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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Siemens Gamesa drags down majority shareholder

Despite better sales than expected in the gas business, Siemens Energy downgrades its full-year guidance in the wake of Siemens Gamesa’s announcement of potentially massive losses in 2022.

Further reading

Related articles

Latest News

See all jobs