Aker BP and Lundin defend their marriage
The Norway-focused producers are sticking to their guns in the face of critical analysis
“The proposed combination of Aker BP and Lundin Energy's E&P business… is a tremendous deal to combine these two great companies, drawing on the best of both to make something even bigger and better. It creates a Norwegian pure-play E&P company of scale, production growth, low costs and low carbon emissions that I think is set to prosper through the energy transition.” So says Nick Walker, Lundin’s CEO. But it is fair to say that not everyone is convinced by the combination of the two Norwegian continental shelf (NCS) independents to create a 400,000bl/d oe producer. The tone of questioning during Aker BP’s Q4 results call was combative. “Given Aker BP managed to achieve a resource r
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields