Statoil

Statoil - Den norske stats oljeselskap a.s - is one of the world's largest net sellers of crude oil, and a substantial supplier of natural gas to Europe. It ranks as the biggest retailer of petrol and other oil products in Scandinavia.

The group is the leading player on the Norwegian continental shelf, and has gradually expanded its international upstream operations in recent years.

Statoil's object is, either by itself of through participation in or together with other companies, to carry out exploration, production, transport, refining and marketing of petroleum and petroleum-derived products, as well as other business.

The group is responsible for managing the state's direct financial interest (SDFI) in partnerships engaged in exploration for as well as development, production and transport of oil and gas on the Norwegian continental shelf.

Founded in 1972, Statoil is wholly-owned by the Norwegian state. Net operating revenue for the group in 1998 totalled NOK 107 billion. It had the equivalent of about 18,000 full-time employees at 31 December.

Statoil operates in the following countries:
Norway, Sweden, Denmark, Germany, Poland, Estonia, Latvia, Lithuania, the UK, Ireland, Belgium, France, Russia, Vietnam, Malaysia, Singapore, Azerbaijan, Kazakstan, Angola, Nigeria, the USA, Australia, China and Venezuela.

Address: N-4035
Stavanger,
Norway
Contact: +47 51 99 00 00

www.statoil.com


Recent Articles

Statoil Second Quarter Lags Forecasts, Cuts 2016 Capex Outlook
Wednesday, July 27, 2016 Norway's Statoil cuts its 2016 capital spending guidance as it posts earnings well below forecasts.
North Sea Decom: Claxton Secures Statoil Deal
Wednesday, July 27, 2016 Statoil awards Claxton Engineering Services a contract to provide 'rigless recovery' of seven abandoned wells at the Huldra platform in the Norwegian North Sea.
British Oil Major BP Pursues New Projects Despite Profit Miss
Tuesday, July 26, 2016 BP will forge ahead with at least three more new projects this year, its CEO says, despite reporting a 45 percent drop in second-quarter earnings that prompted a cut in its 2016 investment budget to below $17 billion.
Norway to Examine Competition Conditions in Oil Industry
Wednesday, July 20, 2016 Norway's competition watchdog will look into whether competition rules are being infringed in the country's oil industry, the industry ministry says.
Statoil, BP Remain Committed to Algeria Despite Violence
Wednesday, July 13, 2016 With strengthened safety measures in place, Statoil and BP pledge their commitment to Algeria despite militant attacks on their facilities in the North African nation.
Norway Oil Workers Agree Wage Deal, Avoid Strike
Saturday, July 02, 2016 Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike that would have cut the output from western Europe's top oil and gas producer by about 6%.
Lundin Completes Edvard Grieg Acquisition
Friday, July 01, 2016 Lundin Petroleum AB completes the acquisition of an additional 15% interest in the Edvard Grieg field, PL338 and interests in associated pipeline assets, from Statoil Petroleum AS.
Statoil to Keep Fields Operating Even if Norway Oil Workers Strike
Wednesday, June 29, 2016 Statoil will initially keep oilfields operating even if negotiations set for June 30 to July 1 fail to avert a strike that would halt output at others.
Statoil Acquires JX Nippon Utgard Stake
Tuesday, June 28, 2016 Statoil acquires JX Nippon's 45% equity share in, and operatorship of, the UK license for the Utgard field.
Wood Group Secures Services Contract for Peregrino Field
Tuesday, June 28, 2016 Wood Group secures a multimillion dollar contract to provide detailed engineering, design, and procurement services to SAH for the development of the Peregrino field, offshore Brazil.
Union Warns Statoil Not to Scale Back Agreements
Tuesday, June 28, 2016 Norwegian oil major Statoil must halt attempts to scale back existing labor agreements if it wants to prevent a strike that would hit output from July 2, a trade union says.
Algeria Oil And Gas Output On The Rise
Sunday, June 26, 2016 Algeria's oil and gas output is moving back to growth after years of stagnation.
Statoil to Launch Training Tool for 50th Anniversary
Friday, June 24, 2016 Statoil will launch a historical fact-based research project for its 50th anniversary in 2022, which will form a professional training tool for coming generations.
Statoil, Partners Study Troll Post-2020 Output Expansion
Monday, June 20, 2016 Norwegian oil firm Statoil and its partners are studying the possibilities of expanding gas production at Norway's biggest field, Troll, after 2020.
Norway's Oil Industry Faces High Risk of July Strike, Union Says
Monday, June 13, 2016 Wage negotiations between Norwegian oil and gas firms and their employees will be particularly difficult this year and may lead to a strike that would limit output from Western Europe's top producer, a labor union says.
Statoil May Consider Pemex Partnerships in Deep Waters, VP Says
Monday, June 13, 2016 Statoil may seek to partner with Pemex in Mexico's deepwater fields as the producer looks to gain a foothold in the country's recently opened energy market.
BP And Det Norske Agree $1.3B Norwegian Oil Merger
Friday, June 10, 2016 BP and Det norske agree to merge their Norwegian businesses in a $1.3 billion share deal to cut costs, increase profitability and challenge Statoil's Norwegian offshore dominance.
Statoil Completes Canada Exploration Program, Finds Oil
Friday, June 10, 2016 Statoil, along with its partners, discovers oil offshore Canada as it finalizes a 19-month exploration drilling program.
Statoil Makes Minor Gas Discovery in North Sea
Thursday, June 09, 2016 Statoil Petroleum AS makes a minor gas/condensate discovery in well 30/11-13, located in the North Sea.
Statoil Secures Additional Stake in Utgard Field UK License
Friday, June 03, 2016 Statoil agrees to acquire JX Nippon's 45% equity share in, and operatorship of, the UK license for the Utgard field.