Equinor

Equinor ASA, formerly Statoil, is a Norwegian state-owned multinational energy company headquartered in Stavanger. Founded in 1972 as a partnership between the Norwegian state and the British Petroleum company to develop offshore oil resources in the Norwegian sector of the North Sea, it became fully Norwegian-owned in 1984. The company changed its name to Equinor in 2018, reflecting a broader focus on the entire energy transition, including renewables and green hydrogen.

Equinor operates in more than 30 countries, with core activities in upstream exploration and production, midstream transportation and storage, and downstream refining and marketing of oil and natural gas. It also has a growing portfolio of offshore wind projects, such as the Hywind Tampen floating wind platform, and invests in electrolysis plants for green hydrogen. As of 2023, Equinor reported annual revenues of approximately 154 billion Norwegian krone, with a workforce of around 18,000 employees.

The company is listed on the Oslo Stock Exchange and is a constituent of the OECD’s Global 100 Index. While primarily owned by the Norwegian government, it is also traded on several international exchanges. Equinor’s strategic objectives include reducing its carbon footprint, increasing renewable energy investments, and advancing technology for low‑carbon fuels such as e‑methanol and blue hydrogen.

Controversies have surfaced over the past decades, notably regarding offshore drilling safety, environmental impacts of oil spills, and subsidies received from the Norwegian state. In 2019, Equinor was cited for non‑compliance with the Norwegian oil and gas carbon pricing scheme. The company has since pledged to achieve net‑zero emissions by 2050 and to divest from conventional oil and gas assets gradually.