Statoil ASA changes name to Equinor ASA
Baku, Azerbaijan, May 16
By Leman Zeynalova – Trend:
Equinor ASA (OSE: EQNR, NYSE: STO), the new name of Statoil ASA, was approved by the annual general meeting on May 15, said a message from the company.
Reportedly, the new name has now been registered in the Norwegian register of business enterprises (Foretaksregisteret).
The company's shares will from 16 May 2018 (inclusive) be quoted on Oslo Børs with the new name and the new ticker EQNR.
Implementation date for the new ticker EQNR for the company's American Depository Receipts (ADRs) on New York Stock Exchange is expected to be 17 May 2018 at the earliest.
The company is a shareholder of the project for development of Azeri-Chirag-Guneshli block of oil fields (7.27 percent) and the Baku-Tbilisi-Ceyhan (8.71 percent) in Azerbaijan. The company is also negotiating with the Azerbaijan’s state oil company SOCAR to develop Karabakh oil field and the promising structures of Ashrafi and Dan Ulduzu.
The average production by the company in Azerbaijan in 2017 stood at 50,300 barrels of oil equivalent per day.
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