Statoil to trot out new name

Statoil to trot out new name

The articles of association have been amended to reflect the new Equinor name, the company said. Based on statements made in support of the name change by the companys majority owner, the company expects the AGM to approve the proposal to change the companys name to Equinor ASA.

The Company will announce the result of the voting after the AGM on May 15, 2018 and expects to announce the implementation of the name change before 09:00 (CEST) on May 16, 2018.

The Norwegian energy company ditched the word "oil" from its name to broaden its energy reach beyond oil and gas production. "The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development".

Statoil Becomes Equinor
Statoil Removes "Oil" From its Name

"Our strategy remains firm". The proposal will be voted on at an annual general meeting on May 15. The move also helps the company to reshift its priorities away from fossil fuels - as befits a company with "oil" in its name - and towards a renewable energy future.

"Equinor is a name that is forward-looking and creates a strong platform for engagement and dialogue with a broad set of stakeholders, said Statoil's senior VP of corporate communications, Reidar Gjærum, in a March press release". "None of our competitors has that".

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