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Statoil was partially privatised and listed on the stock exchange on 18 June 2001, when it became a public limited company. After the initial offering, the government retained 81.7% of the Statoil shares.
Through public share offerings in 2004 and 2005 the state reduced its shareholding in Statoil to 70.9%.
Pursuant to the agreed exchange ratio as part of the merger with Hydro's oil and gas activities, the State's ownership interest in Statoil was 62.5%, or 1,992,959,739 shares on 1 October 2007. In accordance with the Storting's decision of 2001 concerning a minimum state shareholding of two-thirds in Statoil, the Government expressed its intention to increase the state's shareholding in Statoil over time to 67%.
During 2008, the Government built up the State's ownership interest in Statoil by buying shares in the market. On 5 March 2009 the Government announced that the State's ownership interest had reached 67%.
The ownership interest is managed by the Ministry of Petroleum and Energy.