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INEOS acquisition of DONG's oil, gas business confirmed

by ChemOrbis Editorial Team -
  • 06/07/2017 (17:22)
According to media reports, the European Commission confirmed the acquisition of Danish DONG Energy’s oil and gas business by the UK’s petrochemical company, INEOS.

In a press release dated 24 May, INEOS had announced its plan to acquire DONG’s oil and gas exploration and production unit for $1.05 billion. The release revealed that DONG produced around 100,000 barrels/day of oil-equivalent and around 570 million barrels/day of oil and gas reserves in Denmark, Norway and the UK in 2016.

With this acquisition, which is expected to be completed by the end of September 2017, Ineos is expected to become one of the top ten companies operating in the North Sea.
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