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Last week the Norwegian major revealed plans to change its name to Equinor.
It means the word “oil“ will no longer form part of the company name.
Statoil said the move was in line with its focus on establishing itself as a “broad“ energy company.
Statoil chief executive Eldar Saetre has said the name change is expected to cost between 230-250million NOK (£21-£23million).
Norman Valentine. senior vice president of corporate analysis. Wood Mackenzie. said the rebranding was a `bold reinforcement` of Statoil`s commitment to the energy transition.
