Shell and Equinor to Merge Their UK Oil and Gas Assets ...Middle East

Shell and Equinor will merge their oil and gas assets in Britain in a 50/50 joint venture which will be the largest independent oil and gas producer in the UK North Sea, the oil majors said on Thursday. The companies have agreed that Equinor UK Ltd and Shell U.K. Limited are to combine their UK offshore oil and gas assets and expertise to form an incorporated joint venture (IJV), to “sustain domestic oil and gas production and security of energy supply in the UK,” two of Europe’s biggest oil companies said in a joint statement.…

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