Equinor ASA (formerly Statoil) history, company profile (overview) and history video
Equinor ASA (formerly Statoil and StatoilHydro) is a Norwegian multinational energy company headquartered in Stavanger, Norway.
HISTORY
Equinor was founded as StatoilHydro in 2007 when Statoil merged with the oil and gas division of Norsk Hydro.
In 2009, StatoilHydro changed its name to Statoil ASA. The Norwegian meaning of the name Statoil indicates that the oil company is state-owned.
In 2018, Statoil ASA became Equinor ASA. The name Equinor is formed by combining “equi”, the reference to equal, equality and equilibrium, and “nor”, the reference to the company’s Norwegian origin.
Equinor’s history derives from three Norwegian petroleum companies Statoil, Norsk Hydro, and Saga Petroleum.
The formerly Statoil was founded as the Norwegian State Oil Company (Den Norske Stats Oljeselskap A/S) in 1972.
Financed by the Swedish Wallenberg family and French banks, Norsk Hydro was founded as Norsk hydro-elektrisk Kvælstofaktieselskab in 1905.
In 1965, Hydro formed Petronord alongside Elf Aquitaine and six other French companies and became one of the largest companies in the North Sea petroleum industry.
Saga Petroleum, one of Norway’s largest petroleum companies, was founded in 1962. Saga Petroleum was acquired by Hydro in 1999.
OPERATIONS
The company operates through the following business segments: Exploration, Fields & platforms, Oil, Natural gas, Trading, transport & shipping, Terminals & refineries, Renewables & CCS, and Decommissioning on the NCS.
Exploration
The Exploration segment involves exploration activities for new oil and gas fields.
Fields & platforms
The Fields & platforms segment covers a worldwide geographical presence with a portfolio of oil and gas fields.
Oil
The Oil segment provides crude oil and condensate (light oil), as well as substantial processing and refining operations.
Natural gas
In the Natural Gas segment, Equinor is considered one of the largest gas producers on the Norwegian continental shelf, and one of the largest gas suppliers in Europe.
Trading, transport & shipping
The Trading, transport & shipping segment involves the trading of crude oils, petroleum products, methanol, natural gas, and power and emission allowances all over the world.
Terminals & refineries
The Terminals & refineries segment involves terminals and refineries in and outside Norway. The facilities are capable of providing intermediate storage and processing capacity for crude oil into high-quality diesel, heating oil and propane for consumers in Europe, North America and Asia.
Renewables & CCS
The Renewables & CCS segment comprises renewable offshore wind, solar power, and low-carbon solutions such as hydrogen and the emissions reduction technology CCS (Carbon Capture and Storage).
Decommissioning on the NCS
The Decommissioning on the NCS segment consists of making new discoveries and removing older installations on the Norwegian continental shelf (NCS).
With more than 20,000 employees in more than 30 countries, Equinor is considered one of the world’s largest offshore operators. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.equinor.com
**Video published on YouTube by “Companies History“.
