How does the future of oil and gas businesses look like? Image source: Shutterstock (#413910496)
Ineos has bought Dong Energy’s the oil and gas business for £1 billion. The purchase marks an important step in the switch from hydrocarbons to renewable energy. Ineos calls the move a “very logical” step. While some European companies, such as Dong, are aiming at 100 percent renewable energy, others are capitalizing on low oil and gas prices.
“The transaction completes the transformation of Dong Energy into a leading pure play renewables company,” said Henrik Poulsen, chief executive of Dong.
Ineos only recently acquired a large North Sea oil pipeline for around £200 million from BP, now cementing their commitment to oil and gas for the next years.
The Guardian
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