2021-09-17
http://w3.windfair.net/wind-energy/news/25216-dong-energy-gas-oil-green

DONG Energy Gets Rid of Oil and Gas Business

Image: DONG EnergyImage: DONG Energy
The company has already announced their will to go green in 2016, now the sale of their upstream oil and gas business to INEOS is completed

Official Press Release DONG Energy:

DONG Energy enters an agreement to divest its upstream oil and gas business to INEOS

?DONG Energy has today agreed to divest the entire share capital of DONG E&P A/S to INEOS for an unconditional payment of USD 1,050 million (DKK 7.0 billion) on a cash and debt free basis, a contingent payment of USD 150 million (DKK 1.0 billion) related to the Fredericia stabilisation plant and a contingent payment of up to USD 100 million (DKK 0.7 billion) subject to the development of the Rosebank field.

INEOS will, by acquiring DONG E&P A/S, take over decommissioning liabilities of approximately DKK 7.0 billion. DONG Energy will retain all cash flows until 30 June 2017 (free cash flow was DKK 2.1 billion in Q1, 2017) and retain all hedge contracts related to the Oil & Gas business (market value was DKK 1.9 billion as at 31 March 2017). Completed... ... More: Official Press Release DONG Energy

Keywords:
DONG Energy, gas, oil, green







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