Kristin Kragseth is the chief executive of an unassuming giant of the Norwegian oil and gas industry, a company that quietly produced 1 million barrels of oil equivalent per day in 2022 and intends to use its mandate to ensure Norway maintains its crucial role in energy security in Europe.

Petoro was created in 2001 when the Norwegian government split away the state’s direct financial interest (SDFI) in oil and gas assets from the national oil company Equinor, which was then Statoil.