By Nikolaj Skydsgaard

COPENHAGEN, Oct 26 (Reuters)– DONG Energy might drop its oil as well as gas service, honing its concentrate on wind power as well as possibly unlocking to a take care of Danish peer A.P. Moller-Maersk, which is additionally looking for a brand-new residence for its power possessions.

DONG Energy has actually transferred to the center of global overseas wind ranch growth, which service became its largest factor to earnings in the very first fifty percent of this year.

Joining a listing of companies that, struck by a two-year depression in oil rates as a result of surplus, have actually taken a look at marketing oil as well as gas possessions to elevate funds, DONG Energy claimed on Wednesday the procedures were no more of lasting calculated significance.

“(We are) reviewing strategic options regarding the future of the oil and gas business,” it claimed in a declaration, including it had actually worked with JP Morgan to carry out a market evaluation of the possessions, which Sydbank expert Morten Imsgard claimed can be worth approximately 14 billion Danish crowns ($ 2.05 billion).

If DONG Energy determined to offer, it would straight take on billions of bucks of oil as well as gas possessions currently up for grabs, lots of in the North Sea where expenses are reasonably high as a result of the container’s maturation.

In September, Maersk, which runs the globe’s largest container delivery line, claimed it was looking for partnerships or a different listing for its power procedures while expanding its transportation service.

Maersk held talks in 2015 on perhaps acquiring acquire DONG Energy’s oil as well as gas service however the firms fell short to settle on a rate, resources informed Bloomberg last month.

Asked if Maersk had an interest in acquiring the company’s oil as well as gas possessions, a spokesperson claimed the firm did not discuss supposition, including: “We consider suitable options for growth on a case-by-case basis.”

Sydbank’s Imsgard claimed he would certainly not rule it out.

“It’s an open question, what Maersk oil’s strategy is, whether it is to buy itself bigger before floating or merging with an even bigger company,” he claimed.

“It hasn’t become less likely, that Maersk could acquire the division.”

DONG Energy, which additionally claimed its monetary overview for 2016 was the same, was drifted on the Danish securities market in June in Europe’s largest listing thus far in 2016, elevating 17 billion crowns ($ 2.6 billion).

Its wind ranch service produced 42 percent of its revenues prior to passion, tax obligation, devaluation as well as amortisation (EBITDA) in the very first fifty percent of 2016, surpassing oil as well as gas.

Since its flotation protection, DONG Energy’s share cost has actually risen and fall in between 260 as well as 280 Danish crowns.

At 0735 GMT it was trading down 0.4 percent at 267.50 crowns while Maersk was up 0.3 percent at 10,280.

($ 1 = 6.8152 Danish crowns) (Additional coverage by Karolin Schaps; Writing by John Stonestreet; Editing by Alexander Smith)

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