Ineos expands North Sea oil and gas operations
Purchase of Danish Dong Energy and BP’s Forties pipeline will feed Grangemouth refinery
Petrochemicals firm Ineos is expanding its upstream oil and gas extraction operations by acquiring Danish firm Dong Energy’s entire oil and gas business for $1 billion (£825 million), plus a possible $250 million in contingency payments. The company will also buy BP’s Forties pipeline and Kinneil terminal in Scotland for up to $250 million.