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Ineos’ $1bn Dong deal to go through today

Ineos news
Ineos acquired a 51% share on land at Grangemouth in August

Danish company Dong Energy said yesterday that the sale of its upstream oil and gas business to petrochemicals giant Ineos had been approved.

Dong said Danish and Norwegian regulators had given the companies their approval to transfer oil and gas licences in their jurisdictions.

Dong and Ineos expect to complete the transaction today.

The two companies announced the deal in May.

It includes 50 licences in Denmark, Norway and the UK and 100,000 barrels of oil equivalents per day.

The move is part of Dong Energy’s quest to be a pure play renewables company.

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