Equinor

Founded by the Norwegian government as Statoil in September 1972, Equinor was created to manage Norway’s oil and gas resources. The company adopted the Equinor name in May 2018 as it broadened beyond its historic petroleum identity. It is headquartered in Stavanger and remains 67% owned by the Norwegian state.

Equinor’s core business is exploration, development, production and marketing of oil and natural gas, with the Norwegian continental shelf as its operational backbone. It also operates in renewables, power, carbon capture and storage, and other low-carbon solutions. Its main strength is large-scale offshore energy development: Equinor operates around 70% of oil and gas production on the Norwegian continental shelf and supplies a significant share of Europe’s energy.

For business students, Equinor combines commodity markets, capital-intensive project development, engineering, energy trading and transition strategy. The company’s energy-transition activity is material but does not replace its petroleum base: in 2025, oil and gas production was 2,137 mboe per day, compared with 3.67 TWh of renewable power generation.