EnergyWatch

Dong to hand over slimmed oil division to unknown buyer

Dong has shrunk its oil and gas division heavily, buying the company time to await the right purchase offer, says one analyst. 

Photo: CARSTEN INGEMANN

It is rare to hear good news from oil and gas companies, but although Dong Energy's "black business" continues to face significant challenges, there is hope for the future.

Despite the fact that Dong continues to be squeezed by low oil prices and that the division's numbers are not exactly impressive, CEO Henrik Poulson and the company have made sustainable cuts in the Oil and Gas (O&G) division –  so much, that the company's decision to divest O&G does not need to take effect in a hurry.

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