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A PEST(LE) analysis of: By: Erik Bruun-Olsen & Simen Stockinger Statoil ASA is a Norwegian Renewable Energy, Oil and Gas company, where the government of Norway is the main shareholder with 67 % of the shares. Statoil was established as a wholly state-owned company on 14th of July in 1972, and it was ranked as the 13th biggest Oil and Gas Company in the world by Fortune Magazine. Statoil is today a considerable international company, with 22.000 employees in 36 countries all over the world and it is Europe’s second largest natural gas supplier. The company manages the whole value chain from exploration and development of oil and gas fields to operations of production platforms and retailing of oil and gas products. Statoil…show more content…
Supply of oil and gas fluctuates more than demand, and is mainly affected access to scarce resources, costs and (lac) of production, weather conditions, government policies and political risks. Even though that oil prices have been limited high in the past years, many oil companies have struggled with lower profit. Statoil has been lucky of having the North Sea as it biggest source of income, and the past two years, Statoil has found significant oil and gas fields in Barents Sea, North Sea, Peregrino (Brazil) and Zafarani and Lavani (Tanzania). Social: The most important social forces that can shape and change Statoil and the oil industry are the demographic changes, changes in lifestyle and distribution, knowledge of business countries and levels of education in a growing environment. The current changes in the demographics will face the oil business and Statoil. The business is young, so a big portion of employees will be retiring and replaced by the y-generation. Statoil is known as a very attractive company for the up and coming generation, and it is currently a war within the industry, and hopefully Statoil will be first in line. There is an outermost growing demand for petroleum, oil and gas due to a constant growing population in the world and strong economic growth in the industrializing countries in the world. Understanding and managing social risk are extremely important for Statoil before they operate/do business in countries.
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