Statoil ASA explores, produces, transports, refines and markets petroleum and petroleum-derived products. The company operates through four segments: Development & Production Norway, Development & Production North America, Development & Production International, and Marketing Processing & Renewable Energy. The Development & Production segments, are organized based on a regional model with geographical clusters or units are responsible for the commercial development of the oil and gas portfolios within their respective geographical areas. The Marketing Processing & Renewable Energy segment is responsible for marketing and trading of oil and gas commodities, electricity and emission rights, as well as transportation, processing and manufacturing of the above mentioned commodities, operations of refineries, terminals, processing and power plants, wind parks and other activities within renewable energy. The company was founded on September 18, 1972 and is headquartered in Stavanger, Norway.