Dong appoints J.P. Morgan to explore sale of oil and gas business

Dong appoints J.P. Morgan to explore sale of oil and gas business

Denmark’s Dong Energy has confirmed the appointment of J.P. Morgan as it reviews options regarding the future of its oil & gas business.

J.P. Morgan has been asked to conduct a preliminary market assessment about a possible divestment, although Dong stresses a decision has not been made as yet.

Speculation first started mounting about the sale when Dong revealed as part of its upcoming IPO that it wanted to build in the areas of offshore wind, bioenergy and green distribution and customer solutions.

In July, Dong divested its ownership share in five producing Norwegian oil and gas fields to Faroe Petroleum.

 

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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