Statoil Essay

Words: 2026
Pages: 9

A PEST(LE) analysis of:

By: Erik Bruun-Olsen & Simen Stockinger

Statoil ASA is a Norwegian Renewable Energy, Oil and Gas company, where the government of Norway is the main shareholder with 67 % of the shares. Statoil was established as a wholly state-owned company on 14th of July in 1972, and it was ranked as the 13th biggest Oil and Gas Company in the world by Fortune Magazine.
Statoil is today a considerable international company, with 22.000 employees in 36 countries all over the world and it is Europe’s second largest natural gas supplier. The company manages the whole value chain from exploration and development of oil and gas fields to operations of production platforms and retailing of oil and gas products.
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By making plans like this, Statoil builds a large knowledge platform of the local conditions, business culture, environmental and ethical risks and other external factors.

Statoil focuses a lot on how they can reduce CO2 emissions. Wind power is one of Statoil's main areas to get a "greener" world. Off the coast of Norfolk, England, located offshore wind farm Sheringham Shoal. Statoil is also a member of the consortium” Forewind” who has the rights to develop offshore wind farms in the Dogger Bank beyond Yorkshire. Here, the total production would be able to cover 10% of all energy consumption in the UK.
Statoil’s goal is to become an important supplier of sustainable biofuels production and trade with the world, and to be ahead in the retail markets. Statoil started selling biofuels already in 1999, and today Sweden, Denmark, Norway, Estonia, Latvia, Lithuania and Poland all are selling biofuels at more than 1300 stations.
Biofuels represent the greatest opportunity for reducing CO2 emissions from the transport sector in the near future. Biofuel can be easily integrated into existing infrastructure of the petroleum fuel, which makes the introduction of this fuel easier. The most common biofuels, ethanol and biodiesel can be blended into the existing fuel and used in existing vehicles.

Statoil sustainability principles for biofuels: | We aim to be familiar with the origin of our biofuels