Norwegian multinational energy company Statoil has changed its name to Equinor to support “the company’s strategy and development as a broad energy company”.

The new name was approved at the Annual General Meeting on 15th May and has now been registered in the Norwegian register of business enterprises.

The company explained on its website that the name Equinor is formed by combining ‘equi’ – the starting point for words like equal, equality and equilibrium – and ‘nor’ – signalling a company proud of its Norwegian origin, and who wants to use this actively in its positioning.

“The world is changing, and so is Statoil. The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development. Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always safe, high value and low carbon strategy we outlined last year,” explained Chair of the Board in Statoil, Jon Erik Reinhardsen.

“For us, this is a historic day. Statoil has for almost 50 years served us well. Looking towards the next 50 years, reflecting on the global energy transition and how we are developing as a broad energy company, it has become natural to change our name. The name Equinor captures our heritage and values, and what we aim to be in the future,” said Equinor’s President and CEO Eldar Sætre.