Statoil will vote on a proposal to change the company's name from Statoil to Equinor on Tuesday.
The board of directors of Statoil proposed to change the name of the company to Equinor, and the company anticipates to implement the name change from Wednesday.
According to Statoil, the name change supports the company’s strategy and development as a broad energy company.
The name Equinor is formed by combining “equi”, the prefix for words; equal, equality and equilibrium, and “nor”, signaling a company proud of its Norwegian origin. The company wants this to actively reflect the company’s values.
"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. Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always safe, high value and low carbon strategy we outlined last year," said Statoil's board chairman, Jon Erik Reinhardsen.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr