Statoil opens for a new ownership structure for its energy and retail business

"The energy and retail business has developed significantly in recent years, and is today strongly positioned in its markets. In the future, we believe that this unit's growth and further development will be best achieved as an independent company with direct access to the capital markets," says Statoil's chief executive, Helge Lund.

"A new ownership structure will help further strengthen this business, for the benefit of the customers, as well as the employees," says Jon Arnt Jacobsen, executive vice president for the Manufacturing & Marketing business area."The energy and retail business has other value creation drivers than Statoil's other activities. In addition the businesses are developing in different geographical directions. We therefore believe that now is the time for a more independent role for E&R," Jacobsen says.