The Guardian – Adam Vaughan

Anglo-Swiss chemicals firm hails acquisition as ‘very logical’ as Danish firm makes progress in switch to renewables

Anglo-Swiss chemicals firm Ineos has bought the oil and gas business of Dong Energy for £1bn, a major milestone in the Danish company’s switch from hydrocarbons to renewable energy.

The acquisition is the latest in a buying spree by Ineos, which recently bought a significant North Sea oil pipeline for £200m from BP, and takes it from 28th biggest oil and gas producer in the region to the top 10.

The move highlights two sharply contrasting strategies for Europe’s energy companies: a doubling-down on fossil fuels or shifting exclusively to focus on clean energy.

Read the full story on The Guardian website here.