Equinor ASA

What does Equinor own?
It is an integrated energy company rather than a brand owner: oil and gas production, offshore wind, carbon capture and energy trading, all under the Equinor name.

Is Equinor publicly traded?
Yes, on Oslo Bors and NYSE as EQNR. The Norwegian state holds approximately 67 percent, controlling the company despite the public listing.

Who founded Equinor?
The Norwegian parliament established it as Statoil in 1972 to develop North Sea oil. It merged with Norsk Hydro's petroleum division in 2007 and renamed to Equinor in 2018.

Where is Equinor headquartered?
Stavanger, Norway, the country's oil capital. It operates globally with major activity on the Norwegian continental shelf.

Who owns Equinor?
The Norwegian state controls approximately 67 percent through the Ministry of Trade, Industry and Fisheries. The balance trades publicly.

What is Equinor's revenue?
Approximately $100 billion in FY2025, driven overwhelmingly by oil and gas sales.

Is Equinor a renewable energy company?
No. It produces primarily oil and gas; renewables and low-carbon businesses are small segments. It markets energy transition ambition but derives nearly all profit from hydrocarbons.

What was Equinor called before?
Statoil, from 1972 until the 2018 rebrand. The earlier name Den norske stats oljeselskap translates to the Norwegian state oil company.

Norway's parliament established Statoil, Den norske stats oljeselskap, in 1972 as the state vehicle for developing North Sea oil fields discovered in the late 1960s. It operated as a fully state-owned company, building expertise and infrastructure as Norway's petroleum industry grew.

Statoil partially privatized in 2001, listing on Oslo and New York while the state retained majority control. The move balanced public listing discipline with continued state ownership, a structure that has persisted: the government holds approximately 67 percent through the Ministry of Trade, Industry and Fisheries.

The 2007 merger with Norsk Hydro's oil and gas division created a Norwegian energy giant, consolidating the country's two major petroleum companies. Statoil expanded internationally, acquiring operations in the US, Brazil, Angola and elsewhere, while its Norwegian production remained the foundation.

The company rebranded from Statoil to Equinor in 2018, signaling an ambition beyond oil. The name change accompanied investment in offshore wind, including the Hywind floating wind projects, carbon capture and storage, and renewable energy businesses.

Recent years have tested the transition strategy. Record profits during the 2022 energy crisis, when Norway replaced Russian gas for Europe, funded shareholder returns and sovereign wealth transfers. The company continued oil and gas development alongside renewable growth, drawing criticism from climate groups while defending the dual strategy as necessary energy security.

Anders Opedal has led as CEO since 2020, steering through post-pandemic volatility, European energy realignment and the ongoing tension between producing hydrocarbons and claiming climate leadership.

Statoil's first operator role came on Statfjord in 1979, and the technical competence it developed there, deepwater drilling, harsh-environment operations, large-project execution, became the company's defining capability across five decades of Norwegian shelf development.

The 2001 partial privatization listed it on Oslo and New York while the state retained approximately 67 percent, the structure that persists today. The 2007 Norsk Hydro merger consolidated the Norwegian industry, and international expansion followed: operations in the US Gulf, Brazil, Angola and elsewhere, though the Norwegian continental shelf has always supplied the earnings core.

The 2018 rebrand from Statoil to Equinor was the company's public argument that it was becoming a broad energy company. The investment that followed was genuine: Hywind Scotland, the world's first floating offshore wind farm, had begun generating in 2017; Dogger Bank in UK waters became one of the largest offshore wind developments in the world; the Northern Lights project built commercial carbon capture and storage infrastructure.

The 2022 energy crisis revealed the dual identity. Norway replaced Russian gas for Europe, and Equinor's gas production delivered record profits that funded both shareholder returns and transfer payments to the state. The company continued sanctioning oil and gas projects while marketing its transition credentials, a contradiction environmental groups have litigated and shareholders have largely accepted.

Equinor's controversies center on the climate contradiction it embodies. Environmental groups target its continued fossil fuel development, particularly Arctic drilling, as incompatible with its net-zero rhetoric. Litigation and shareholder resolutions have pressed for faster transition, with limited success given state majority ownership.

Safety incidents have marked its history: the 2016 Snorre A platform problems and periodic accidents on the Norwegian shelf. Its operations in autocratic countries have drawn human rights scrutiny, though less than peers given its concentration in stable jurisdictions.