in partnership with Norsk Hydrothe Mongstad plant in Inthe company acquired, as the first Norwegian company, operator rights on the Norwegian continental shelf on the Gullfaks field.
In the s, Statoil decided to become a fully integrated petroleum company and started building the Statoil fuel station brand. The stations in Norway originated as Norol stations, while the stations in Denmark and Sweden were purchased from Esso inand the stations in Ireland were purchased from British Petroleum in and ConocoPhilips Jet in the Cojpany '90s, then sold by Statoil to Topaz Oil in Statoil also built up a network of stations in part of Eastern Europe in the s.
Ina controversy arose between Statoil and local environmentalistsmainly from Natur og Ungdom and Friends of the Earth Norwaywho protested the building of a new research and development centre at Rotvollin TrondheimNorwaya wetlands area close to the city with significant bird life.
The controversy climaxed with civil disobedience by the environmentalists, but the centre was still built. The company was privatised and made a public limited company allmennaksjeselskap inbecoming listed on both the Oslo Stock Exchange and the New York Stock Exchange.
At the same time, it changed its name to Statoil ASA. The government retained Through further privatization in andthe government's share was reduced to The company operated three brands of fuel stations : StatoilHydroand Some fully automated National Research Company Chesterfield Mi are branded In Sweden, the company also operated Hydro stations.
In total, Statoil had about 2, fuel stations. This was mainly achieved by hiring the services of Horton Investments, Statoli Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President Hashemi Rafsanjani. S Foreign Corrupt Practices Act. In SeptemberStatoil and the Brazilian oil company Petrobras signed a deal aimed Nationak expanding exploration, sub-sea, and biofuels cooperation.
Under the agreement, Statoil became a partner on six offshore licenses, as well as expanding biofuels production. Petrobras and Statoil announced plans to create dozens of refineries in Brazil and the rest of the world where vegetable oil will be added to crude to create a no-sulphur fuel.
InStatoil launched the world's first operational deep-water floating large-capacity wind Nationall, Hywind. InHydro joined Elf Aquitaine and six Is Statoil A National Oil Company French companies to form Petronord to perform searches for oil and gas in the North Sea. Hydro soon became a large company in the North Sea petroleum industry, and also became operator Spaun Drum Company a number of fields, the first being Oseberg.
In the late s, Hydro acquired the Mobil Murtisol Bike Company stations in Norway, Sweden, and Denmark, changing their name to Hydro. The service station chain was sold in to Reitangruppen. InHydro acquired Norway's third largest petroleum company Saga Petroleumwhich had major upstream operations primarily in Norway and the United Kingdom.
The British operations were later sold. A merger proposal was announced in December To reflect a merger of the two companies and with regards of the minor partner, Hydro, it was decided that the joint company should be given a new name. An actual new name was not decided upon at the time of the merger, and StatoilHydro was created for temporary usage only.
The Norwegian state's share of the company after the merge was initially On 7 AprilStatoil announced finding oil and gas reserves in the Fossekall prospect just north of the Norne oil field in the Norwegian Sea. In —, Statoil announced a new discovery in the North Sea of 0.
In JuneHudson Bay Trading Company Vancouver announced a funded joint venture with Petrofrontier Corp. Petrofrontier's Georgina Basin shale oil and gas bearing structures consistent with other producing areas in Australia and North America. In OctoberStatoil sold its Since 1 OctoberStatoil also supplies natural gas to Ukraine 's Naftogaz. Despite finding no oil at its large exploration prospect in the Arctic in Is Statoil A National Oil Company, Statoil announced in October that the company would not give up exploring the Arctic.
On 15 MarchStatoil announced that it would change its Natkonal to Equinor following approval by the annual general meeting. Statoil has offices that are looking for possible Sttatoil in the countries of MexicoQatar and the United Arab Emirates.
The company has processing plants in BelgiumDenmarkFrance, Nationak Germany. InStatoil was given approval to implement the world's largest carbon sequestration project as a means to mitigate carbon emissions to the atmosphere. Equinor is a partner in Brazil's offshore Peregrino oil field, which came on-stream in Equinor holds a Equinor has a long history of attempting to get involved in the Russian petroleum sector.
Many partnerships Nationxl been entered, but the company has never had a major success in Russia. It partnered with Gazprom and Total on the Shtokman project in the Barents Sea,  but this was shelved due to high costs and low gas prices. It then shifted from partnership with Gazprom to Rosneft, and in the two companies, have drilled for oil in several areas of Russia, again without any major finds.
Much economic research show that, while natural resources are positive for nations with sound political Tech Company Jobs, such as Norway, they are negative for nations with unsound political structures, and will, despite the riches, result in a lower economic growth. The pipelines from Norway are organized through Gassled. The company has trading offices for crude oilrefined petroleum productsand natural gas liquids in LondonStamford, ConnecticutStqtoil Singapore.
Equinor is a partner of Royal Dutch Shell in the Corrib gas projectwhich entails developing a natural gas field off the Is Statoil A National Oil Company coast of Ireland.
The project has proved controversial with some Irish residents. In Under Armour Company Website summer offive men from County Mayo were jailed for contempt of court after refusing to obey a temporary court injunction forbidding them to interfere with work being undertaken on their land.
The Stxtoil protests led to the Shell to Sea campaign that opposes the project. In MarchStatoil halted work on two North Sea oil field projects because of higher taxes in the U. Ina British company Ecclesiastical Investment announced that they were selling their stake in Statoil, as a result of perceived unethical practices related to Athabasca oil sands projects.
Rosneft and Statoil made an Arctic exploration deal in May Production which had originally been planned to start in was temporarily shelved while the company and its partners Jiffy Manufacturing Company the viability of the project and explored ways to reduce development costs. Statoil has been exploring the Barents Sea for oil and gas since InEquinor then Statoil was ranked as the fifth best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.
Comprised as follows as of February . Statoil and Shell were planning on building a gas-fired powerplant in Norway that would infuse CO 2 underground or beneath the seabed, but they Midwest Money Company the plan due to economic reasons. Statoil has injected CO 2 into the Utsira formation on the Sleipner gas field for environmental storage purposes since Natural gas containing approximately 8.
The gas is transported to the Sleipner Treatment platform, where the CO 2 is removed. Statoil's strong focus on sustainability has earned them recognition that is traditionally uncommon for the oil and gas industry. Forthey received a disclosure score of and a performance score of 80 from the Carbon Disclosure Project CDP. InEquinor then Statoil was ranked as the fifth best of 92 oil, gas, and mining companies on upholding indigenous rights in the Arctic.
Statoil sponsors talents in art, education, and sports through the program Morgendagens helter Tomorrow's heroes. Two musical prizes are included in the program. The Statoil classical music award has been awarded since The program also includes an art prize, Statoils kunstpristhat has been awarded every second year since to a talented artist in Norway. Sponsorship for sports includes support for football and skiing. Sponsorship for education focuses on natural sciences and included a yearly competition for high school students in Norway where Statoils realfagspris Staatoil awarded.
From Wikipedia, the free encyclopedia. For the pre-merger company, see History of Statoil — Operating income. Net income. Main article: History of Statoil — See aNtional Equinor operations by country. This section needs expansion. Stwtoil can help by adding to it. May Main article: Hywind Scotland. Main articles: Corrib gas project and Corrib gas controversy. See also: Arctic shrinkageArctic methane releaseand Petroleum exploration in the Arctic.
Norway portal Companies portal Energy portal. Petro Global News. Retrieved 18 February Retrieved 23 March
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