EquinorCopied

Statoil had carried the name since 1973, a shortening of Den norske stats oljeselskap. By 2018 both halves had problems: Stat, for state-owned, had been imperfect since part-privatisation in 2001, and oil was not something the company wanted to be identified with exclusively as it framed itself as a winner of the energy transition. On 15 March 2018 the board proposed a new name, Equinor, approved by shareholders on 15 May.

Chief executive Eldar Sætre called it a historic day: Statoil had served well for almost 50 years, but looking ahead to the next 50 and the global energy transition, a change had become natural. Chair Jon Erik Reinhardsen said the name reflected changes already under way. The name combines equi, meant to suggest justice, equality and balance, with nor for the company's Norwegian roots.

Kampanje reported that the British agency Superunion helped develop the name and identity. The logo, the company's fifth, kept the star introduced in 2009, when the merged StatoilHydro returned to the Statoil name with a magenta star; it was reconfigured and its magenta turned red. Communications director Reidar Gjærum said the forward-looking name would build pride internally and appeal to investors, partners and talent. A film by Try Reklamebyrå said goodbye to the old name.

The criticism was immediate. Arve Johnsen, the company's first chief executive, regretted losing the goodwill of the original name and asked whether it was greenwashing, pointing out that the articles of association still described a petroleum company. Others heard equus, Latin for horse; one industry chief replied that the horse could be called anything as long as it pulls.

Kampanje recalled how recent the previous identity was. Less than ten years earlier, after the merger with Hydro, Statoil had adopted a pink star, sometimes read as a drill bit, with a visual profile by a Scandinavian design group. Now the board proposed Equinor, built from equal and Nor, to be approved at the May 2018 general meeting. The chairman said the world was changing and the name reflected changes already under way, while the chief executive called it a historic day after almost 50 years of Statoil. Two identities in a decade is a lot of churn for Norway's largest industrial company.

Johnsen's charge is hard to dismiss. A vague, invented name and a softened star are classic tools for an oil company that wants to be seen as something else. As identity work it is competent, and keeping the star preserves continuity, but the name makes a promise the business would have to prove.