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(, ) is a
Norwegian Petroleum company established in
1972 . It is the largest petroleum company in the
Nordic Countries and Norway's largest company, employing over 25000 people. While Statoil is listed on both the
Oslo Stock Exchange and the
New York Stock Exchange , the Norwegian state still holds majority ownership, with 64%. The main office is located in Norway's oil capital
Stavanger . The name Statoil is a truncated form of ''the State's oil''.
Statoil is one of the largest net sellers of
Crude Oil in the world, and a major supplier of
Natural Gas to the
Europe an 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 .
In December 2006 Statoil revealed a proposal to merge with the oil business of . The deal is expected to close in the third quarter of 2007. If the plan goes through, the company will be the biggest offshore oil and gas company in the world. The company will continue having its main headquarter located in Stavanger. The international sales and marketing division will be located in
Oslo with other operations located in
Stavanger .
was founded as a private limited company owned by the
Government Of Norway on
14 July 1972 by a unanimous act passed by the Norwegian parliament
Stortinget . 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.
In 1973 the company started work acquiring a presence in the
Petrochemical Industry . This resulted in the development of processing plants in
Rafsnes and, in partnership with
Norsk Hydro , the
Mongstad plant in
1980 . In
1981 the company acquired, as the first Norwegian company, operator rights on the
Norwegian Continental Shelf on the
Gullfaks field. 1987-88 saw the largest scandal in the companies history, the
Mongstad Scandal that made the until then unassailable CEO
Arve Johnsen withdraw.
The company was privatised and made a
Public Limited Company (
Allmennaksjeselskap ) in 2001, becoming listed on the both the
Oslo Stock Exchange and the
New York Stock Exchange . At the same time it changed its name to .
:''See
Statoil Operations By Country
Statoil is the largest operator on the Norwegian continental shelf, with 60% of the total production. The field operated are Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Norne,
Ormen Lange , Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve and Åsgard. The company also has processing plants at
Kolsnes ,
Kårstø ,
Mongstad ,
Tjeldbergodden and
Melkøya .
In addition to the Norwegian continental shelf, Statoil operates oil fields in
Algeria ,
Angola ,
Azerbaijan ,
Brazil ,
China ,
Iran ,
Libya ,
Nigeria ,
United States and
Venezuela . Statoil has offices that are looking for possible ventures in the countries of
Egypt ,
Mexico ,
Qatar and
United Arab Emirates . The company has processing plants in
Belgium ,
Denmark ,
France and
Germany .
Statoil is involved in a number of
Pipelines , including
Zeepipe ,
Statpipe ,
Europipe and
Franpipe from the Norwegian continental shelf to
Western Europe in addition to the
Baku-Tbilisi-Ceyhan Pipeline in
Central Asia .
The company has trading offices for
Crude Oil ,
Refined Petroleum Products and
Natural Gas Liquids in
London ,
UK ,
Stamford ,
USA and
Singapore .
Statoil operates petrol station services in
Denmark ,
Estonia ,
Latvia ,
Lithuania ,
Norway ,
Poland ,
Russia and
Sweden , a total of 2,000 stations in nine countries. Some fully automated stations are branded
1-2-3 . The stations in
Denmark and
Sweden were purchased from
Esso in
1985 while the stations in Ireland were purchased from
British Petroleum in
1992 and
ConocoPhilips Jet in the mid 90s, then sold by Statoil to
Topaz Oil in 2006.
In 2006, Statoil was approved to become the world's largest project to implement
Carbon Sequestration as a means to mitigate carbon emissions to the atmosphere.
:''see
Rotvoll Controversy
In
1991 there arose a controversy between Statoil and local enviromentalists, mainly from
Natur Og Ungdom and
Friends Of The Earth Norway , who protested the building of a new
Research And Development centre at
Rotvoll in
Trondheim ,
Norway ,
Wetlands area close to the city with significant bird life.. The controversy was climaxed with
Civil Disobedience by the environmentalists, but the centre was still built.
:''see
Statoil Corruption Case
The Statoil corruption case refers to the company's misconduct and use of corruption in
Iran in 2002/2003 in an attempt to secure lucrative oil contracts in that country. This was mainly achieved by hiring the services of Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President
Hashemi Rafsanjani . Horton Investments was paid
USD 15.2 million by Statoil to influence important political figures in Iran to grant oil contracts to Statoil. The corruption scandal was uncovered by Norwegian paper
Dagens Næringsliv on
September 3 ,
2003 .
