Equinor ASA (formerly Statoil and StatoilHydro ) is a Norwegian state-owned multinational energy company headquartered in Stavanger , Norway . It is primarily a petroleum company operating in 36 countries with additional investments in renewable energy . In the 2020 Forbes Global 2000 , Equinor was ranked as the 169th-largest public company in the world. In 2023, the company was ranked 52nd in the same list. As of 2021, the company has 21,126 employees.
101-619: The current company was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro . As of 2017, the Government of Norway is the largest shareholder with 67% of the shares , while the rest is public stock. The ownership interest is managed by the Norwegian Ministry of Petroleum and Energy . The company is headquartered and led from Stavanger, while most of their international operations are currently led from Fornebu , outside Oslo . The name Equinor
202-463: A National Historic Landmark in 1978. 18 Broad Street is also a New York City designated landmark . The New York Stock Exchange is closed on New Year's Day , Martin Luther King Jr. Day , Washington's Birthday , Good Friday , Memorial Day , Juneteenth National Independence Day , Independence Day , Labor Day , Thanksgiving , and Christmas . When those holidays occur on a weekend,
303-431: A 203-year process of paper transactions and ushering in an era of automated trading. As of January 24, 2007, all NYSE stocks can be traded via its electronic hybrid market (except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume
404-526: A Statoil consultant and two others were tried for having received 7 million Norwegian kroner , in exchange for contracts and payments totaling "several tenfold" of millions of Norwegian kroner. In June 2013, Statoil announced a funded joint venture with Petrofrontier Corp. in Australia. Petrofrontier's Georgina Basin shale oil and gas bearing structures consistent with other producing areas in Australia and North America. In 2016, Statoil licensed 66% of
505-519: A base value of 50 points equal to the 1965 yearly close. This was done to reflect the value of all stocks trading at the exchange, in contrast with the then predominant Dow Jones Industrial Average which tracks just 30 stocks. To raise the profile of the composite index, in 2003, the NYSE set its new base value of 5,000 points equal to the 2002 yearly close. Its close at the end of 2013 was 10,400.32. In October 2008, NYSE Euronext completed acquisition of
606-479: A change of ownership of a corporation holding a trading license. The Barnes family is the only known lineage to have five generations of NYSE members: Winthrop H. Barnes (admitted 1894), Richard W.P. Barnes (admitted 1926), Richard S. Barnes (admitted 1951), Robert H. Barnes (admitted 1972), Derek J. Barnes (admitted 2003) . In the mid-1960s, the NYSE Composite Index (NYSE: NYA) was created, with
707-611: A conclusion as to the cause. The regulators found no evidence that the fall was caused by erroneous ("fat finger") orders. On October 29, 2012, the stock exchange was shut down for two days due to Hurricane Sandy . The last time the stock exchange was closed due to weather for a full two days was on March 12 and 13, 1888. On May 1, 2014, the stock exchange was fined $ 4.5 million by the Securities and Exchange Commission to settle charges that it had violated market rules. On August 14, 2014, Berkshire Hathaway 's A Class shares,
808-556: A deal in which NASDAQ would have taken control of the stock exchanges. NYSE Euronext rejected this offer twice, but it was finally terminated after the United States Department of Justice indicated their intention to block the deal due to antitrust concerns. In December 2012, ICE had proposed to buy NYSE Euronext in a stock swap with a valuation of $ 8 billion. NYSE Euronext shareholders would receive either $ 33.12 in cash, or $ 11.27 in cash and approximately
909-581: A delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted, as well as formal organs of governance. After re-forming as the New York Stock and Exchange Board, the broker organization began renting out space exclusively for securities trading, which previously had been taking place at the Tontine Coffee House . Several locations were used between 1817 and 1865, when
1010-560: A for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. On April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext , the first transatlantic stock exchange. Wall Street is the leading U.S. money center for international financial activities and the foremost U.S. location for the conduct of wholesale financial services. "It comprises
1111-399: A for-profit, publicly traded company. Seat owners received $ 500,000 in cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange. Licenses for floor trading are available for $ 40,000 and a license for bond trading is available for as little as $ 1,000 as of 2010. Neither are resellable, but may be transferable during
SECTION 10
#17327905687101212-896: A large new find at the Skrugard prospect in the northern Norwegian Sea (Barents Sea in Statoil terminology) north of the Snøhvit field off Hammerfest , and a find in the Havis Prospect of the Barents Sea of 200 to 3,000 million barrels (32 to 477 million cubic metres) of oil. In 2011, Statoil bought Brigham Exploration for $ 4.4 billion to gain access to its oil shale operations in North Dakota 's Bakken formation . In 2012, Statoil sent 45,000 barrels of oil per day by railroad cars from North Dakota . In November 2011,
1313-690: A matrix of wholesale financial sectors, financial markets, financial institutions, and financial industry firms" (Robert, 2002). The principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer . Currently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $ 419 million in listings-related revenues. The exchange
1414-485: A more modern, continuous trading system superior to the NYSE's twice-daily call sessions". The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were also competing with the NYSE for customers. Buyers, sellers and dealers all wanted to complete transactions as quickly and cheaply as technologically possible and that meant finding
1515-467: A new era...creating a global energy company and strengthening Norway's oil and gas industry." It has been noted within the analyst community that a proposal will create an entity with much more competitive strength versus its much larger European rivals, including BP , Total , and Shell , while also increasing the ability of the company to make strategic acquisitions, particularly in the Gulf of Mexico . It
1616-593: A proposal to merge with the oil business of Norsk Hydro , a Norwegian conglomerate. Under the rules of the EEA the proposal was approved by the European Union on 3 May 2007 and by the Norwegian Parliament on 8 June 2007. Former Statoil's shareholders hold 67.3% of the new company StatoilHydro , which started operations on 1 October 2007. The company is the biggest offshore oil and gas company in
1717-514: A separate listed company Statoil Fuel & Retail . In 2012 Alimentation Couche-Tard bought Statoil Fuel & Retail for $ 2.8 billion. On 24 May 2010, Statoil sold a 40% stake in the Peregrino field to Sinochem, the Chinese state-controlled oil company, for a cash sum of $ 3.07 billion, but retained 60% and the operatorship. On 7 April 2010, Statoil announced finding oil and gas reserves in
1818-428: A sixth of a share of ICE. Jeffrey Sprecher , the chairman and CEO of ICE, will retain those positions, but four members of the NYSE board of directors will be added to the ICE board. On January 24, 2023, a glitch in NYSE caused panic due to unintentional trade orders opened and closed in more than 250 securities. The NYSE's opening and closing bells mark the beginning and the end of each trading day. The opening bell
1919-743: A two-year test run. In 1965, Hydro joined Elf Aquitaine and six other French companies to form Petronord to perform searches for oil and gas in the North Sea . Hydro soon became a large company in the North Sea petroleum industry and also became the operator of a number of fields, the first being Oseberg . In the late 1980s, Hydro acquired the Mobil service stations in Norway, Sweden, and Denmark, changing their name to Hydro. In 1995, Hydro merged its stations in Norway and Denmark with Texaco , creating
2020-594: A unanimous act passed by the Storting , the Norwegian parliament. The political motivation was Norwegian participation in the oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to establish the foundations of a domestic petroleum industry. Statoil was required to discuss important issues with the Minister of Industry , later Minister of Petroleum and Energy . Statoil
2121-476: Is employed by a NYSE member firm (that is, they are not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to
SECTION 20
#17327905687102222-949: Is involved in a number of pipelines , including Zeepipe , Statpipe , Europipe I and Europipe II , and Franpipe from the Norwegian continental shelf to Western Europe in addition to the Baku-Tbilisi-Ceyhan pipeline in Caucasus . The pipelines from Norway are organized through Gassled . In the North Sea, Equinor operates the Oseberg Transport System , Kvitebjørn oil pipeline, Heidrun gas pipeline, Sleipner East pipeline and Vestprosess pipeline. The company has trading offices for crude oil , refined petroleum products , and natural gas liquids in London , Stamford, Connecticut , and Singapore . History of Statoil (1972%E2%80%932007) Statoil ASA
2323-469: Is open for trading Monday through Friday from 9:30 am – 4:00 pm ET , with the exception of holidays declared by the Exchange in advance. Proposals for round-the-clock trading have been considered by NYSE. The NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who
2424-425: Is rung at 9:30 am ET to mark the start of the day's trading session. At 4 pm ET the closing bell is rung and trading for the day stops. There are bells located in each of the four main sections of the NYSE that all ring at the same time once a button is pressed. There are three buttons that control the bells, located on the control panel behind the podium which overlooks the trading floor. The main bell, which
2525-417: Is rung at the beginning and end of the trading day, is controlled by a green button. The second button, colored orange, activates a single-stroke bell that is used to signal a moment of silence. A third, red button controls a backup bell which is used in case the main bell fails to ring. The ringing of the bells usually accompanied with applause and is often done by VIPs and celebrities (See pictures and
2626-508: Is the ninth largest oil company in the world, and would be the 48th largest company in the world on the current Fortune Global 500 list with a revenue of NOK 480 billion. The company's management team was initially to be led by President and CEO Helge Lund (who previously held the same posts at Statoil), with Eivind Reiten , the President and CEO of Hydro, acting as Chairman. However, Reiten decided to resign as chairman three days after
2727-561: The 1997 Mini-Crash but from which the DJIA recovered quickly. This was the first time that the " circuit breaker " rule had operated. On January 26, 2000, an altercation during filming of the music video for Rage Against the Machine 's " Sleep Now in the Fire ", directed by Michael Moore , caused the doors of the exchange to be closed and the band to be escorted from the site by security after
2828-668: The American Stock Exchange (AMEX) for $ 260 million in stock. On February 15, 2011, NYSE and Deutsche Börse announced their merger to form a new company, as yet unnamed, wherein Deutsche Börse shareholders would have 60% ownership of the new entity, and NYSE Euronext shareholders would have 40%. On February 1, 2012, the European Commission blocked the merger of NYSE with Deutsche Börse , after commissioner Joaquín Almunia stated that
2929-629: The Buttonwood Agreement . Previously, securities exchange had been intermediated by the auctioneers , who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792, twenty-four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from
3030-478: The European Union on 3 May 2007 and by the Norwegian Parliament on 8 June 2007. Statoil's shareholders hold 67.3% of the new company, with Norsk Hydro shareholders owning the remaining 32.7%. The Norwegian Government, the biggest shareholder in both Statoil and Norsk Hydro, holds 67% of the company. Jens Stoltenberg , the then Norwegian Prime Minister , commented that he viewed the merger as "the start of
3131-789: The Financial District of Lower Manhattan in New York City . It is the largest stock exchange in the world by market capitalization . The NYSE trading floor is located at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark . A previous trading room, at 30 Broad Street , was closed in February 2007. The NYSE is owned by Intercontinental Exchange , an American holding company that it also lists (ticker symbol ICE). Previously, it
Equinor - Misplaced Pages Continue
3232-698: The Gullfaks field. 1987–88 saw the largest scandal in the companies history, the Mongstad scandal that made the until then unassailable CEO Arve Johnsen withdraw. The company was privatised and made a public limited company ( allmennaksjeselskap ) in 2001, becoming listed on both the Oslo Stock Exchange and the New York Stock Exchange . At the same time it changed its name to Statoil ASA . In December 2006 Statoil revealed
3333-536: The Kai Kos Deh Seh project: Leismer , Corner, Hangingstone , and Thornberry). In 2009, Statoil launched the world's first operational deep-water floating large-capacity wind turbine, Hywind. The 120 metres (390 ft) tall tower with a 2.3 MW turbine was towed 10 kilometres (6.2 mi) offshore into the Amoy Fjord in 220 metres (720 ft) deep water, off of Stavanger, Norway on 9 June 2009 for
3434-455: The Minister of Industry , later Minister of Petroleum and Energy . Statoil was also required to submit an annual report to the parliament . In 1973, the company started work acquiring a presence in the petrochemical industry . This resulted in the development of processing plants in Rafnes and, in partnership with Norsk Hydro , the Mongstad plant in 1980. In 1981, the company acquired, as
3535-463: The Oslo Stock Exchange and the New York Stock Exchange . At the same time, it changed its name to Statoil ASA . The government retained 81.7% of the shares. Through further privatization in 2004 and 2005, the government's share was reduced to 70.9%. The Statoil/Horton case refers to the company's use of bribes in Iran in 2002–2003 in an attempt to secure lucrative oil contracts in that country. This
3636-468: The U.S. Securities and Exchange Commission , with a president and a thirty-three-member board. On February 18, 1971, the non-profit corporation was formed, and the number of board members was reduced to twenty-five. One of Abbie Hoffman 's well-known publicity stunts took place in 1967, when he led members of the Yippie movement to the Exchange's gallery. The provocateurs hurled fistfuls of dollars toward
3737-532: The joint venture HydroTexaco . The service station chain was sold in 2006 to Reitangruppen . In 1999, Hydro acquired Norway's third-largest petroleum company Saga Petroleum , which had major upstream operations primarily in Norway and the United Kingdom . The British operations were later sold. A merger proposal was announced in December 2006. Under the rules of the EEA , the merger was approved by
3838-478: The 2011 rule change, at the start of each trading day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of the S&;P 500 for the preceding trading day. Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25 pm, when no trading halts apply. A Level 3 decline results in trading being suspended for
3939-511: The 2020s, and continually decline thereafter due to electric transportation . Despite finding no oil at its large exploration prospect in the Arctic in 2017, Statoil announced in October 2017 that the company would not give up exploring the Arctic. In October 2017, Statoil commissioned the 30-MW Hywind Scotland floating wind farm 29 kilometres (18 mi) off Peterhead , Scotland . Equinor
4040-460: The 2nd most hazardous pollutant. Since the leaks, Statoil has stated that the oil has mostly dissolved, and there is not much proof of ecological harm. The Norwegian government has not stopped the oil drilling in the Arctic waters, and Statoil started up its oil operations in April 2005. Bellona , a Norwegian environmental group, is looking to take legal action. They want the end of oil drilling in
4141-510: The Bakken formation of North Dakota to Grayson Mill Energy for $ 900 million. That month, a spokesperson for the company stated that Equinor was considering further sales of energy assets in the US, in the aftermath of the global oil price war. In May 2021, Equinor and Italian energy company Eni announced that they were partnering on developing floating wind farms in the North Sea under a contract with
Equinor - Misplaced Pages Continue
4242-594: The Barents Sea. In 1991 there arose a controversy between Statoil and local environmentalists, mainly from Natur og Ungdom and Friends of the Earth Norway , who protested the building of a new research and development centre at Rotvoll in Trondheim , Norway, wetlands area close to the city with significant bird life. The controversy was climaxed with civil disobedience by the environmentalists, but
4343-647: The Carcará field in the Santos basin from Petrobras for $ 2.5 billion. In October 2014, Statoil sold its 15.5% stake in the Shah Deniz gas field in Azerbaijan to Petronas for a fee of $ 2.25 billion. Since 1 October 2014, Statoil also supplies natural gas to Ukraine 's Naftogaz . In 2016, Statoil acquired a $ 3 million share of a US wind turbine leasing company. Statoil expects oil demand to peak in
4444-423: The Earth Norway , who protested the building of a new research and development centre at Rotvoll , in Trondheim , Norway , a wetlands area close to the city with significant bird life. The controversy climaxed with civil disobedience by the environmentalists, but the centre was still built. The company was privatised and made a public limited company ( allmennaksjeselskap ) in 2001, becoming listed on both
4545-481: The Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday , October 29, are often blamed for precipitating the Great Depression . In an effort to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938. On October 1, 1934, the exchange was registered as a national securities exchange with
4646-732: The Fossekall prospect just north of the Norne oil field in the Norwegian Sea. The proved recoverable oil resources were provisionally estimated at between 37 and 63 million barrels (5,900,000 and 10,000,000 m), while the volume of associated and free gas was estimated at between 1 and 3 billion standard cubic metres . In early June 2011, Statoil ASA has divested 24.1% shares in Gassled joint venture for NOK 17.35 billion ($ 3.25 billion) to Solveig Gas Norway AS and still has 5% shares in
4747-431: The NYSE imposed rules restricting brokers from voting uninstructed shares. The Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. On April 21, 2005, the NYSE announced its plans to merge with Archipelago in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, and became
4848-460: The NYSE reopened on May 26, 2020. The main New York Stock Exchange Building , built in 1903, is at 18 Broad Street, between the corners of Wall Street and Exchange Place, and was designed in the Beaux Arts style by George B. Post . The adjacent structure at 11 Wall Street, completed in 1922, was designed in a similar style by Trowbridge & Livingston . The buildings were both designated
4949-460: The Norwegian business daily Dagens Næringsliv , raised the question of Equinor and resource curse . Much economic research show that, while natural resources are positive for nations with sound political structures, such as Norway, they are negative for nations with unsound political structures, and will, despite the riches, result in a lower economic growth. Besides his own research, Moene also points to similar results from Paul Collier . Equinor
5050-633: The Norwegian continental shelf, Equinor operates oil and gas fields in Australia , Algeria , Angola , Azerbaijan , Brazil, Canada , China, Libya , Nigeria , Russia , United Kingdom , United States , and Venezuela . Statoil has offices that are looking for possible ventures in the countries of Mexico , Qatar and the United Arab Emirates . The company has processing plants in Belgium , Denmark , France, and Germany. In 2006, Statoil
5151-402: The Norwegian government allowed oil exploration, as long as there were no emissions. After the merger to StatoilHydro, in December 2007, 25,000 barrels (4,000 m ) of oil leaked into the North Sea. This was Statoil's 2nd worst oil spill. Two leaks also occurred in February 2008. In March, Statoil dropped about 1.6 tons of pure hydraulic oil in the Barents Sea. Hydraulic oil is said to be
SECTION 50
#17327905687105252-789: The Norwegian government. Equinor partnered with Norwegian renewable energy company Vårgrønn in 2021 to acquire wind acreage in the Utsira Nord region of the North Sea. Equinor is the largest operator on the Norwegian continental shelf , with 60% of the total production. The fields operated are Brage, Heimdal, Grane, Glitne, Gullfaks , Heidrun , Huldra, Kristin, Kvitebjørn, Mikkel, Njord, Norne, Ormen Lange , Oseberg , Sleipner , Snorre , Snøhvit , Statfjord , Sygna, Tordis, Troll , Veslefrikk, Vigdis, Visund, Volve, and Åsgard. The company also has processing plants at Kolsnes , Kårstø , Mongstad , Tjeldbergodden , and Melkøya . In addition to
5353-780: The Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America , along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange. In 1817, the stockbrokers of New York, operating under the Buttonwood Agreement , instituted new reforms and reorganized. After sending
5454-600: The Russian petroleum sector. Many partnerships have been entered, but the company has never had a major success in Russia. It partnered with Gazprom and Total on the Shtokman project in the Barents Sea, but this was shelved due to high costs and low gas prices. It then shifted from partnership with Gazprom to Rosneft, and in the two companies, have drilled for oil in several areas of Russia, again without any major finds. After
5555-468: The United States, Canada and the United Kingdom, in response to falling oil prices. In January 2021, Equinor acquired a contract to provide off-shore wind power to the city of New York in partnership with BP . The contract with New York State was reportedly the largest offshore wind deal offered by an American state to date. In February 2021, Equinor completed the sale of its shale assets in
5656-486: The annual general meeting. Between 2007 and 2019, the company reported massive losses, including over USD $ 21.5 billion lost from its US-based assets. In 2019, the company sold its assets in Eagle Ford, Texas to Repsol for $ 325 million. In August 2020, Equinor appointed Anders Opedal as its new CEO. That year, the company announced that it would be decreasing employee numbers by 20% and contractor numbers by half in
5757-402: The button that signals the bells to ring. Due to the amount of coverage that the opening/closing bells receive, many companies coordinate new product launches and other marketing-related events to start on the same day as when the company's representatives ring the bell. It was only in 1995 that the NYSE began having special guests ring the bells on a regular basis; prior to that, ringing the bells
5858-409: The centre was still built. The Statoil corruption case refers to the company's misconduct and use of corruption in Iran in 2002/2003 in an attempt to secure lucrative oil contracts in that country. This was mainly achieved by hiring the services of Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President Hashemi Rafsanjani . Horton Investments
5959-557: The company accepted a $ 10.5 million fine for violating the U.S Foreign Corrupt Practices Act . In September 2007, Statoil and the Brazilian oil company Petrobras signed a deal aimed at expanding exploration, sub-sea, and biofuels cooperation. Under the agreement, Statoil became a partner on six offshore licenses, as well as expanding biofuels production. Petrobras and Statoil announced plans to create dozens of refineries in Brazil and
6060-402: The company after the merger was initially 62.5%. As a parliamentary decision in 2001 said it was a goal that the government should own 67% of Statoil, it was announced that the Norwegian government intended to increase its share. In 2009, it was announced that the Norwegian government had reached its goal of obtaining 67% of Statoil's share. In 2010, Statoil separated its downstream business into
6161-423: The cost of seat reached a then-record $ 185,000. The most expensive inflation-adjusted seat was sold in 1929 for $ 625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $ 4 million in the late 1990s and as low as $ 1 million in 2001. In 2005, seat prices shot up to $ 3.25 million as the exchange entered into an agreement to merge with Archipelago and became
SECTION 60
#17327905687106262-408: The crowd that helps to bring buyers and sellers together. The auction process moved toward automation in 1995 through the use of wireless handheld computers (HHC). The system enabled traders to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1000 shares of IBM through this HHC ending
6363-449: The first Norwegian company, operator rights on the Norwegian continental shelf on the Gullfaks field. 1987–88 saw the largest scandal in the company's history, the Mongstad scandal that made the until then unassailable CEO Arve Johnsen withdraw. In the 1980s, Statoil decided to become a fully integrated petroleum company and started building the Statoil fuel station brand. The stations in Norway originated as Norol stations, while
6464-406: The gong was switched to the bell format that is currently being used. The bell itself was produced by Bevin Brothers in East Hampton, Connecticut , which is known colloquially as "Bell Town" for its history of bell foundries and metal toy manufacturing. A common sight today is the highly publicized events in which a celebrity or executive from a corporation stands behind the NYSE podium and pushes
6565-416: The highest priced shares on the NYSE, hit $ 200,000 a share for the first time. On July 8, 2015, technical issues affected the stock exchange, halting trading at 11:32 am ET. The NYSE reassured stock traders that the outage was "not a result of a cyber breach", and the Department of Homeland Security confirmed that there was "no sign of malicious activity". Trading eventually resumed at 3:10 pm ET
6666-429: The holiday is observed on the closest weekday. In addition, the Stock Exchange closes early on the day before Independence Day, the day after Thanksgiving, and Christmas Eve. The NYSE averages about 253 trading days per year. The New York Stock Exchange (sometimes referred to as " The Big Board ") provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. The NYSE
6767-440: The introduction of international sanctions during the Russo-Ukrainian War against Russia, Equinor has kept a much lower public profile on its Russian activities while continuing largely as before. Equinor left Russia in September 2022 after striking a deal with Rosneft , selling its Russian assets and transferring future liabilities and investment commitments for one euro. The Norwegian economics professor Karl Ove Moene has, in
6868-430: The markets with the most trading, or the greatest liquidity in today's parlance. Minimizing competition was essential to keep a large number of orders flowing, and the merger helped the NYSE maintain its reputation for providing superior liquidity." The Civil War greatly stimulated speculative securities trading in New York. By 1869, membership had to be capped, and has been sporadically increased since. The latter half of
6969-441: The members attempted to gain entry into the exchange. In the aftermath of the September 11 attacks , the NYSE was closed for four trading sessions, resuming on Monday, September 17, one of the rare times the NYSE was closed for more than one session and only the third time since March 1933. On the first day, the NYSE suffered a 7.1% drop in value (684 points); after a week, it dropped by 14% (1,370 points). An estimated $ 1.4 trillion
7070-530: The merger "would have led to a near-monopoly in European financial derivatives worldwide". Instead, Deutsche Börse and NYSE would have to sell either their Eurex derivatives or LIFFE shares in order to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche Börse agreed to scrap the merger. In April 2011, Intercontinental Exchange (ICE), an American futures exchange , and NASDAQ OMX Group had together made an unsolicited proposal to buy NYSE Euronext for approximately US$ 11,000,000,000,
7171-418: The merger because of a possible corruption case in Hydro's former oil division. The Vice-Chair and former Minister of Petroleum and Energy Marit Arnstad served as chairperson until 1 April 2008, when Svein Rennemo took up the post on a permanent basis after resigning as the CEO of the Norwegian oil services company Petroleum Geo-Services (PGS). To reflect a merger of the two companies and with regards of
7272-545: The minor partner, Hydro, it was decided that the joint company should be given a new name. An actual new name was not decided upon at the time of the merger, and StatoilHydro was created for temporary usage only. The firm announced its intention to revert to the name Statoil ASA , and this was approved by the Annual General Meeting in May 2009. The name was changed on 2 November 2009 The Norwegian state's share of
7373-486: The nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was eventually seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression . The NYSE has also imposed additional rules in response to shareholder protection controls, e.g. in 2012,
7474-629: The parent company of United Airlines , which broke down. When the UAL deal fell through, it helped trigger the collapse of the junk bond market causing the Dow to fall 190.58 points, or 6.91 percent. Similarly, there was a panic in the financial world during the year of 1997; the Asian Financial Crisis . Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as
7575-525: The partnership. In 2016 Statoil sold the Leismer oil sand operation in Canada to Athabasca Oil. In 2011–2012, Statoil announced a new discovery in the North Sea of 0.5 to 1.2 billion barrels (79 to 191 million cubic metres), a large new find at its Aldous Major South prospect on the Norwegian continental shelf with recoverable oil between 0.9 to 1.5 billion barrels (140 to 240 million cubic metres),
7676-488: The present location was adopted. The invention of the electrical telegraph consolidated markets and New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership (which had 533) "because it used
7777-455: The remainder of the day. (The biggest one-day decline in the S&;P 500 since 1987 was the 11.98% drop on March 16, 2020 .) Until 2005, the right to directly trade shares on the exchange was conferred upon owners of a limited number of "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number
7878-552: The rest of the world where vegetable oil will be added to crude to create a no-sulphur fuel. On 4 March 2008, Statoil bought Anadarko Petroleum 's 50% share of the Peregrino oil field for $ 1.8 billion. In 2007, Statoil bought a large area in the Athabasca oil sand field in Canada after purchasing North American Oil Sands Corporation for $ 2.2 billion. (In 2012, Statoil had 4 oil sand licences ( oljesandlisensene ) as part of
7979-609: The same day. On May 25, 2018, Stacey Cunningham , the NYSE's chief operating officer, became the Big Board's 67th president, succeeding Thomas Farley. She is the first female leader in the exchange's 226-year history. In March 2020, the NYSE announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the COVID-19 pandemic . Along with the PHLX and the BSE ,
8080-516: The second-biggest one-day drop the exchange had experienced. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades. Subsequently, there was another major drop for the Dow on October 13, 1989—the Mini-Crash of 1989 . The crash was apparently caused by a reaction to a news story of a $ 6.75 billion leveraged buyout deal for UAL Corporation,
8181-404: The section "Notable bell-ringers"). The signal to start and stop trading was not always a bell; a gavel was the original signal, which is still utilized alongside the bell. However, the gavel is frequently damaged. During the late 1800s, the NYSE decided to switch the gavel for a gong to signal the day's beginning and end. After the NYSE changed to its present location at 18 Broad Street in 1903,
8282-558: The stations in Denmark and Sweden were purchased from Esso in 1985, and the stations in Ireland were purchased from British Petroleum in 1992 and ConocoPhillips Jet in the mid 1990s, then sold by Statoil to Topaz Energy in 2006. Statoil also built up a network of stations in part of Eastern Europe in the 1990s. In 1991, a controversy arose between Statoil and local environmentalists , mainly from Natur og Ungdom and Friends of
8383-482: The summer of 2005, five men from County Mayo were jailed for contempt of court after refusing to obey a temporary court injunction forbidding them to interfere with work being undertaken on their land. The ensuing protests led to the Shell to Sea campaign that opposes the project. New York Stock Exchange The New York Stock Exchange ( NYSE , nicknamed " The Big Board ") is an American stock exchange in
8484-483: The trading floor below. Some traders booed, and some laughed and waved. Three months later the stock exchange enclosed the gallery with bulletproof glass. Hoffman wrote a decade later, "We didn't call the press; at that time we really had no notion of anything called a media event." On October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped 508 points, a 22.6% loss in a single day,
8585-401: The world, and a major supplier of natural gas to the European continent, Statoil also operated around 2000 service stations in 9 countries. The company's CEO from mid-2004 onwards was Helge Lund , formerly CEO of Aker Kværner . Den Norske Stats Oljeselskap A/S ( Norwegian State Oil Company ) was founded as a private limited company owned by the Government of Norway on 14 July 1972 by
8686-503: The world. In November 2009, StatoilHydro changed its name to simply Statoil, following a prolonged name debate that sparked considerable public interest. Statoil had three oil spills in Arctic waters near Norway. All the spills occurred from its ocean rig called the Erik Raude. The company was searching for oil in the region, which environmentalists were against because they wanted the sensitive area free from pollution. However,
8787-452: Was a Norwegian petroleum company established in 1972. It merged with the oil and gas division of Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro. Statoil was the largest petroleum company in the Nordic countries . In the 2013 Fortune 500 , Statoil
8888-501: Was adopted in 2018 and is formed by combining equi , the root for words such as equity , equality , and equilibrium , and nor , indicating that the company is of Norwegian origin. The Norwegian meaning of the former name Statoil is 'state oil', indicating that the oil company is state-owned . The heritage of Equinor derives from three major Norwegian petroleum companies Statoil , Norsk Hydro , and Saga Petroleum (the latter two merged in 1999). Den Norske Stats Oljeselskap A/S
8989-462: Was also required to submit an annual report to the parliament. In 1973, the company started work acquiring a presence in the petrochemical industry . This resulted in the development of processing plants in Rafsnes and, in partnership with Norsk Hydro , the Mongstad plant in 1980. In 1981 the company acquired, as the first Norwegian company, operator rights on the Norwegian continental shelf on
9090-462: Was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds , and completely reopened for stock trading in mid-December. On September 16, 1920, the Wall Street bombing occurred outside the building, killing forty people and injuring hundreds more. The Black Thursday crash of
9191-634: Was contracted to build a wind tower assembly farm in New York City that same year. In March 2018, Statoil acquired a 50% stake in the Polish Bałtyk Środkowy III and Bałtyk Środkowy II (Middle Baltic II/III) offshore wind farms. In February 2024, Equinor and Deepak Fertilizers and Petrochemicals Corporation limited (DFPCL) entered into a 15-year agreement to supply natural gas liquids annually from 2026. The annual supply will be up to 0.65 million tons of gas. On 15 March 2018, Statoil announced that it would change its name to Equinor following approval by
9292-536: Was delivered to the floor electronically. NYSE works with US regulators such as the SEC and CFTC to coordinate risk management measures in the electronic trading environment through the implementation of mechanisms like circuit breakers and liquidity replenishment points. Following the Black Monday market crash in 1987, NYSE imposed trading curbs to reduce market volatility and massive panic sell-offs. Following
9393-434: Was founded as a limited company owned by the Government of Norway on 14 July 1972 by a unanimous act passed by the Norwegian parliament Stortinget . The political motivation was Norwegian participation in the oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to establish the foundations of a domestic petroleum industry. Statoil was required to discuss important issues with
9494-468: Was given approval to implement the world's largest carbon sequestration project as a means to mitigate carbon emissions to the atmosphere. Equinor is a partner in Brazil's offshore Peregrino oil field, which came on-stream in 2011. Equinor holds a 15.625% interest in the Deep Blue well on Green Canyon 723 in the deepwater Gulf of Mexico. Equinor has a long history of attempting to get involved in
9595-413: Was increased several times over the years. In 1953, the number of seats was set permanently at 1,366. These seats were a sought-after commodity as they conferred the ability to directly trade stock on the NYSE, and seat holders were commonly referred to as members of the NYSE. Seat prices varied widely over the years, generally falling during recessions and rising during economic expansions. In January 1927
9696-495: Was lost within five days of trading. The NYSE was only 5 blocks from Ground Zero . On May 6, 2010, the Dow Jones Industrial Average posted its largest intraday percentage drop since the crash on October 19, 1987, with a 998-point loss later being called the 2010 Flash Crash (as the drop occurred in minutes before rebounding). The SEC and CFTC published a report on the event, although it did not come to
9797-485: Was mainly achieved by hiring the services of Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President Hashemi Rafsanjani . Horton Investments was paid US$ 15.2 million by Statoil to influence important political figures in Iran to grant oil contracts to Statoil. The corruption scandal was uncovered by the Norwegian paper Dagens Næringsliv on September 3, 2003. In 2006,
9898-458: Was paid US$ 15.2 million by Statoil to influence important political figures in Iran to grant oil contracts to Statoil. The corruption scandal was uncovered by Norwegian paper Dagens Næringsliv on 3 September 2003. Statoil was a partner of Royal Dutch Shell in the Corrib gas project , which entails developing a natural gas field off the west of Ireland. The project has proved controversial. In
9999-503: Was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext . According to a Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds , or retirement accounts . The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to
10100-470: Was ranked as the 39th -largest company in the world. While Statoil was listed on both the Oslo Stock Exchange and the New York Stock Exchange , the Norwegian state still held majority ownership, with 64%. The company's headquarters are located in Norway's oil capital Stavanger . The name Statoil was a truncated form of the State's oil (company) . Statoil was one of the largest net sellers of crude oil in
10201-461: Was usually the responsibility of the exchange's floor managers. Many of the people who ring the bell are business executives whose companies trade on the exchange, usually to announce new products, acquisitions, mergers or public offerings. However, there have also been many famous people from outside the world of business that have rung the bell, such as the Mayor of New York City Rudy Giuliani and
#709290