Statoil spends millions on lobbying

Statoil has spent NOK 2.2 million (about USD 358.67k at today’s ROE) so far this year on trying to influence American politics. The company has funded its US lobbying activities with close to NOK 34 million (some USD 5.54 million) since 2001.

The Norwegian energy giant’s annual spending influencing American and European politics comes to several million kroner. Only few countries in which Statoil operates require transparency regarding lobbying.

  • Marius B. Staveli
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Statoil has spent NOK2.2 million (about USD 358.67k at today’s ROE) so far this year on trying toinfluence American politics. The company has funded its US lobbyingactivities with close to NOK 34 million (some USD 5.54 million) since 2001. Last year,Statoil also spentNOK 7.5 million (roughly EUR 898.5k) on promoting their interests directly to European governments.Statoil also engagesin lobbying in Canada.

“Informationpurposes”

Statoil informationmanager JannikLindbæk jr.does not use the word lobbying, but says thecompany attaches importance to informing authorities sothey have a good basis forunderstanding how decisions affectStatoil and the oilindustry.

“We are in contact with the authorities to obtain informationas well as to inform about our businessso that we create an understanding of our needs in issues concerning legislationand regulations. In cases where matters affect importantinterests for Statoil, we work to influencethe process leadingto formulation of relevantframework conditions before theauthority takes a decision,” hesays.

Lobbying is when interestgroups, pressure groups, orcompanies trying to influencepolitical decisions. It shouldnot be confused with corruption,however. All lobbying in the United States, Canada or the EU isrecorded in searchable and publicdatabases.

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