Norway\u0027s Equinor is close to reaching a deal to buy Suncor Energy\u0027s British North Sea oil and gas assets for around $1 billion. Read on.
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Equinor, which already owns 40 per cent of Rosebank, had previously estimated the project’s cost at about 4.3 billion pounds . London-listed Ithaca Energy holds the remaining 20 per cent in the Rosebank development. The deal follows the British government’s decision late last year to increase a windfall tax on North Sea oil and gas producers to 35 per cent from 25 per cent, bringing the total tax rate to 75 per cent, one of the highest in the world.Article content
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Equinor nears deal to buy Suncor’s British North Sea oil and gas assets for around US$1-billion, sources sayThe deal includes Suncor’s 40% stake in the Equinor-operated offshore Rosebank oil and gas project, located some 130 km northwest of Shetland Islands
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