Equinor Agrees to Buy Suncor Energy UK for $850 Million
- Deal gives company stakes in the Buzzard and Rosebank fields
- Equinor adds assets as Europe works to replace Russian supply
Norway’s Equinor ASA agreed to buy Suncor Energy UK Ltd. for $850 million, adding to its oil and gas production in the North Sea as Europe races to replace Russian supplies.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Norway’s Equinor ASA agreed to buy Suncor Energy UK Ltd. for $850 million, adding to its oil and gas production in the North Sea as Europe races to replace Russian supplies.
Since Moscow’s invasion of Ukraine a year ago, Equinor’s importance to Europe has never been greater as the region seeks alternative sources of energy. The firm is now using its vast profit from last year — a result of flat-out production and soaring gas prices — to boost capacity as well as reward shareholders.