History of Statoil (1972–2007)
 |
|
| Industry | Oil and gas |
|---|---|
| Fate | merged with Norsk Hydro division |
| Successor | StatoilHydro |
| Founded | 14 July 1972 |
| Defunct | 1 October 2007 |
| Headquarters | Stavanger, Norway |
| Products | Oil Natural gas Petrochemicals |
Statoil ASA is a Norwegian petroleum company established in 1972. It merged with the oil and gas division of Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro. Statoil is the largest petroleum company in the Nordic countries. While Statoil is listed on both the and the , the Norwegian state still holds majority ownership, with 64%. The company's headquarters are located in Norway's oil capital Stavanger. The name Statoil is a truncated form of the State's oil (company).
Statoil is one of the largest net sellers of crude oil in the world, and a major supplier of natural gas to the European continent, Statoil also operates around 2000 service stations in 9 countries. The company's CEO from mid-2004 onwards is Helge Lund, formerly CEO of Aker Kværner.
Den Norske Stats Oljeselskap A/S (Norwegian State Oil Company) was founded as a private limited company owned by the Government of Norway on 14 July 1972 by a unanimous act passed by the Storting, the Norwegian parliament. The political motivation was Norwegian participation in the oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to establish the foundations of a domestic petroleum industry. Statoil was required to discuss important issues with the Minister of Industry, later Minister of Petroleum and Energy. Statoil was also required to submit an annual report to the parliament.
...
Wikipedia