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 […]

RWE to sell oil and gas unit for €5.1bn

German utility RWE said it intends to sell its oil and gas production arm for €5.1 billion (£4.3bn). Russian billionaire Mikhail Fridman’s energy investment vehicle, L1 Energy – which was founded last year – is to buy the Dea unit, gaining assets in the UK, Germany and the North Sea. Dea operates in 14 countries […]