Statoil is an oil and gas company that operates from the city of Stavanger in Norway. The company runs its operations across the globe in 36 different nations and functions as a fully integrated petroleum firm. Based on revenue data, Forbes Magazine ranks Statoil as the 11th largest oil and gas firm in the world and 26th largest firm (irrespective of the industry) in the world. The company employs around 23000 people.
Statoil was originally established when the company merged with Norsk Hydro’s oil and gas division. 67% of the firm’s shares are held by the Norwegian government. The leftover 33% comes under the public stock. The Norwegian Ministry of Petroleum and Energy, oversees and manages the company’s ownership interests.