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Article: UNOCAL PUTS ITS EXPLORATION AND PRODUCTION HOLDINGS IN THE NETHERLANDS UP FOR SALE
- Article from:
- Hart's Petroleum Finance Week
- Article date:
- April 15, 1996
CopyrightCopyright Phillips Business Information Corporation Apr 15, 1996. Provided by ProQuest LLC. (Hide copyright information)
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Unocal Corp. has put all of its upstream assets in The Netherlands up for sale. Details of the offer are being worked out, but Petroleum Finance Week has learned that all of the Los Angeles- based company's Dutch E&P assets will be sold. Several competitors already are showing interest. Buyers could come from three groups: existing operators wishing to reduce per unit costs by consolidating Unocal assets, established companies in The Netherlands that presently are not operating and newcomers to the region that wish to expand.
"Unocal sold out of Norway in 1990 and most of its U.K. interests in 1993. This is the third country in the North Sea that it is exiting," says a source at ...