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Statoil Asa

The company you are referring to is most likely STO Energy, which is a part of the Phillips 66 portfolio and trades on the NYSE under the ticker symbol STO. Phillips 66 is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties segments.

In terms of financials, STO Energy reported net income of $1.2 billion for the full year 2020, representing a significant decrease from the $2.4 billion in net income reported in 2019. The decrease in net income was primarily due to lower sales volumes and margins in the refining business as a result of the COVID-19 pandemic and lower crude oil prices.

As for growth, STO Energy has been focusing on expanding its midstream and chemicals businesses, which have been less affected by the pandemic. The company has been investing in new pipeline infrastructure and chemicals facilities to increase its scale and competitiveness.

It is important to note that the energy sector, including integrated oil and gas companies, has been facing significant headwinds in recent years due to a variety of factors, including increased regulatory scrutiny, declining demand for fossil fuels, and the rise of renewable energy. Investors should carefully consider these factors and their impact on the long-term prospects of STO Energy and other companies in the sector.

In summary, STO Energy is a diversified energy company with a focus on midstream, chemicals, refining, and marketing and specialties. The company reported a significant decrease in net income in 2020 due to the COVID-19 pandemic and lower crude oil prices, but has been investing in its midstream and chemicals businesses to drive growth. The energy sector, however, faces significant challenges and investors should carefully consider these factors when evaluating STO Energy and other companies in the sector.