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Blue Chip Growth

Stock Report: Statoil ASA Sponsored ADR (STO) Report Updated: Oct 27, 2014 | Print This Page

Statoil ASA Sponsored ADR© quotemedia

Company Profile

Statoil ASA, an integrated energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. The company is involved in the exploration, development, and production of crude oil and natural gas, as well as extraction of natural gas liquids. It also transports and markets natural gas and natural gas products; and engages in petroleum refining operations, as well as marketing crude oil and refined petroleum products. In addition, Statoil ASA engages in the retail sale of stationary energy primarily heating oil, kerosene, liquefied petroleum gas, and heavy fuel for industrial purposes; marine fuel comprising marine gasoil and heavy fuel; and aviation fuel, lubricants, and chemicals. Further, it builds and operates offshore wind farms in the United Kingdom off the Norfolk coast. As of December 31, 2011, the company had proved reserves of 5,426 million barrels-of-oil equivalent, including 2,276 million barrels of oil and 3,150 billion cubic meters of natural gas. It also had a network of 2,305 fuel stations comprising 1,739 fuel stations located in Denmark, Norway, and Sweden; and 566 in Poland, Latvia, Lithuania, Estonia, and Russia. The company was formerly known as StatoilHydro ASA and changed its name to Statoil ASA in November 2009. Statoil ASA was founded in 1972 and is based in Stavanger, Norway.

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