Business History seminar – “Why did Equinor’s foreign direct investment in the US fail?»

Marten Boon (Utrecht University) and Sverre A. Christensen (BI): “Why did Equinor’s foreign direct investment in the US fail? – brainstorming for a paper”

  • Starts:14:00, 1 February 2023
  • Ends:16:00, 1 February 2023
  • Location:BI - Campus Oslo and Zoom
  • Contact:Espen Ekberg (espen.ekberg@bi.no)


When it was revealed in 2020 that Equinor had lost NOK 200 billion on investments in oil and gas in the USA, it was referred to as the biggest industrial scandal in Norwegian history.

How could it happen? Companies that invest abroad should have ownership advantages to compensate for the disadvantage of being a newcomer. Therefore, it is surprising when Marten Boon in his volume of Equinor's history (2022) finds that «unfamiliar terrain (was perceived) as an opportunity rather than a threat" for Equinor.

How could Norway's largest company end up here? In the presentation Marten Boom and Sverre A. Christensen will approach this question from two angels:

Marten Boon (Utrecht University): “Equinor’s FDI in the US after 2000” – presentation based on Boon’s recent book «Statoil and Equinor - 2 - National champion - since 2001»

Sverre A. Christensen (BI): “Research questions on Equinor’s failed FDI in the US” – presentation based on Christensen´s many years of working with state ownership in Norway and internationally.