equinor subsidiaries list06 Sep equinor subsidiaries list
[73], In 2010, the downstream operations were separated into new listed company Statoil Fuel & Retail. Safety is our top priority and the core of our licence to operate. The heritage of Equinor derives from three major Norwegian petroleum companies Statoil, Norsk Hydro, and Saga Petroleum (the latter two merged in 1999). We're currently hiring in the US: Equinor has been present in the United States since 1987 when we began operations in the Gulf of Mexico. [citation needed] In 2006, the company accepted a $10.5 million fine for violating the U.S Foreign Corrupt Practices Act. [64] After the introduction of international sanctions during the Russo-Ukrainian War against Russia,[65] Equinor has kept a much lower public profile on its Russian activities while continuing largely as before. [44][45][46] Equinor was contracted to build a wind tower assembly farm in New York City that same year. Europe: Europe is a key market for us, particularly Western Europe, and following Russia's invasion of Ukraine in 2022, we are now the largest supplier of natural gas to Europe, particularly to the UK, Germany, and France.United States: The US is another major market for us, particularly in the offshore oil and gas sector in the Gulf of Mexico. We are on track to maintain profitable production from the Norwegian continental shelf at current level towards 2030. Creating value through the energy transition, Net-zero ambition gives new industry opportunities, Technology excellence and innovation define winners, Market dynamics set margins under pressure. Equinor is an international energy company committed to long-term value creation in a low-carbon future. The company has repeatedly contributed with its expertise in working groups on specific topics mandated by the EITI. [3] As of 2021,[update] the company has 21,126 employees.[2]. Please give credit to our source (for web, with direct link, for print with EITI International Secretariat, eiti.org). Equinor left Russia in September 2022 after striking a deal with Rosneft, selling its Russian assets and transferring future liabilities and investment commitments for one euro. Always safe, High value, and Low carbon will continue to guide our business. Renewable energy: In recent years, we have made significant investments in offshore wind farms, solar energy, and carbon capture utilisation and storage (CCUS) projects. In May 2018, our Annual General Meeting voted to change our company name from Statoil to Equinor to better reflect our evolution and identity as a company for the generations to come. Together is a mindset, a way to work and to communicate. Equinor Energy AS is a wholly owned subsidiary of Equinor ASA and operates about 70% of all oil and gas production on the Norwegian continental shelf. Equinor is a broad energy company committed to developing oil, gas, wind and solar energy in more than 30 countries worldwide. Corporate Communication is headed by Executive Vice President Jannik Lindbk. We expect our suppliers and business partners to adhere to ethical standards which are consistent with our ethical requirements when working for or together with us. They help us set direction and they guide our decisions, actions and the way we interact with others. Were an international energy company headquartered in Norway, with 22,000 employees in over 30 countries. Equinor ASA (OSE: EQNR, NYSE: EQNR) announced on 4 May 2023 an ordinary dividend per share of USD 0.30 and an extraordinary dividend per share of USD 0.60 for first quarter 2023. Our purpose is to turn natural resources into energy for people and progress for society. The world needs more energy but it must be affordable, reliable, accessible. Where we are - Equinor The role of the SSU organisation is to enable strategy realisation, safeguard the company, drive performance and set corporate standards for Equinor. The Vice-Chair and former Minister of Petroleum and Energy Marit Arnstad served as chairperson until 1 April 2008, when Svein Rennemo took up the post on a permanent basis after resigning as the CEO of the Norwegian oil services company Petroleum Geo-Services (PGS). We continue to believe that the EITI, through its multi-stakeholder approach, is a valuable platform for identifying ways to strengthen good governance in the extractive sector, combat corruption, and promote business integrity globally. We are applying innovative technology to ensure that our onshore assets are producing energy safely and with the lowest possible CO2 and methane emissions. We also have significant investments in onshore shale oil and gas operations in the US, and we also have significant activities in wind power. EPI is responsible for our international exploration and production, and is engaged in production in several countries. On June 29, 2004, Statoil was found guilty of corruption by the Norwegian courts and was ordered to pay NOK 20 million in fines. [109], Equinor sponsors talents in art, education, and sports through the program Morgendagens helter (Tomorrow's heroes). We are committed to treat everyone with fairness, respect and dignity. [29][30][31], In 2011, Statoil bought Brigham Exploration for $4.4 billion to gain access to its oil shale operations in North Dakota's Bakken formation. [60], Equinor partnered with Norwegian renewable energy company Vrgrnn in 2021 to acquire wind acreage in the Utsira Nord region of the North Sea.[61]. To us, this means safety for our people, the environment and the societies in which we operate. Our approach is integrated in our management system, and we have developed guidance and tools for everyone who works for us. That's why we closely partner with industry peers, NGOs and leading academic institutions. Statoil has offices that are looking for possible ventures in the countries of Mexico, Qatar and the United Arab Emirates. Today, in a world that is increasingly unpredictable, our deliveries of oil, gas and wind power provide a vital and stabilising contribution to Europes energy security, both in the short and long term. Want the full picture? Since then we have expanded our presence to include unconventional resources and renewable energy projects, and now employ 750 people in the United States. We have structured our organisation to enable us to respond to our current and future business needs, and in addition to the six business areas, Field Life Extension (FLX) is Equinor's dedicated area for late-life fields. We do not tolerate any discrimination or harassment of colleagues or others affected by our business. [94] On October 11, 2016, BP withdrew its plans to explore the area claiming that it was not competitive and did not align with BP's strategic goals. We combine industrial strength with innovative thinking, expertise and collaboration, enabling us to play a leading role in the global energy transition. After 2030 the NCS will enter a more mature phase, but it will continue to be our backbone for many years. The CFO drives financial performance within Equinor and provides professional support and advice. We support the Paris agreement and have set a clear ambition to become a net-zero company by 2050. Together. Beyond its annual financial contribution, Equinor has provided ad-hoc support to the EITI global conference and regional EITI workshops. Since then we have expanded our presence to include unconventional resources and renewable energy projects, and now employ 750 people in the United States. [71], The company operated fuel stations under the main brand Statoil, fully automated stations under 1-2-3 and some of the stations under Ingo brand in Denmark and Sweden. We have set ambitious targets to reduce our carbon emissions and intensify our push into renewable energy. An actual new name was not decided upon at the time of the merger, and StatoilHydro was created for temporary usage only. Difficult. Since 1987, Equinor has had a presence in the United States. The service station chain was sold in 2006 to Reitangruppen. Equinor holds a 15.625% interest in the Deep Blue well on Green Canyon 723 in the deepwater Gulf of Mexico. In 2009, it was announced that the Norwegian government had reached its goal of obtaining 67% of Statoil's share. Focus on sustainability: We seek to demonstrate our commitment to sustainable practices and renewable energy, including our ambition for net zero by 2050. Equinor is developing as a broad energy company, leveraging strong synergies between oil, gas, renewables, carbon capture and hydrogen. Fields and platforms - an overview - Equinor Today, in an increasingly unpredictable world, our deliveries of oil, gas and wind power provide a vital and stabilising contribution to Europes energy security. The worlds energy systems are in rapid transition to meet the challenge. Over the years, Equinor has also been an active member of several national multi-stakeholder groups (MSGs),including in Norway and Indonesia. The gas is exported to the UK, Germany, and Belgium, and the CO2 is injected into the Utsira formation. New market opportunities in low carbon solutions becoming a leader in carbon management and hydrogen. Reducingemissions from operations will remain a top priority. 30 countries presence & business operations 170 million people's lives energised, every day 8,000 suppliers working with us From our Annual Report 2022, showing activities by country We are Equinor Welcome to Equinor, an international energy company headquartered in Norway with 22,000 employees in 30 countries. To share views about safety and environmental matters in our US offshore business, contact SafetyandEnvironment@equinor.com. The company has processing plants in Belgium, Denmark, France, and Germany. Despite a challenging year for the bank industry, 302 banks appear on Forbes' 2023 Global 2000 list, up from 292 in 2022. In accordance with the recommendations of Oslo Stock Exchange, Equinor publishes the list of our largest shareholders. This ambition is supported by our Energy transition plan and is backed by actions such as: Reducing emissions from our oil and gas operations, increasing renewables capacity, establishing value chains in CCS and hydrogen, increasing the share of non-combusted products from hydrocarbons, and using high-quality carbon sinks. [72] After the aquistion of Norsk Hydro in 2007 also operated 118 Hydro and Uno-X fuel station networks in Sweden until were sold together with 40 Jet stations in Norway in 2009 to Finnish company St1. Our ambition is to be a leading company in the energy transition, creating value through the opportunities the energy transition brings, breaking new industrial ground by building on our 50 years of . [35], In June 2013, Statoil announced a funded joint venture with Petrofrontier Corp. in Australia. [32] In 2012, Statoil sent 45,000 barrels of oil per day by railroad cars from North Dakota. Our ambition is to reduce the net carbon intensity (NCI) of the energy we provide by 20% by 2030. Very difficult. Our values embody the spirit and energy of Equinor at its best. Stock Symbol EQNR Investments 120 Share Price $32.57 (As of Wednesday Closing) General Information Description Equinor is a Norway-based integrated oil and gas company. Equinor views transparency as a cornerstone of good governance and accountability. Equinor to cut emissions with electric power in North Sea 34 35th Street, Suite A415, Brooklyn, NY 11232. Prevention of major accidents is about protecting people and the environment, as well as avoiding serious economic and reputational damage to Equinor. Equinor owns and operates the 30-MW Hywind Scotland floating wind farm 29 kilometres (18mi) off Peterhead, Scotland. The proved recoverable oil resources were provisionally estimated at between 37 and 63 million barrels (5,900,000 and 10,000,000m3), while the volume of associated and free gas was estimated at between 1 and 3 billion standard cubic metres. The need for a low carbon future poses new challenges that require partnerships, collaboration and innovative minds to create new energy solutions. In November 1987, several members of the board offered their resignation over approximately $780 million worth of cost overruns at the Mongstad refinery. [62], Equinor has a long history of attempting to get involved in the Russian petroleum sector. Under the agreement, Statoil became a partner on six offshore licenses, as well as expanding biofuels production. Equinors ambition is to allocate more than 50% of our annual gross capex to renewables and low carbon solutions by 2030 and more than 30% in 2025. Effective 1 January 2009, Equinor Energy AS received certain assets and assumed certain liabilities from its parent company. $1.75 million investment directly into community for new technology and media center. And at a time when it was more important than ever, people working for Equinor stepped up to deliver safe, secure, and reliable production with low emissions. Our headquarters are in Norway and we have 22,000 employees in 30 countries. Statoil was also required to submit an annual report to the parliament. For the first quarter of 2021, Equinor reported after tax earnings of $2.66 billion. Equinor ASA: Announcement of dividend per share in NOK for first Driven by a dedication to safety, equality and sustainability, Equinor's ambition is to shape the future of energy. PDP is responsible for the global project portfolio, well deliveries, and procurement and supply chain management across Equinor. [96] The Australian Senate commenced an inquiry into oil or gas production in the Great Australian Bight on 22 February 2016. TDI is headed by Hege Skryseth, Executive Vice President. 2107 CityWest Blvd, Suite 100, Houston, Texas, 77042Tel: +1 713 918 8200, Washington D.C. 1050 K Street, NW, Suite 950, Washington, DC 20001-4417Tel: +1 202 370 5219, Stamford. In 1999, Hydro acquired Norway's third-largest petroleum company Saga Petroleum, which had major upstream operations primarily in Norway and the United Kingdom. Cautionary note regarding forward-looking statementsThis web page contains forward-looking statements. In addition to the Norwegian continental shelf, Equinor operates oil and gas fields in Australia, Algeria, Angola, Azerbaijan, Brazil, Canada, China, Libya, Nigeria, Russia, United Kingdom, United States, and Venezuela. [55][56] The contract with New York State was reportedly the largest offshore wind deal offered by an American state to date. includes non-operated and equity production (2022). That way were not only helping providing homes and industries with clean power and generating value, but also helping the US to meet its climate targets. Country Garden: Why Its Financial Crisis Poses a Risk to China - The Our shareholders - Equinor Our strategic communication foundation is To get there. We invest in the community: We engage in many corporate social responsibility initiatives, including investing in local communities, contributing to social causes, and participating in volunteer activities. CCOMs purpose is to protect and enhance Equinors reputation, supporting the company's effort to reach strategic goals. In 2018 we changed our name to Equinor. Careers and recruitment in the US open positions, Read more about health, safety and security in Equinor. In the US we are ambitiously working to reduce our methane emissions towards a zero emissions future. REN aims to do this based on combining Equinor's oil and gas expertise, project delivery capacities and ability to integrate technological solutions.REN is headed by Executive Vice President Pl Eitrheim. From our Annual Report 2022, showing activities by country, Our magazine: stories marking our first 50 years, Read more about ethics and compliance in Equinor, We embrace diversity and new perspectives, We raise ethical dilemmas and act with integrity, We share knowledge and help each other succeed, We engage with, respect and earn the trust of ourbusiness partners and society, We are curious, innovative and commercial, We use foresight, identify opportunities and manage risk, We respect each other and contribute to a positiveworking environment, We act in a sustainable, ethical and socially responsible manner. The U.S. East Coast is one of the most attractive growth markets for offshore wind in the world, and these projects will deliver homegrown, renewable electricity to New York. [70] Equinor operates the Sheringham Shoal Offshore Wind Farm with 40% stake in the project and has 50% stake in each Creyke Beck A and B and Teesside A wind farms of the Dogger Bank Wind Farm development in the United Kingdom. During 2008, the Government built up the State's ownership interest in Statoil by buying shares in the market. Welcome to Equinor, an international energy company headquartered in Norway with 22,000 employees in 30 countries. We believe in the benefits of competition, and Equinor always competes in a fair and ethically justifiable manner. Our long-term ambition is to become a net zero company by 2050. [102][103], In 2023 it was revealed that a Equinor sponsorship agreement of the Wonderlab exhibition at the Science Museum, London contained a gag clause preventing museum or its trustees make any statement or issue any publicity or otherwise be involved in any conduct or matter that may reasonably be foreseen as discrediting or damaging the goodwill or reputation of the sponsor. Equinor has taken a clear stand on this: Our ambition is to continue supplying society with energy with lower emissions over time and reach net zero by 2050. Gree Recalls 1.56 Million Dehumidifiers Due to Fire and Burn - CPSC [19] It is the ninth largest oil company in the world, and would be the 48th largest company in the world on the current Fortune Global 500 list with a revenue of NOK 480 billion.[20]. Our people are at the heart of everything we do, and were building a workforce that reflects the diversity of the business and communities that we operate in. Equinor ASA (formerly Statoil and StatoilHydro) is a Norwegian state-owned multinational energy company headquartered in Tulsa, Oklahoma. We are also investing heavily in offshore wind and other renewable sources and intend to play a leading role in the energy transition. Equinor was a member of the international EITI Board from2009-2023. It then shifted from partnership with Gazprom to Rosneft, and in the two companies, have drilled for oil in several areas of Russia, again without any major finds. [26], In early June 2011, Statoil ASA has divested 24.1% shares in Gassled joint venture for NOK 17.35 billion ($3.25 billion) to Solveig Gas Norway AS and still has 5% shares in the partnership. We have structured our organisation to enable us to respond to our current and future business needs, and in addition to the six business areas,Field Life Extension (FLX)is Equinors dedicated area for late-lifefields. 198788 saw the largest scandal in the company's history, the Mongstad scandal that made the until then unassailable CEO Arve Johnsen withdraw. [76] In 2016, Couche-Tard decided to rebrand all fuel stations into the Circle K brand. 1 oil group. This will reduce annual CO2 emissions by 95 000 t. Statfjord C will change its power solution to cut emissions. Today, 21 June 2023, Equinor and Cheniere have announced a new 15-year purchase agreement of around 1,75 million tonnes of LNG per year, with half of the volume starting from 2027. These partnerships can help share risks, costs, and expertise, especially when entering new markets or developing large-scale projects. The business area is responsible for capturing the full value potential of all marketed and traded products, such as crude oil, liquids and natural gas. Equinor consists of six business areas, as well as six staffs and support divisions. Wed love to share this content with you, but first you must accept marketing cookies by enabling them in our cookie settings. Over the last 30 years we have strengthened our presence in the US, employing a thousand people in all of our US office locations. Our goal is to transition from being a traditional oil and gas company to becoming a broader energy company, reducing the carbon intensity of our products in the process. Equinor - Wikipedia Equinor - Subsea Oil and Gas Directory [86] On October 13, 2006, Statoil reached a settlement with US authorities for its involvement in the case and was ordered by a US court to pay US$21 million in fines. The pipelines from Norway are organized through Gassled. In accordance with the Storting's decision of 2001 concerning a minimum state shareholding of two-thirds in Statoil, the Government expressed its intention to increase the state's shareholding in Statoil over time to 67%. Record the pronunciation of this word in your own voice and play it to listen to how you have pronounced it. Equinor | Company Overview & News - Forbes Statoil was required to discuss important issues with the Minister of Industry, later Minister of Petroleum and Energy. Communicating a clear vision and values: We aspire to to convey a clear and compelling vision to help stakeholders understand our strategic direction and business model. On 24 May 2010, Statoil sold a 40% stake in the Peregrino field to Sinochem, the Chinese state-controlled oil company, for a cash sum of $3.07 billion, but retained 60% and the operatorship. [42], Despite finding no oil at its large exploration prospect in the Arctic in 2017, Statoil announced in October 2017 that the company would not give up exploring the Arctic. Equinor in the US Equinor has been present in the United States since 1987 when we began operations in the Gulf of Mexico. Strategic partnerships: We frequently collaborate with other industry players, technology firms, and even governments. The Equinor share - EQNR Our largest shareholders In accordance with the recommendations of Oslo Stock Exchange, Equinor publishes the list of our largest shareholders. Equinor Blazes A Renewable Path, But Can Other Oil Companies - Forbes The Wilderness Society showed that a worst-case scenario leak of oil could have a catastrophic effect on the southern coastline of Australia. Petrobras and Statoil announced plans to create dozens of refineries in Brazil and the rest of the world where vegetable oil will be added to crude to create a no-sulphur fuel. https://en.wikipedia.org/w/index.php?title=Equinor&oldid=1169799494, This page was last edited on 11 August 2023, at 10:17. Now it is staring down default, facing billions of dollars in losses . LEG has the global functional responsibility for all legal matters related to the Equinor groups business and corporate activities, overall responsibility for advising on all legal matters and ensuring that activities related to ethics and anti-corruption are well organised and conducted in a satisfactory manner. The Norwegian state is the largest shareholder in Equinor (previously Statoil). Very easy. In line with the concept of double materiality, these are topics that may significantly affect our financial or operational performance, or that may significantly impact societies and ecosystems in which we operate. We aim to create a low-carbon energy hub in the United States, leveraging our experience in key European hydrogen projects. [6] The Norwegian meaning of the former name Statoil is 'state oil', indicating that the oil company is state-owned.[7]. The grant is 500,000 NOK (about $83,000) which makes it Norway's largest prize of its kind. LEG is headed by Executive Vice President Siv Helen Rygh Torstensen. (In 2012, Statoil had 4 oil sand licences (oljesandlisensene ) as part of the Kai Kos Deh Seh project: Leismer, Corner, Hangingstone, and Thornberry). On 5 March 2009 the Government announced that the State's ownership interest had reached 67%. COA is headed by Senior Vice President and Chief Audit Executive (CAE) Bent Rune Solheim. As required by Norwegian legislation, Equinor discloses payments to governments pertaining to its extractive activities per project in a separate report. Description: This recall involves 42 models of dehumidifiers with brand names Kenmore, GE, SoleusAir, Norpole and Seabreeze, manufactured between January 2011 and February 2014. In 1981, the company acquired, as the first Norwegian company, operator rights on the Norwegian continental shelf on the Gullfaks field. Equinor | LinkedIn A new steam turbine will produce electricity based on surplus heat from two gas compressors. Equinor's shares traded at over $18 per share, and its market capitalization was valued at over US$55.5 billion in October 2018. The firm announced its intention to revert to the name Statoil ASA, and this was approved by the Annual General Meeting in May 2009. Through our brand, we wish to position ourselves as a leading company in the energy transition with the industrial strength to make a difference, driven by purpose, people, innovative thinking and not least collaboration. Legal & General Investment Management Ltd. The group is also involved in transformation, transport and sale of natural gas; Den Norske Stats Oljeselskap A/S was founded as a limited company owned by the Government of Norway on 14 July 1972 by a unanimous act passed by the Norwegian parliament Stortinget. The Statoil stipend to a Norwegian pop/rock artist or group has been awarded since 2008 during the by:Larm festival and is meant to stimulate an international career. Research and development: We invest heavily in research, technological developments and digitalisation to optimise our production, enhance recovery rates from existing fields, and develop new energy solutions that are more environmentally friendly. "Oslo 2011 enjoys great sponsor interest, Statoil". It has alsohosted EITI events in Oslo and London. We do not tolerate any breaches of the Code of Conduct or laws. The fields operated are Brage, Heimdal, Grane, Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjrn, Mikkel, Njord, Norne, Ormen Lange, Oseberg, Sleipner, Snorre, Snhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve, and sgard. Wed love to share this content with you, but first you must accept marketing cookies by enabling them in our cookie settings. The corporate bodies secretariat is also the responsibility of LEG, which is a global organisation with employees in several locations in and outside Norway. Does a future exist where we can ensure enough energy for everyone, while also being good stewards of our planet? Geographic distribution of shareholders at year end 2022 and free float breakdown. [78] In the fourth quarter of 2021, Equinor had a profit of $15 billion. Our key markets include:Norway: Although we are the largest oil and gas operator on the Norwegian continental shelf and a key supplier to the Norwegian domestic market, most of Norway's oil and gas production is exported, due to Norway's small population and the fact that Norwegian domestic electricity needs are largely met through hydropower. In the North Sea, Equinor operates the Oseberg Transport System, Kvitebjrn oil pipeline, Heidrun gas pipeline, Sleipner East pipeline and Vestprosess pipeline. Equinor is a broad energy company, the largest oil and gas operator in Norway, one of the worlds largest offshore operators, and a growing force in renewables and low carbon solutions. The function is responsible for investigating accidents and cases of ethical misconduct, as well as conducting all internal audits. Upstream operations (exploration and production): The core of our business has been rooted in the exploration, development, and production of crude oil and natural gas, including operations on the Norwegian Continental Shelf (where we are the largest operator) and international oil and gas production in various parts of the world.
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