A Norwegian petroleum company established in 1972. It is a large petroleum exploration and production company in the Nordic countries and Norway's largest company, employing over 25000 people. While Statoil is listed on both the Oslo Stock Exchange and the New York Stock Exchange, the Norwegian state still holds majority ownership, with 64%. The main office is located in Norway's oil capital Stavanger. The name Statoil is a truncated form of the State's oil. A major supplier of natural gas to the European continent, Statoil also operates around 2000 service stations in 9 countries.

Den Norske Stats Oljeselskap A/S was founded as a private limited company owned by the Government of Norway on July 14, 1972 by a unanimous act passed by the Norwegian parliament Stortinget. The political motivation was Norwegian participation in the oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to establish the foundations of a domestic petroleum industry. The company was privatized and made a public limited company in 2001. Wikipedia

Statoil - Exploration Platform

This Norwegian oil company operates exploration oil fields in Algeria, Angola, Azerbaijan, Brazil, China, Iran, Libya, Nigeria, United States and Venezuela. Also this Norwegian oil company 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.

Wikipedia

Statoil Hydro

Norsk Hydro

Rigzone

Statoil

Norsk Hydro Merger:

In December 2006 this Norwegian oil company revealed a proposal to merge with the oil business of Norsk Hydro, a Norwegian conglomerate.

The Board of Directors of Hydro and Statoil agreed to recommend to their shareholders a merger of Norsk Hydro's activities with the Norwegian oil company, creating the world's largest offshore operator with a strengthened platform for future growth. The new company will have a combined production of 1.9 million barrels per day in 2007 and proven oil and gas reserves of 6.3 billion barrels of oil equivalents. Norsk Hydro

Statoil and Venezuela:

This Norwegian oil company established a presence in Venezuela in 1995. Venezuela has the largest oil reserves in the western hemisphere. Statoil is the operator of Block 4 in the Plataforma Deltana area of Venezuela's eastern coast (Plataforma Deltana is part of the Orinoco Petroleum Belt). This block was awarded to the group in February 2003 through a competitive bidding process.

Statoil has a 15% interest in Sincor, the most successful extra-heavy crude project in Venezuela. It covers the whole value chain from producing heavy crude on land at the Junin block, also in the Orinoco Belt, upgrading it to a light, low-sulfur crude at the refinery in Jose, and marketing this crude in international markets. Statoil Hydro

This Norwegian oil company continues to invest in the Deltana project despite contract uncertainty. President Hugo Chavez has floated the ideas of taking majority stakes in natural gas operations and altering marketing contracts to direct supplies to the local market, where the oil ministry sets prices. Rigzone