Statoil ASA ( Statoil ASA )

Statoil ASA

Statoil ASA's picture

Statoil ASA, (OSE: STL), is a Norwegian multinational oil and gas company headquartered in Stavanger, Norway. It is a fully integrated petroleum company with operations in thirty-six countries. By revenue, Statoil is ranked by Forbes Magazine (2013) as the world's eleventh largest oil and gas company and the twenty-sixth largest company, regardless of branch, by profit in the world.[3] The company has about 23,000 employees.[2]

Statoil was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro.[4]

Per 2013, the Government of Norway is the largest shareholder in Statoil with 67% of the shares, while the rest is public stock. The ownership interest is managed by the Norwegian Ministry of Petroleum and Energy.[5] Even though the company is headquartered in Stavanger, the company's office in Bærum has corporate functions and leads the international operations.[6]