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Top for sustainability

September 6, 2004, 09:55 CEST

Statoil has been ranked as the world’s best energy company in terms of sustainability by the Dow Jones Sustainability World Index (DJSI World).

“It’s very gratifying to come top among energy companies world-wide on this list,” says Rolf Magne Larsen, Statoil’s senior vice president for country analysis and social responsibility.

“That provides positive feedback from the market, and shows that our commitment to assisting sustainable development in Norway and internationally is yielding results.

“We’ve made progress from last year in most of the criteria applied in compiling the index. That will encourage a continued commitment in coming years.”

Compared with 2003, Statoil has made particular progress in such areas as codes of conduct, compliance, and corruption and bribery.

In addition, it has recorded gains for corporate governance, renewable energy, labour practice indicators and the social reporting.

Statoil also belongs to several other sustainability indices, including the FTSE4Good Index.

In February 2004, a Goldman Sachs evaluation of sustainability work in the oil industry placed the group third after BP and Shell.