StatoilHydro trades above two million barrels of crude oil and condensate (light oil) per day. These oils are mostly high-quality grades of low to medium density, with a low sulphur content.
The group produces some 850,000 barrels (including natural gas liquids and condensate) per day from the Norwegian continental shelf. It is also responsible for sales and marketing on behalf of the Norwegian state's direct financial interest (SDFI). In addition, the group trades third-party crude oil produced by other North Sea equity owners.
Even after supplying the needs of its two refineries at Mongstad in Norway and Kalundborg in Denmark, StatoilHydro remains the world’s third largest net seller of crude oil.
StatoilHydro has built up an extensive system for global oil trading from offices in Stavanger, London, Stamford (Connecticut) and Singapore. This organization allows the group to trade around the clock.
The Stavanger office markets StatoilHydro's Norwegian crude qualities in Europe. The London office markets StatoilHydro equity production outside Norway, including supplies from the UK continental shelf, West Africa and the Caspian.
In close cooperation with StatoilHydro's European trading offices, its Singapore team handles crude shipments from the North Sea, West Africa, the Mediterranean and the Middle East to Asian destinations. The Singapore office also markets crude from the Lufeng field operated by StatoilHydro in the South China Sea and other regional grades.
StatoilHydro's trading office in Stamford is responsible for trading North Sea, West African and Mediterranean crudes to North American markets, and for sales and marketing of any equity oil to be produced in North America.
The group operates two crude oil terminals at Mongstad and Sture. Both are strategically located near Bergen on the Norwegian west coast, close to the North Sea oil installations.
