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
Contact: +47 51 99 00 00

Recent Articles

Eastern Europe Focused Energy Firms Increase CAPEX
Tuesday, November 24, 2015 Nostrum Oil & Gas and PJSOC Bashneft increase capital expenditure in 9M 2015, bucking the trend of CAPEX reduction among energy firms amid the current lower oil price.
The Upstream Investment Outlook of European Oil, Gas Firms
Tuesday, November 24, 2015 Rigzone looks at the current state of upstream investment among European oil and gas firms.
Statoil Receives Consent to Drill North Sea Well
Monday, November 23, 2015 The Petroleum Safety Authority Norway grants Statoil consent to drill exploration well 30/89 S, located on the Oseberg field in the North Sea.
Statoil CEO: Oil, Gas Will Remain 'Critically Important' Through to 2040
Monday, November 23, 2015 Statoil CEO Eldar Saetre says oil and gas will remain "critical important" energy resources through to 2040 in Oslo speech.
Statoil Makes Minor Discovery in North Sea
Friday, November 20, 2015 Statoil Petroleum AS makes a minor gas/oil/condensate discovery at exploration well 34/8-16 S in the North Sea.
Shell To Decide On Ormen Lange Subsea Compression In 2016
Thursday, November 19, 2015 Shell plans to decide next year whether to resume installing subsea compressors at its giant Ormen Lange field offshore Norway, after stopping the project last year to save costs.
Statoil To Decide On Snorre 2040 Development Concept Next Autumn
Wednesday, November 18, 2015 Statoil will decide next autumn on how to upgrade the Snorre oil and gas field in the North Sea, according to a company executive.
Market Conditions Prompt Statoil Exit from Chukchi Sea
Tuesday, November 17, 2015 Despite its decision to exit Chukchi Sea, Statoil still sees great potential for Alaska and the Arctic in general.
Statoil Tops $969M of Bids Pledged for Canada Offshore
Friday, November 13, 2015 Statoil is the most active bidder for exploration licenses off Canada's Atlantic Coast as some of the world’s largest producers commit to spend about $969 million for the prospect of long-term growth.
Statoil Could Lose 5% of Agbami Interest Following Expert Calculation
Friday, November 06, 2015 Statoil's equity interest in the Agbami field, located offshore Nigeria, could be reduced by 5.17% following an expert calculation of revised tract participations for the field.
NPD Grants Start-up Consents for North Sea Oil, Gas Pipelines
Friday, November 06, 2015 The Norwegian Petroleum Directorate grants start-up consents for the Edvard Grieg oil pipeline and the Utsira High gas pipeline, which will serve the Edvard Grieg and Ivar Aasen fields in the North Sea.
Songa Produces Robust 3Q 2015 Operating Profit
Friday, November 06, 2015 Songa Offshore produces a strong operating profit and highlights a strong order book thanks to its new 'Cat D' rigs.
'Peak Demand' Means World May Never See Oil at $100 a Barrel Again
Thursday, November 05, 2015 Industry executives say they believe it is demand, rather than supply, that is nearing its apex.
Jacktel AS Secures Johan Sverdrup Accommodation Services Contract
Wednesday, November 04, 2015 Jacktel AS secures a contract from Statoil to provide accommodation services on the Johan Sverdrup field.
Statoil Gas Production Capacity Seen Down by 25 MCM/Day on Thursday
Wednesday, November 04, 2015 Norway's Statoil says its gas production capacity will be reduced by 880 million cubic feet per day on Thursday due to platform problems.
Rig 'Graveyard' Looms as Statoil Cuts North Sea Drillers Loose
Tuesday, November 03, 2015 The pressure is building on North Sea drillers starved of contracts as Statoil deepens cuts in investment to cope with a collapse in crude prices.
Yergin Sees Oil Price Near Bottom as US Output Set to Fall
Tuesday, November 03, 2015 Oil is near a bottom and global supplies look poised to close their gap with demand as investments in new production decline and consumption grows, according to Pulitzer Prize-winning author Daniel Yergin.
Statoil to Invest $236M in Floating Wind Farm off Scotland
Tuesday, November 03, 2015 Statoil will invest $236 million in building a floating wind farm off the Scottish coast, the Norwegian oil firm says.
Petoro: Cash Flow from Norway O&G SDFI Decreases YOY
Tuesday, November 03, 2015 Net cash flow from the Norwegian state's direct financial interest in oil and gas operations on the Norwegian Continental Shelf reduces by $234.73 million, to $1.99 billion, year on year in 3Q 2015.
Russian Oil Output in October Hits Post-Soviet High
Monday, November 02, 2015 Russian oil production hits a post-Soviet high in October, rising 0.4 percent month on month to 10.78 million barrels per day.