Total and Maersk Oil: a perfect match?
The multi-billion-dollar deal shows oil and gas M&A is back with a vengeance
An oil company committed to building economies of scale and acquiring assets at the bottom of the market is buying a division operating in similar areas from a company that wants out of the oil business. Total's acquisition of Maersk Oil from AP Moller-Maersk looks like an ideal fit. Total is buying the Danish firm's hydrocarbons unit in a $7.45bn deal, in which AP Moller-Maersk will receive $4.95bn in Total shares, while Total will take on $2.5bn of Maersk Oil debt. On top of the headline figures, down the line, Total will also be liable for Maersk's decommissioning obligations in the North Sea, which are around $3bn. Assuming the deal is approved, it is expected to close in the first quart
Also in this section
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
