Statoil completes name change to Equinor
Norwegian energy giant and LNG operator Statoil became Equinor after receiving the approval at the annual general meeting on Monday.
The company’s shares from May 16 are being quoted on Oslo Børs with the new name and the new ticker EQNR, the statement reads.
The 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 at the earliest.
In an earlier statement, the company said the name change reflects ongoing changes and supports the low carbon strategy the company has outlined last year.
“The Norwegian continental shelf will remain the backbone of our company, and we will use our Norwegian heritage in our positioning as we continue growing internationally within both oil, gas and renewable energy,” Equinor’s CEO Eldar Sætre said in a statement.
The strategy envisions the development of long-term value on the Norwegian continental shelf, deepening in core areas and development of new growth options internationally.