Norway's multinational oil and gas company Statoil said Thursday it wants to change its name to Equinor in order to support its "strategy and development as a broad energy company."
"The name Equinor 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," the company said in a statement.
The new name will be proposed to shareholders in a resolution to the Annual General Meeting on May 15, the company said, adding that the Norwegian government, as majority shareholder, "supports the proposal and will vote in favour of the resolution."
"The world is changing, and so is Statoil. The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development," Jon Erik Reinhardsen, chair of the board in Statoil, was quoted as saying.
Statoil, which was established in 1972, is an international energy company with activities in more than 30 countries and with approximately 20,500 employees worldwide.
Editor:Amber
