March 27, 2025 [Reuters]- Spanish oil company Repsol and private equity-backed NEO Energy have agreed to merge their UK North Sea oil and gas businesses to create a joint venture with output of around 130,000 barrels of oil equivalent per day this year.
The new company, called NEO NEXT, will be 45%-owned by Repsol and 55%-owned by NEO Energy. It is aiming for financial benefits from the merger of more than $1 billion, improving cash generation and shareholder returns, Repsol said on Thursday.
Free Trial: Access 13,300 Tank Terminal and Production Facilities
13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data
