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Statoil changes its name to Equinor
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Report summary
Statoil’s rebranding as Equinor is a bold reinforcement of the company’s shift towards new energy solutions and low carbon. Its strategy has become differentiated from the other Majors under the leadership of CEO Eldar Sætre with a clear target to invest 15-20% of its overall capital budget on new energy solutions by 2030. But the risk for Equinor is that renewables investment dilutes the value proposition of oil and gas, which will remain core to the rebranded business.
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