Ineos divests Norwegian oil business

The British group will now focus its oil business on the UK and Denmark. PGNIG takes over all the company's Norwegian assets for a price of USD 615m.

Among other things, Ineos divests its stakes in deepsea project Ormen Lange and the Nyhamna facility, where the extracted gas is processed. | Photo: Shell PR

by MATHIAS JULIUS FALKENGAARD

In a transaction worth USD 615m, Polish oil firm PGNIG is buying Ineos out of Norway, the latter confirms in a statement.

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