Equinor, formerly known as Statoil, is a Norwegian state-owned multinational energy company established in 1972. Headquartered in Stavanger, Norway, Equinor operates in over 30 countries, including major energy hubs like the USA, Brazil, and the UK. The company is one of the largest offshore oil and gas producers globally and has made significant strides in renewable energy, particularly in offshore wind power.
Equinor’s primary focus is on developing oil, gas, and renewable energy resources responsibly and sustainably. The company aims to transition towards a low-carbon future while maintaining its strong position in traditional energy sectors. Equinor’s strategy reflects a commitment to achieving carbon neutrality by 2050, contributing to global energy needs while mitigating climate change.
CEO and Founder of Equinor
Equinor was founded in 1972 as "Den Norske Stats Oljeselskap A/S" (Statoil), by the Government of Norway to take control of the country’s vast offshore oil resources. The company was later rebranded as Equinor in 2018 to reflect its evolution towards broader energy solutions, including renewables.
The current CEO of Equinor is Anders Opedal, who took over in 2020. With a background in engineering, Opedal has led the company’s shift towards cleaner energy and sustainability. He has emphasized Equinor’s renewable energy ambitions, particularly in offshore wind, while ensuring that the company remains a leader in the oil and gas industry. Under his leadership, Equinor has set bold targets for reducing carbon emissions and increasing investments in renewable energy.
List of Top Companies and Ventures Under Equinor
Equinor has expanded its operations through various acquisitions, partnerships, and investments, particularly in renewable energy projects. Below is a list of some top companies and ventures under Equinor, along with their valuations.
| Company/Project Name | Year Founded/Acquired | Valuation | Industry |
|---|---|---|---|
| Hywind Scotland | 2017 | $2 Billion | Offshore Wind (World’s first floating wind farm) |
| Dogger Bank Wind Farm | Joint venture (ongoing) | $9 Billion | Offshore Wind |
| Statpipe | 1985 | N/A | Oil & Gas Pipeline Infrastructure |
| Triton Knoll Offshore Wind | 2021 | $4 Billion | Offshore Wind |
| Northern Lights CCS | Joint venture (ongoing) | $1 Billion | Carbon Capture and Storage (CCS) |
| Kvitebjørn Field | 2004 | $1.5 Billion | Oil and Gas Production |
| Empire Wind | Joint venture (ongoing) | $3 Billion | Offshore Wind (USA) |
FAQs About Equinor
Q1: When was Equinor founded and by whom?
A: Equinor, originally known as Statoil, was founded in 1972 by the Norwegian government to manage the country's offshore oil resources.
Q2: Who is the CEO of Equinor?
A: The current CEO of Equinor is Anders Opedal, who took over in 2020 and is leading the company’s transition towards renewable energy.
Q3: Why was Statoil renamed to Equinor?
A: The name change to Equinor in 2018 was part of a broader strategy to reflect the company’s growing focus on renewable energy and its evolution beyond just oil production.
Q4: What are Equinor's key renewable energy projects?
A: Equinor is heavily involved in offshore wind projects like Hywind Scotland and Dogger Bank Wind Farm, as well as carbon capture and storage initiatives like Northern Lights CCS.
Q5: What is Equinor’s strategy for reducing carbon emissions?
A: Equinor has committed to achieving carbon neutrality by 2050, primarily by investing in renewable energy, reducing emissions from its oil and gas operations, and expanding its carbon capture and storage capabilities.
Q6: In which countries does Equinor operate?
A: Equinor operates in over 30 countries, including Norway, the USA, Brazil, the UK, and several other energy hubs worldwide.
