Statoil is a Norwegian Oil and Gas company, in the past it was known as Statoil Hydro and now it is operating as Statoil ASA. It was formed by the union of Statoil with the oil and gas partition of Norsk Hydro. For around 67% shares of the Statoil are shared by the Government of Norway and it is one of the largest shareholders of Statoil Company. Statoil is working in 6 regions worldwide. It is an incorporated Petroleum company. According to the incomes, profits and market capitalization it is the largest company in the region of Nordic.
Strengths
• The strength of the company increases due to the rapid increase in oil supplier market is the reason and this is the reason for the success of the company.
• Statoil have a very strong customer base and have strong relationship with their customers. They have lifetime promising customers that will not choose any other product other than the products of Statoil.
• They are having an upright position in the market, due to which they have gained a secured position in the market.
• They entered in the market when there was no such company that can provide their customers the best product at really reliable cost.
Weaknesses
• Due to the absorption of the resources, their production is highly affected.
• By refusing the stored products, they are losing the quality products. This has also wasted their time.
• By over trusting on the income generation of Europe, they are facing financial crisis. Because of the down fall seen in the European territories.
Opportunities
• Due to the advantage of different support they are growing rapidly in the market, and this is the only reason of their strong foundation in the market.
• The requirement of natural gas is expanding day by day. This would be their chance to work on the international scale.
• By planting new industry that can restore the used power, will save their economy.
• By finding new resources of natural gas and oil their market share will increase and more customers will attract to them.
• They must join hands with some other companies to increase their trade.
Threats
• The competition is getting really passionate, every company wants to be the number one, this is going to be really hard to stay in this market if they ever tried to lose their real position
• If the sources which are supporting the company shows any insecurity in their business which is running all around the world than they may lose their international customers.
• As financial crisis is seen in the economy of Europe, there is always a risk that the company may again face this type of decline again in the future.
• There may be some clashes between the companies in this long run to be a top class company. They may suffer from this.
References
Statoil, Official Website, (2012): http://www.statoil.com/en/Pages/default.aspx Retrieved: 21st Nov, 2012
Yahoo Finance, News, (2012): http://uk.finance.yahoo.com/news/norways-statoil-awarded-7-uk-220027128.html Retrieved: 21st Nov, 2012