EnergyWatch

Statoil will become a thing of the past Tuesday

Statoil will adopts its new name, Equinor, at the general assembly Tuesday.

Photo: PR/Statoil

Shareholders will vote to change the company's name to Equinor at the company's general meeting Tuesday. While there has been debate leading up to the decision, it is apparent that a majority support the change.

The Norwegian state is the main shareholder in Statoil, and is pushing for the name shift. The state owns 67 percent of Statoil shares, making the Norwegian Parliament the primary owner.  The issue of the name change saw strong debate in parliament, and individual parties pushed for a decision. Now, the government and a majority back Statoil's decision.

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