bp: replaced by Eni as shareholder of In Salah Gas Ltd

(CercleFinance.com) - The European Commission has announced that it has authorised the creation of a joint venture between Sonatrach, Eni and Equinor, established in 1996.


As a result of the transaction approved today by the EU, Eni will replace bp as the joint majority shareholder.

In Salah Gas Limited is active in the exploration, development, production and supply of natural gas while Eni, Sonatrach and Equinor are active in the development, production and upstream wholesale supply of natural gas.

The Commission concluded that the proposed acquisition would not give rise to any competition concerns, given their diverging interests.

bp shares are currently up about 1.5%, while Eni shares have risen by about half that.


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