The board of directors of Statoil proposes to change the name of the company to Equinor. 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 the company’s Norwegian origin.
The new name will be proposed to shareholders in a resolution to the Annual General Meeting on 15 May, 2018. The Norwegian government, as majority shareholder, supports the proposal and will vote in favour of the resolution.
Statoil’s strategy presented in 2017, sets clear principles for the development of a distinct and competitive portfolio. Statoil will develop long-term value on the Norwegian continental shelf, deepen in core areas and develop new growth options internationally.