Editing History of Statoil (1972–2007)

{{Short description|none}}
{{Use dmy dates|date=March 2025}}
{{About|the company's history prior to the merger with Norsk Hydro|the current company|Equinor}}
{{Use dmy dates|date=August 2019}}
{{Infobox company
| name = Statoil ASA
| former_name = Den Norske Stats Oljeselskap A/S (1972–2001)
| logo = Statoil 2007 logo.svg
| caption = 
| fate = merged with [[Norsk Hydro]] division, and later renamed
| successor = [[Equinor]]
| foundation = {{sda|1972|07|14|df=y}}
| defunct = {{end date|2007|10|01|df=y}}
| location = [[Stavanger]], Norway
| industry = [[Oil companies|Oil and gas]]
| key_people = 
| products = Oil<br>Natural gas<br>[[Petrochemicals]]
| num_employees = 
| parent = 
| subsid = 
}}

[[Image:Statoil-Estonia.jpg|thumb|150px|right|A Statoil petrol station sign in [[Estonia]]]]

'''Statoil ASA''' was a Norwegian petroleum company established in 1972. It merged with the [[Hydro Oil & Gas|oil and gas division]] of [[Norsk Hydro]] in 2007 and was known as [[StatoilHydro]] until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of [[Statoil Fuel & Retail|fuel stations]] owned by StatoilHydro. Statoil was the largest petroleum company in the [[Nordic countries]]. In the 2013 [[Fortune 500]], Statoil was ranked as the 39th -largest company in the world.<ref>{{cite web | url= https://fortune.com/global500/2013/statoil-asa/ | title= Fortune 500 | access-date= 10 October 2020}}</ref> While Statoil was listed on both the [[Oslo Stock Exchange]] and the [[New York Stock Exchange]], the Norwegian state still held majority ownership, with 64%. The company's headquarters are located in Norway's oil capital [[Stavanger]]. The name Statoil was a truncated form of ''the State's oil (company)''.

Statoil was 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 operated around 2000 [[gas station|service stations]] in 9 countries. The company's [[Chief Executive Officer|CEO]] from mid-2004 onwards was [[Helge Lund]], formerly CEO of [[Aker Kværner]].

==History==

===Early years===
'''Den Norske Stats Oljeselskap A/S''' (''Norwegian State Oil Company'') was founded as a private limited company owned by the [[Government of Norway]] on 14 July 1972 by a unanimous act passed by the [[Storting]], the Norwegian parliament. 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. Statoil was required to discuss important issues with the [[Norwegian Minister of Industry|Minister of Industry]], later [[Minister of Petroleum and Energy (Norway)|Minister of Petroleum and Energy]]. Statoil was also required to submit an annual report to the parliament.

In 1973, the company started work acquiring a presence in the [[petrochemical industry]]. This resulted in the development of processing plants in [[Rafsnes]] and, in partnership with [[Norsk Hydro]], the [[Mongstad]] plant in 1980. In 1981 the company acquired, as the first Norwegian company, operator rights on the [[Norwegian continental shelf]] on the [[Gullfaks]] field. 1987–88 saw the largest scandal in the companies history, the [[Mongstad scandal]] that made the until then unassailable CEO [[Arve Johnsen]] withdraw.

===Privatization===
The company was privatised and made a [[public limited company]] ([[allmennaksjeselskap]]) in 2001, becoming listed on both the [[Oslo Stock Exchange]] and the [[New York Stock Exchange]]. At the same time it changed its name to '''Statoil ASA'''.

===Merger with Hydro===
{{main|StatoilHydro}}
In December 2006 Statoil revealed a proposal to merge with the oil business of [[Norsk Hydro]], a Norwegian conglomerate.<ref>[http://www.hydro.com/cgi-bin/www.hydro.com/show_press_rel.cgi?file=/en/press_room/press_releases/archive/2006_12/2768/2768_en.html Hydro's oil and gas activities to merge with Statoil]{{dead link|date=November 2017 |bot=InternetArchiveBot |fix-attempted=yes }}, ''Norsk Hydro'', published  2006-12-18, accessed 20 June 2007</ref> Under the rules of the [[European Economic Area|EEA]] the proposal was approved by the European Union on 3 May 2007<ref name="EUB070305">[http://www.eubusiness.com/Energy/statoil-norsk.44/ EU regulators approve Statoil, Norsk Hydro merger], ''EU Business'', published 2007-05-03, accessed 20 June 2007</ref> and by the [[Storting|Norwegian Parliament]] on 8 June 2007.<ref name="OR070611">[http://www.ocean-resources.com/news/ournews.asp?NewsID=5709 Norwegian Parliament Okays Statoil-Hydro Merger] {{webarchive|url=https://web.archive.org/web/20071122174703/http://www.ocean-resources.com/news/ournews.asp?NewsID=5709 |date=22 November 2007 }}, ''Ocean-Resources'', published 2007-06-11, accessed 20 June 2007</ref> Former Statoil's shareholders hold 67.3% of the new company [[StatoilHydro]], which started operations on 1 October 2007.<ref name="EUB070305" /><ref name="OR070611" /> The company is the biggest offshore oil and gas company in the world.<ref name="OR070611" />

In November 2009, StatoilHydro changed its name to simply Statoil, following a prolonged name debate that sparked considerable public interest.<ref>{{Cite web|url=https://www.petroleumafrica.com/statoilhydro-changes-name-to-statoil-launches-new-logo/|title=StatoilHydro Changes Name to Statoil Launches New Logo {{!}} Petroleum Africa|website=www.petroleumafrica.com|access-date=2018-04-26}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/statoilhydro-name-idUSL2031461720071220|title=StatoilHydro to postpone name change until 2009|author=Reuters Editorial|work=U.S.|access-date=2018-04-26|language=en-US}}</ref>

==Environmental record==
Statoil had three oil spills in Arctic waters near Norway.  All the spills occurred from its ocean rig called the Erik Raude.  The company was searching for oil in the region, which environmentalists were against because they wanted the sensitive area free from pollution.  However, the Norwegian government allowed oil exploration, as long as there were no emissions.<ref name=enn20050413>{{cite web |url=http://www.enn.com/top_stories/article/15989 |author=Environmental News Network |title=Norway's Statoil Shuts Down Oil Drilling Rig After Arctic Oil Spill |date=13 April 2005}}</ref>  After the merger to StatoilHydro, in December 2007, {{convert|25000|oilbbl}} of oil leaked into the North Sea.  This was Statoil's 2nd worst oil spill.<ref>{{cite web |url=https://www.reuters.com/article/rbssEnergyNews/idUSL1415001920071214?pageNumber=1&virtualBrandChannel=0 |title=North Sea oil spill off Norway largely "dissolved" |author=Reuters |author-link=Reuters |date=14 December 2007}}</ref>  Two leaks also occurred in February 2008.  In March, Statoil dropped about 1.6 tons of pure hydraulic oil in the Barents Sea.  Hydraulic oil is said to be the 2nd most hazardous pollutant.<ref name=aftenposten20050413>{{cite web |url=http://www.aftenposten.no/english/local/article1016676.ece |title=Bellona files charges after oil spill |author=Aftenposten |author-link=Aftenposten |date=13 April 2005 |url-status=dead |archiveurl=https://web.archive.org/web/20100821181955/http://www.aftenposten.no/english/local/article1016676.ece |archivedate=21 August 2010  }}</ref>  Since the leaks, Statoil has stated that the oil has mostly dissolved, and there is not much proof of ecological harm.  The Norwegian government has not stopped the oil drilling in the Arctic waters, and Statoil started up its oil operations in April 2005.<ref name=enn20050413 /> [[Bellona Foundation|Bellona]], a Norwegian environmental group, is looking to take legal action.  They want the end of oil drilling in the Barents Sea.<ref name=aftenposten20050413 />

==Controversy and corruption==

===Rotvoll controversy===
{{main|Rotvoll controversy}}
In 1991 there arose a controversy between Statoil and local environmentalists, mainly from [[Natur og Ungdom]] and [[Friends of the Earth Norway]], who protested the building of a new [[research and development]] centre at [[Rotvoll]] in [[Trondheim]], Norway, [[wetlands]] area close to the city with significant bird life. The controversy was climaxed with [[civil disobedience]] by the environmentalists, but the centre was still built.

===Statoil corruption case===
{{further|Statoil corruption case}}

The Statoil corruption case refers to the company's misconduct and use of corruption in [[Iran]] in 2002/2003 in an attempt to secure lucrative oil contracts in that country. This was mainly achieved by hiring the services of Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President [[Hashemi Rafsanjani]]. Horton Investments was paid US$15.2 million by Statoil to influence important political figures in Iran to grant oil contracts to Statoil. The corruption scandal was uncovered by Norwegian paper [[Dagens Næringsliv]] on 3 September 2003.

===Corrib gas project===
{{main|Corrib gas project}}
Statoil was a partner of [[Royal Dutch Shell]] in the [[Corrib gas project]], which entails developing a [[natural gas]] field off the west of Ireland. The project has proved controversial.  In the summer of 2005, [[Rossport Five|five men]] from [[County Mayo]] were jailed  for contempt of court after refusing to obey a temporary court injunction forbidding them to interfere with work being undertaken on their land. The ensuing protests led to the [[Shell to Sea]] campaign that opposes the project.

==References==
{{Reflist|2}}

==External links==
{{Portal|Norway|Energy}}
*[http://www.statoil.com/ Corporate website]
*[http://www.greencarcongress.com/2006/10/worlds_largest_.html World’s Largest Carbon Sequestration Project Approved]
*[https://web.archive.org/web/20070927234451/http://oilrigcareer.com/index.php?sid=875791982&t=sub_pages&cat=12 Statoil operated oil fields] Detailed list of all oil fields operated by Statoil
*[http://www.statoillubricants.com/ Statoil's Lubricants]
*[https://web.archive.org/web/20091213140944/http://statoil.dk/ Statoil Denmark]
*[https://web.archive.org/web/20070922035835/http://www.statoil.se/ Statoil Sweden]

{{DEFAULTSORT:Statoil, History (1972-2007)}}
[[Category:Equinor|.]]
[[Category:Oil companies of Norway]]
[[Category:Natural gas companies of Norway]]
[[Category:Formerly government-owned companies of Norway]]
[[Category:History of companies of Norway|Statoil]]
[[Category:History of the petroleum industry in Norway]]
[[Category:Companies based in Stavanger]]
[[Category:Petroleum in Norway|History of Statoil]]