Statoil’s board of directors has proposed that the Norwegian major changes its name to Equinor to reflect a stronger focus on renewable energy and social justice

Statoil to go green with name change

Norway

STAVANGER, March 15, 2018 – Statoil’s board of directors has proposed that the Norwegian major changes its name to Equinor to reflect a stronger focus on renewable energy and social justice, the company announced on Thursday.

“The name Equinor is formed by combining ‘equi’, the starting point for words like equal, equality and equilibrium, and ‘nor’, signalling a company proud of its Norwegian origin, and who wants to use this actively in its positioning,” Statoil said in a statement.

The name change, which quickly won the endorsement of five unions representing the NOC’s employees, will be discussed at the company’s annual general meeting on May 15, 2018, the statement added.

“Equinor is a powerful expression of who we are, where we come from and what we aspire to be,” said Eldar Sætre, Statoil’s president and CEO.

“We are a values-based company, and equality describes how we want to approach people and the societies where we operate. The Norwegian continental shelf will remain the backbone of our company, and we will use our Norwegian heritage in our positioning as we continue growing internationally within both oil, gas and renewable energy.”