Statoil ASA was founded in 1972 as Den Norske Stats Oljeselskap AS, a Norwegian Government-Owned Oil Company. In our days Statoil is an international generating company with representative offices in 30 countries and 20 300 employees over the world. The competitive advantage of Statoil is based on our culture, rooted in our values, with unyielding commitment to the principles of accountability, cooperation and continual effectivization. The Statoil Board of Directors has submitted an offer to change the trading name of Equinor. The new title is in accord with the strategy and development prospects of the company as a global energy utility. Statoil is engaged in exploration, development and production of oil and gas as well as of renewable power sources and remains a chief operator in the Norwegian Continental Shelf. The company sells unrefined oil and supplies the worldwide market with natural gas. The Government of Norway is the major Statoil shareholder with direct ownership of 67%. Its property rights are under the control of Oil and Energy Ministry. American investors hold 11%, European private investors hold over 20%. The total Company's income as of 2017 hit $ 61.1 bln with nett profit of $ 4.6 bln.
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