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Discount deal with major retailer

December 13, 2006, 08:30 CET

One of largest motor fuel agreements in Norway has been concluded by Statoil with the country's Coop retail cooperative, whose members will get a fixed discount on service station purchases.

Due to come into force next May, this deal is to run alongside Coop's existing fuel agreement with Esso Norway. But a partnership with YX Energi (Hydro Texaco) will be dropped.

This collaboration brings together two strong brands and two highly visible players in the Norwegian retail sector.

Coop members will be entitled to discounts on the pump price of motor fuel at 500 Statoil stations in Norway, as well as on paraffin and heating oil purchases from the group.

The agreement represents a very important development for Statoil, with a substantial potential.

"This is a welcome day for us, and the start of a new era," says Dag Roger Rinde, president of the group's Statoil Norge retail arm.

"The Coop agreement ranks as the largest and most important motor fuel deal in Norway, and we're grateful for the confidence being shown us.

"Competition over motor fuel customers is tough, and we'll be doing our utmost to ensure that Coop members choose us from next May."

"We've secured a very good agreement with Statoil, and are proud to be able to offer our members an even better service than before," says Nils A Steigedal, president of Coop NKL.

The deal also means that Coop members can use their membership and charge cards at all Statoil's 1-2-3 automated stations, as well as with the Best chain of service stations.

Coop's object is to provide value for its owners, who are the members. There are some 1,060,000 of these nationwide, laying the basis for the country's most successful charge card programme.

Further information from:
Knut Hansen, acting public affairs manager, Statoil Norge, tel: +47 91 73 80 53