Picture: PA
NEPTUNE Energy has pulled out of a deal worth up to $280 million (£230m) to buy a big North Sea portfolio following the oil price plunge triggered by the coronavirus.
The oil and gas firm said it had agreed to terminate the agreement it reached in October to buy the North Sea assets amassed by Italy’s Edison.
Neptune had agreed to buy the portfolio from Energean. It will pay Energean a $5m termination fee.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
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We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
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