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The board of directors of Norwegian oil and gas group Statoil, the national oil company, has approved a company name change plan to officially adopt the name
Equinor ASA.
As previously announced, Statoil wanted a new name that would better reflect its strategy
of operating as a broad energy company.
Equinor was officially adopted
on May 16.
Statoil is involved in renewable energy development that currently includes hydropower, onshore wind and solar energy
.
The company exited the offshore wind industry
in December 2017.
Its main business is oil and gas exploration and production
.
The Norwegian government holds a majority stake
in the group.
Norwegian multinational oil and gas company Statoil announced its intention to change its name to Equinor, "Equinor" was formed by combining "equi", which stands for equality, equality and balance; "NOR" is a signal that a company that prides itself on its Norwegian roots and wants to actively take advantage of its positioning
.
"The world is changing, and so is Statoil," Jon Erik Reinhardsen, chairman of the board of Statoil
, explained in March.
"The biggest transformation of our modern energy system to date is underway, and we aim to be at the forefront
of this development.
" Our strategy remains steadfast
.
The name Equinor reflects the changes that are taking place and supports our Always Safe, High Value and Low Carbon strategy
that we presented last year.
”
Currently, energy companies and utilities around the world are looking to shift not only from dependence on fossil fuels, but also to ensure that the world knows they are doing so
.
In October 2017, Danish energy giant DONG Energy announced that it would change its name to Ørsted
.
In late March, Swedish power company Vattenfall made a decision to change its logo
.
The board of directors of Norwegian oil and gas group Statoil, the national oil company, has approved a company name change plan to officially adopt the name
Equinor ASA.
As previously announced, Statoil wanted a new name that would better reflect its strategy
of operating as a broad energy company.
Equinor was officially adopted
on May 16.
Statoil is involved in renewable energy development that currently includes hydropower, onshore wind and solar energy
.
The company exited the offshore wind industry
in December 2017.
Its main business is oil and gas exploration and production
.
The Norwegian government holds a majority stake
in the group.
Norwegian multinational oil and gas company Statoil announced its intention to change its name to Equinor, "Equinor" was formed by combining "equi", which stands for equality, equality and balance; "NOR" is a signal that a company that prides itself on its Norwegian roots and wants to actively take advantage of its positioning
.
"The world is changing, and so is Statoil," Jon Erik Reinhardsen, chairman of the board of Statoil
, explained in March.
"The biggest transformation of our modern energy system to date is underway, and we aim to be at the forefront
of this development.
" Our strategy remains steadfast
.
The name Equinor reflects the changes that are taking place and supports our Always Safe, High Value and Low Carbon strategy
that we presented last year.
”
Currently, energy companies and utilities around the world are looking to shift not only from dependence on fossil fuels, but also to ensure that the world knows they are doing so
.
In October 2017, Danish energy giant DONG Energy announced that it would change its name to Ørsted
.
In late March, Swedish power company Vattenfall made a decision to change its logo
.