French energy giant Total to buy Maersk Oil for $7.45bn

Total has agreed to buy Maersk Oil in a $7.45 billion (£5.8bn) deal. The French oil giant will acquire 100% of the Danish exploration and production company from A.P. Moller Maersk Group when the deal is approved. It will see A.P. Moller Maersk receive a consideration of $4.95 billion (£3.8bn) in Total shares and Total […]

UK gives green light to £3bn North Sea gas field

The UK Oil & Gas Authority has given the green light to develop a new gas project worth £3 billion in the North Sea. The Culzean field is expected to produce enough gas to meet 5% of the demand in the country at peak in 2020/2021. It was discovered in 2008 by Danish company Maersk […]