INEOS buys North Sea gas fields for £500m

Swiss petrochemicals giant INEOS has bought 12 oil and gas fields in the North Sea for £500 million. The company, which operates the Grangemouth refinery and petrochemicals facility in Scotland, agreed to purchase it from Russian billionaire Mikhail Fridman’s investment fund LetterOne. The deal comes as the UK Government had given Mr Fridman six months […]

UK gives Russian oligarch North Sea deadline

Russian billionaire Mikhail Fridman has been given seven days to justify why he should be allowed to retain ownership of newly bought oil and gas fields in the North Sea. His investment fund LetterOne bought 12 oil and gas fields from German utility RWE, which was finalised earlier this week. The deal went ahead despite […]