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Encyclopedia > Statoil
Statoil asa
Image:StatoilLogo.gif
Type Public
Founded 1972
Headquarters Stavanger, Norway
Key people CEO: Helge Lund
Chairman: Jannik Lindbæk
Industry Oil and gas
Products Oil
Natural gas
Petrochemicals
Revenue image:green up.png NOK 393 billion (2005)
Net income image:green up.png NOK 30.7 billion (2005)
Employees 25,644 (2005)
Website www.statoil.com
A Statoil petrol station sign in Estonia
Enlarge
A Statoil petrol station sign in Estonia

Statoil (OSE: STL, NYSE: STO) is a Norwegian petroleum company established in 1972. It is the largest petroleum company in the Nordic countries and Norway's largest company. While Statoil is listed on both the Oslo Stock Exchange and the New York Stock Exchange, the Norwegian state still holds majority ownership, with 70.9%. The main office is located in Norway's oil capital Stavanger. The name Statoil is a truncated form of the State's oil. Image File history File links StatoilLogo. ... A public company is a company owned by the public rather than by relatively few individuals. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... County Rogaland District Jæren Municipality NO-1103 Administrative centre Stavanger Mayor (2005) Leif Johan Sevland Official language form BokmÃ¥l Area  - Total  - Land  - Percentage Ranked 406 71 km² 68 km² 0. ... Helge Lund (born October 16, 1962) is the Chief Executive for the Statoil group, and former CEO of Aker Kværner ASA. Mr Lund graduated as a business economist at the Norwegian School of Economics and Business Administration in Bergen. ... Jannik Lindbæk (born 1939) is a Norwegian businessman and current chairman of the board of Statoil. ... Wikipedia does not yet have an article with this exact name. ... Pumpjack pumping an oil well near Sarnia, Ontario Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... Natural gas is a gaseous fossil fuel consisting primarily of methane. ... A petrochemical is any chemical derived from fossil fuel. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Green up arrow for a positive change in revenue from last fiscal year. ... ISO 4217 Code NOK User(s) Norway Inflation rate 2. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Green up arrow for a positive change in revenue from last fiscal year. ... ISO 4217 Code NOK User(s) Norway Inflation rate 2. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... This page as shown in the AOL 9. ... Download high resolution version (309x774, 39 KB) Wikipedia does not have an article with this exact name. ... Download high resolution version (309x774, 39 KB) Wikipedia does not have an article with this exact name. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... Pumpjack pumping an oil well near Sarnia, Ontario Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... Political map of the Nordic countries and associated territories. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... County Rogaland District Jæren Municipality NO-1103 Administrative centre Stavanger Mayor (2005) Leif Johan Sevland Official language form BokmÃ¥l Area  - Total  - Land  - Percentage Ranked 406 71 km² 68 km² 0. ...


Statoil is one of the largest net sellers of crude oil in the world, and a major supplier of natural gas to the European continent, Statoil also operates around 2000 service stations in 9 countries. The company's CEO from mid-2004 onwards is Helge Lund, formerly CEO of Aker Kværner. Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... Natural gas is a gaseous fossil fuel consisting primarily of methane. ... World map showing Europe A satellite composite image of Europe Europe is one of the seven traditional continents of the Earth. ... Modern gas station A filling station, gas station or petrol station is a facility that sells fuel for road motor vehicles – usually petrol (US: gas/gasoline), diesel fuel and LPG. The term gas station is mostly particular to the United States of America and Canada, where petrol is known... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Helge Lund (born October 16, 1962) is the Chief Executive for the Statoil group, and former CEO of Aker Kværner ASA. Mr Lund graduated as a business economist at the Norwegian School of Economics and Business Administration in Bergen. ... Aker Kværner is a leading global provider of engineering and construction services, technology products and integrated solutions. ...


In December 2006 Statoil revealed a proposal to merge with compatriate oil and gas company Norsk Hydro. Look up December in Wiktionary, the free dictionary. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... Norsk Hydro ASA is a Norwegian oil and energy and integrated aluminium company, headquartered in Oslo. ...

Contents

History

Den Norske Stats Oljeselskap A/S was founded as a private limited company owned by the Government of Norway on July 14, 1972 unanimously in the Norwegian parliament Stortinget. The political motivation was that one wanted Norwegian participation in the oil industry on the continental shelf and the possibility to build up Norwegian competency within petroleum industry to build the basis for a domestic petroleum industry. Statoil was required to discuss important issues with the Minister of Industry, later Minister of Oil and Energy. Statoil was also required to make an annual report to the parliament. The functions of the King of Norway are mainly ceremonial, but he has influence as the symbol of national unity. ... July 14 is the 195th day (196th in leap years) of the year in the Gregorian Calendar, with 170 days remaining. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... The Storting main building The Storting, or Stortinget, (the Great Assembly), is the parliament of Norway, and is located in Oslo. ...


In 1973 the company started work aquiring petrochemical industry. This resulted in the processing plants at Rafsnes and in partnership with Norsk Hydro the plant at Mongstad in 1980. In 1981 the company acquired, as the first Norwegian company, operator rights on the Norwegian continental shelf on the Gullfaks field. 1973 (MCMLXXIII) was a common year starting on Monday. ... Petrochemicals are chemical products made from raw materials of petroleum (hydrocarbon) origin. ... Norsk Hydro ASA is a Norwegian oil and energy and integrated aluminium company, headquartered in Oslo. ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... 1981 (MCMLXXXI) was a common year starting on Thursday of the Gregorian calendar. ...  Sediment  Rock  Mantle  The global continental shelf, highlighted in cyan The continental shelf is the extended perimeter of each continent, which is covered during interglacial periods such as the current epoch by relatively shallow seas (known as shelf seas) and gulfs. ... Gullfaks is an oil field in the Norwegian sector of the North Sea. ...


The company was privatised and made a public limited company in 2001, becoming listed on the Oslo Stock Exchange and the New York Stock Exchange. At the same time it changed its name to Statoil ASA. The initials PLC after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the public. ... This article is about the year 2001. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...


Proposed Merger with Hydro

 This article documents a current event.
Information may change rapidly as the event progresses.

On December 18, 2006 Statoil and Norsk Hydro announced a merger plan which would create the world's largest off shore oil and gas operator. Upon the completion of the merger, Statoil-Hydro will have a total output of 1.9 million barrels per day. The name of the new company is yet to be decided. Image File history File links Current_event_marker. ... In the Gregorian Calendar, December 18 is the 352nd day of the year (353rd in leap years), at which point there will be 13 days remaining to the end of the year. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... Norsk Hydro ASA is a Norwegian oil and energy and integrated aluminium company, headquartered in Oslo. ...


Statoil shareholders will obtain two-thirds of the new company as a result of the transaction, with the balance held by Hydro's shareholders. The Norwegian Government, the biggest shareholder in both companies, approves the planned merger, and is indeed expected to increase its shareholding in Statoil-Hydro from 62% to 67% [1]. Jens Stoltenberg, the Norwegian Prime Minister commented that he views the proposal as "the start of a new era. We are creating a global energy company and strengthening Norway’s oil and gas industry" [2]. Jens Stoltenberg (born March 16, 1959) is a Norwegian economist, leader (since 2002) of the Norwegian Labour Party and the current Prime Minister of Norway. ... A prime minister is the most senior minister of a cabinet in the executive branch of government in a parliamentary system. ...


It has been noted within the analyst community that a proposal will create a merged entity with much more competitive strength versus its much larger European rivals, including British Petroleum, Total and Shell, while also increasing the companies ability to make strategic acquisitions, particularly in the Gulf of Mexico [3]. It will be the ninth largest oil company in the world, and would be the 48 largest companies in the world on the current Fortune Global 500 list with a revenue of 480 billion NOK. [4]. This article is about the corporation known as BP. See also BP (disambiguation) BP (formerly British Petroleum and briefly known as BP Amoco) (NYSE: BP) is a petroleum company headquartered in London, United Kingdom. ... Look up shell in Wiktionary, the free dictionary. ... Gulf of Mexico in 3D perspective. ... The Fortune Global 500 is a ranking of the top 500 corporations as measured by revenue. ... This does not cite its references or sources. ...


The new company's management team will be led by Helge Lund (Statoil's President and CEO) as President and CEO, while Eivind Reiten, President and CEO of Hydro, will become Chairman. [5] Helge Lund (born October 16, 1962) is the Chief Executive for the Statoil group, and former CEO of Aker Kværner ASA. Mr Lund graduated as a business economist at the Norwegian School of Economics and Business Administration in Bergen. ... Eivind Kristofer Reiten (b. ...


The new company will shed Hydro's Aluminum division as a separate company. That company will keep the Hydro name and Eivind Reiten will stay on as CEO.


It is expected that, pending shareholder approval, the deal will close in the third quarter of 2007.


Operations

See Statoil operations by country

Statoil is the largest operator on the Norwegian continental shelf, with 60% of the total production. The field operated are Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Norne, Ormen Lange, Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve and Åsgard. The company also has processing plants at Kolsnes, Kårstø, Mongstad Tjeldbergodden and Melkøya. This article includes an overview over the Norwegian petroleum company Statoils operations in the respective countries. ... Ormen Lange, the largest natural gas field under development in Norwegian continental shelf, lies 100 km northwest of Kristiansund where seabed depths vary between 800 and 1,100 metres. ...


In addition to the Norwegian continental shelf, Statoil operates oil fields in Algeria, Angola, Azerbaijan, Brazil, China, Iran, Libya, Nigeria, United States and Venezuela. Statoil has offices that are looking for possible ventures in the countries of Egypt, Mexico, Qatar and United Arab Emirates. The company has processing plants in Belgium, Denmark, France and Germany.


Statoil is involved in a number of pipelines, including Zeepipe, Statpipe, Europipe and Franpipe from the Norwegian continental shelf to Western Europe in addition to the Baku-Tbilisi-Ceyhan pipeline in Central Asia. The Zeepipe is a natural gas transportation system to transport North Sea natural gas to the receiving terminal at Zeebrugge in Belgium. ... The Franpipe is a 840 kilometer long natural gas pipeline from the Draupner E riser in the North Sea to the receiving terminal at Port Ouest in Dunkirk in France. ... A common understanding of Western Europe in modern times. ... The Baku-Tbilisi-Ceyhan pipeline (sometimes abbreviated as BTC pipeline) transports crude oil 1,776 km from the Azeri-Chirag-Guneshli oil field in the Caspian Sea to the Mediterranean Sea. ... Map of Central Asia showing three sets of possible boundaries for the region Central Asia located as a region of the world Central Asia is a vast landlocked region of Asia. ...


The company has trading offices for crude oil, refined petroleum products and natural gas liquids in London, UK, Stamford, USA and Singapore. Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... Natural gas liquids are the liquids that, combined with methane, form natural gas. ... London (pronounced ) is the capital city of the United Kingdom and the largest city of England (strangely, England has no constitutional existence within the United Kingdom, and therefore cannot be said to have a capital). ... Stamford is a town located in Delaware County, New York. ...


Statoil operates petrol station services in Denmark, Estonia, Latvia, Lithuania, Norway, Poland, Russia and Sweden, a total of 2,000 stations in nine countries. Some fully automated stations are branded 1-2-3. The stations in Denmark and Sweden were purchased from Esso in 1985 while the stations in Ireland were purchased from British Petroleum in 1992 then sold by Statoil to Topaz Oil in 2006. (Redirected from 1-2-3) Lotus 1-2-3 is a spreadsheet program from Lotus Software (now part of IBM). ... An Esso Station in Toronto Esso in Higashi-Osaka Esso is an international trade name used by ExxonMobil and its related companies. ... 1985 (MCMLXXXV) was a common year starting on Tuesday of the Gregorian calendar. ... This article is about the corporation known as BP. See also BP (disambiguation) BP (formerly British Petroleum and briefly known as BP Amoco) (NYSE: BP) is a petroleum company headquartered in London, United Kingdom. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ...


Merger

On monday 18th of december Statoil and Norsk Hydro announced that they would merge their oil and gas interests into a newly merged company. Norsk Hydro ASA is a Norwegian oil and energy and integrated aluminium company, headquartered in Oslo. ...


Trivia

On 2 October 2006 the singer and musician Katie Melua entered the Guinness Book of Records for playing the deepest underwater concert 303 meters below sea level on Statoil's Troll A platform in the North Sea [6]. October 2 is the 275th day (276th in leap years) of the year in the Gregorian Calendar, with 90 days remaining. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... Ketevan Katie Melua (Georgian: , surname pronounced IPA: //; born 16 September 1984) is a British singer and musician, who was born in Georgia, but moved to Northern Ireland at the age of eight and then relocated to England at the age of 14. ... Suresh Joachim, minutes away from breaking the ironing world record at 55 hours and 5 minutes, at Shoppers World, Brampton. ... It has been suggested that this article or section be merged into Troll oil field. ... The North Sea is a sea of the Atlantic Ocean, located between the coasts of Norway and Denmark in the east, the coast of the British Isles in the west, and the German, Dutch, Belgian and French coasts in the south. ...


External links

  • Corporate website

  Results from FactBites:
 
Statoil - Wikipedia, the free encyclopedia (562 words)
Statoil is one of the largest net sellers of crude oil in the world, and a major supplier of natural gas to the European continent, Statoil also operates around 2000 service stations in 9 countries.
Statoil was required to discuss important issues with the Minister of Industry, later Minister of Oil and Energy.
Statoil is involved in a number of pipelines, including Zeepipe, Statpipe, Europipe and Franpipe from the Norwegian continental shelf to Western Europe in addition to the Baku-Tbilisi-Ceyhan pipeline in Central Asia.
Statoil (1444 words)
Statoil Estonia’s (hereinafter Statoil) customer card based upon the principle of advance payments (hereinafter the debit card) and Statoil’s credit-based customer card (hereinafter the credit card) are cards issued by Statoil and are valid as payment facilities at all Statoil’s Estonian service, dealer and other stations (hereinafter service stations) announced to the customer by Statoil.
In case of necessity, Statoil shall be entitled to make amendments to the terms and conditions of the agreement upon notifying the customer in writing at least 15 (fifteen) days in advance and at least 30 (thirty) days in advance when this concerns changes in the customer’s financial commitments.
If any invoices issued by Statoil are overdue Statoil shall be entitled to claim and the customer shall undertake to pay a fine for delay of 0,16% (zero point sixteen percent) of the overdue amount for each delayed calendar day starting from the first day after the term of payment.
  More results at FactBites »

 
 

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