Name change is expected to be adopted 15 May 2018


The Annual General Meeting (AGM) of Statoil ASA (Statoil) held on May 15, 2018 approved the change of the company name to Equinor ASA.

The new name has now been registered in the Norwegian register of business enterprises (Foretaksregisteret) and the company's shares are from May 16 quoted on Oslo Børs with the new name and the new ticker EQNR.

Amidst these innocuous announcements, Norwegian multinational oil and gas company Statoil announced its intention to change its name to Equinor - which "is formed by combining 'equi, ' the starting point for words like equal, equality and equilibrium, and 'nor, ' signalling a company proud of its Norwegian origin, and who wants to use this actively in its positioning".

Please see attached document for instrument identifiers. The company has established a presence, meanwhile, outside of the conventional energy sector. Implementation date for the new ticker EQNR for the company's American Depository Receipts (ADRs) on New York Stock Exchange is expected to be May 17 2018 at the earliest.

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On Wednesday morning, Norwegian oil major Statoil will formally remove "oil" from its name. 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. And while Statoil is working to develop and grow its own renewable energy areas, the name Statoil could make some potential employees think that's not the case.

A vote is expected Tuesday in favor of a name change from Statoil to Equinor.

Equinor has emerged over the last few years as a significant player in the global offshore wind sector, developing fixed-bottom projects off the United Kingdom and pioneering the Hywind floating turbine technology.