Last $28.39 USD
Change Today -0.07 / -0.25%
Volume 1.6M
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

statoil asa-spon adr (STO) Snapshot

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06/23/14 - $31.95
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statoil asa-spon adr (STO) Details

Statoil ASA, an integrated energy company, is engaged 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 in 44 assets in the North Sea, the Norwegian Sea, and the Barents Sea. It also transports, markets, and trades crude oil, natural gas liquids, and refined products, including methanol; and operates, maintains, and develops gas processing plants. In addition, the company develops offshore wind-farms in Northwestern Europe; and develops solutions for carbon capture and storage plant located in Mongstad. It has proved reserves of approximately 5,600 million barrels of oil equivalent. 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 headquartered in Stavanger, Norway.

23,413 Employees
Last Reported Date: 03/21/14
Founded in 1972

statoil asa-spon adr (STO) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: 11.0M NOK
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: 4.1M NOK
Executive Vice President of Development and P...
Total Annual Compensation: 6.7M NOK
Executive Vice President of Exploration
Total Annual Compensation: 4.7M NOK
Executive Vice President for Development & Pr...
Total Annual Compensation: 3.6M NOK
Compensation as of Fiscal Year 2013.

statoil asa-spon adr (STO) Key Developments

Lithuania, Statoil Sign 5 Year LNG Supply Deal Worth Up to EUR 870 Million

Statoil signed a five-year liquefied natural gas (LNG) supply deal preliminary valued at LTL 2.5 billion to LTL 3 billion in total. After the signing ceremony that Lithuania has negotiated a competitive LNG price. Lietuvos Energija (Lithuanian Energy), said that the price will be linked to Britain's National Balancing Point (NBP) index and currently stands at LTL 900 to LTL 1,000 litas per 1,000 cubic meters. (Litgas) has negotiated competitive terms at the global LNG scale. They are tied to a certain formula. In this case, to Britain's gas index. The price of imported gas will correlate with the European Union. If look at the index's movement in the past four months, then the price is between LTL 900 and LTL 1,000 per 1,000 cubic meters. Statoil is to deliver 540 million cubic meters of gas to the Klaipeda LNG terminal annually. This is an estimated minimum capacity at which the facility needs to operate to pay for itself.

Statoil Shutdown Production on Troll C Platform

Statoil shut down production on the Troll C platform in the North Sea on August 17, 2014 after an inspection programme on the platform detected corrosion damage to a pipe connected to the oil export system. The corroded pipe will be replaced. This is expected to require a seven-day shutdown. Troll C has a daily equity production of some 58,000 barrels of oil, and exports 8 million cubic metres of gas. In addition some 34,000 barrels of oil and 2 million cubic metres of gas are transported from the Fram field through the Troll C platform.

Statoil Announces the Launch of its First New Regional Oil Platform

Statoil announced the launch of its first new regional oil platform in nine years. Norwegian Prime Minister Erna Solberg opened the Gudrun platform in the North Sea, the first new oil platform operated on the Norwegian continental shelf since 2005. The field should produce as much as 184 million barrels of oil and gas equivalent over its lifespan.


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