KEYFACT Energy
Ineos is understood to be in exclusive talks to buy the North Sea oil and gas assets being sold by ConocoPhillips for $3bn (£2.3bn) according to a report in the Sunday Times.
Ineos is believed to have put down a deposit in return for three months exclusivity on the package.
The prospective sale comes amid efforts by Chevron Corp. to also exit the aging North Sea basin in its pursuit of higher returns elsewhere, such as from U.S. shale or liquefied natural gas ventures.
A ConocoPhillips spokeswoman said: “ConocoPhillips is marketing its UK assets after receiving an unsolicited offer."