DONG Energy leaves oil and gas industry for offshore wind
From Reuters
Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals.
The sale is a blow to shipping group A.P. Moller-Maersk, which had sought to merge its oil and gas business with DONG into a company worth more than $10 billion as part of a major restructuring.
For DONG Energy, the world’s biggest operator of offshore wind power, the sale marks a step away from fossil fuels as it seeks to focus solely on offshore wind.