Warrants: Change of long name and symbol for Statoil (161/18)

Call me Equinor: Statoil changes name

Subject to the AGM's approval of the name change and subsequent implementation, the new ticker "EQNR" is also expected to be implemented for the Company's American Deposit Rights (ADRs) traded on the New York Stock Exchange (NYSE). It's expected that from Wednesday May 16, Statoil will become Equinor.

By 1315 BST, Statoil shares were 1.23% higher at €23.00.

After announcing its intention earlier in the year, Norwegian multinational oil and gas company Statoil has today officially changed its name to Equinor after the company's annual general meeting approved the name change on Tuesday.

"A name with "oil" as a component would increasingly be a disadvantage".

The articles of association have been amended to reflect the new Equinor name, the company said. None of our competitors has that.

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"The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development", Statoil's chair of the board, Jon Erik Reinhardsen, said in a company statement back in March.

CEO Eldar Sætre presents the name change in Stavanger.

Founded in 1972 to operate Norway's large oil fields, the company - which is listed on both the Oslo and NY stock exchanges - is now active in renewable energies, including wind farms off the United Kingdom coast.

"We believe it will create internal alignment and pride, and help attract capital, partners and talents", he added.

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