The Norwegian state  

Statoil was partially privatised and listed on 18 June 2001, and became a public limited company.

After the initial offering the government retained 81.7 per cent of the Statoil shares.

The Storting has resolved that state ownership in Statoil can be reduced to two-thirds of the shares. In July 2004 and February 2005, the government implemented a further sale of shares.

In each round, 100 million shares were sold to institutional investors in Norway and abroad, and an additional 17.65 million shares were sold in a retail offering to private individuals in Norway and the European Economic Area (EEA).

Pursuant to the agreed exchange ratio as part of the merger with Hydro’s oil and gas activities, the State’s ownership interest in StatoilHydro represented 62.5%. In accordance with the Storting’s decision of 2001 concerning a minimum state shareholding of twothirds in Statoil, the Government has expressed its intention to increase the state’s shareholding in StatoilHydro to 67%. An update of the laregst shareholders in StatoilHydro is found here.

The ownership interest is managed by the Ministry of Petroleum and Energy.  

Read more about the Norwegian state's participation in the petroleum sector

(external link):

Ministry of Petroleum and energy