Business Hilights
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Total plans to deepen industry stake, to buy Maersk Oil for $7.45bn

As part of its global industry consolidation plan, French oil giant Total said on Monday, that it would buy Maersk Oil, a unit of the Danish shipping giant A.P. Moller-Maersk, for $7.45 billion.

Details from the company show that the buy over would make Total the second-largest operator in the North Sea, with substantial operations in Britain, Norway and Denmark.

Business Hilights recalls that only recently, Maersk Shipping was hit by cyber attack which frustrated its global operations causing some levels of delays in operations which translated to surge in demurrage in some maritime nations like Nigeria.