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Statoil ASA now Equinor ASA

By: Sue Allen 16/05/2018 Equinor ASA

General Windfarms

Equinor ASA (OSE: EQNR, NYSE: STO), the new name of Statoil ASA, was approved by the annual general meeting held yesterday, 1the5 May 2018, and the new name has now been registered in the Norwegian register of business enterprises (Foretaksregisteret). The company's shares from 16th May 2018 (inclusive) will be quoted on Oslo Børs with the new name and the new ticker EQNR.

The board of directors of Statoil proposed to change the name of the company to Equinor on 15th March this year. The name change supports the company’s strategy and development as a broad energy company. 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.

“The world is changing, and so is Statoil. The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development. Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always safe, high value and low carbon strategy we outlined last year,” said chair of the board in Statoil, Jon Erik Reinhardsen.

“For us, this is a historic day (15 March 2018). Statoil has for almost 50 years served us well. Looking towards the next 50 years, reflecting on the global energy transition and how we are developing as a broad energy company, it has become natural to change our name. The name Equinor captures our heritage and values, and what we aim to be in the future,” says Statoil’s President and CEO Eldar Sætre.

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Statoil ASA now Equinor ASA

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