Statoil ASA, trading as Statoil and formerly known as StatoilHydro, is a Norwegian oil and gas company, formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. The Government of Norway is the largest shareholder in Statoil with 67% of the shares. The ownership interest is managed by the Norwegian Ministry of Petroleum and Energy. Statoil is a fully integrated petroleum company with production operations in thirteen countries and retail operations in eight. By revenue Statoil is in 2010 ranked by Fortune Magazine as the world's 13th largest oil and gas company, and the largest company in the Nordic region by revenue, profit, and market capitalization. Statoil is the largest operator on the Norwegian continental shelf, with 60% of the total production.
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