Norway: Statoil to Review Structures for Retail Business

 The company also stated that the decision is prompted by an analysis of the development opportunities for Statoil's energy and retail business or E&R, including service stations in 8 countries, and the supply of lubricants, aviation and marine fuels. "A new ownership structure will help further strengthen this business, for the benefit of the customers, as well as the employees," explained Jon Arnt Jacobsen, executive vice president for the Manufacturing & Marketing business area.

The size and time horizon of Statoil's further ownership would be tailored to the new company's development needs. Also, Statoil said it would establish an owner and capital structure for the new company which makes the value of the business visible and forms a solid foundation for long term growth and development.  

It has been understood by PetrolWorld that since the StatoilHydro merger in 2008, it became clear during 2009 that the Statoil board was going to review the established strong retail Statoil brand after the name change.

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