Total and Maersk Oil: a perfect match?
The multi-billion-dollar deal shows oil and gas M&A is back with a vengeance
An oil company committed to building economies of scale and acquiring assets at the bottom of the market is buying a division operating in similar areas from a company that wants out of the oil business. Total's acquisition of Maersk Oil from AP Moller-Maersk looks like an ideal fit. Total is buying the Danish firm's hydrocarbons unit in a $7.45bn deal, in which AP Moller-Maersk will receive $4.95bn in Total shares, while Total will take on $2.5bn of Maersk Oil debt. On top of the headline figures, down the line, Total will also be liable for Maersk's decommissioning obligations in the North Sea, which are around $3bn. Assuming the deal is approved, it is expected to close in the first quart
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
