Hutton is currently director of oil and gas research in RBC Capital Markets London, and has broad international experience from the oil and gas industry. He has spent 12 years in the oil and gas industry and 16 years within the financial industry.
Mr Reitan commented:
"Peter has extensive insight into the oil and gas industry and the financial markets. He has consistently been ranked as one of the best equity analysts and has a broad network across companies and institutions. I look forward to his contribution to Statoil and to have him as a part of my team."
Statoil recently announced it continues to expand in Australia, with the award of 100% equity share in a large exploration permit located in the prolific Northern Carnarvon Basin on the Northwest shelf of Australia.