Statoil Name Change Scrubs ‘Oil’ to Tackle Energy Transition - Bloomberg
Statoil ASA, Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production.
“The world is changing, and so is Statoil,” said Chairman Jon Erik Reinhardsen in a statement. “The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development.”
The name reflects the starting point for equal, equality and equilibrium, and “nor,” to signal the company’s Norwegian origin, according to Statoil, which is 67 percent controlled by the government.