The Telegraph: Ed Davey Orders Russians to Sell North Sea Petroleum Licences
The Government has ordered a group of Russian billionaire investors led by Mikhail Fridman to sell North Sea petroleum licences amid concerns over the UK’s energy security.
LetterOne – an investment vehicle controlled by Mr Fridman – acquired the licences earlier this year as part of a €5bn (£3.6bn) deal to buy RWE Dea.
On Monday, energy secretary Ed Davey informed LetterOne that “he proposes to revoke Dea UK’s North Sea petroleum licences unless LetterOne arranges for a further change of control of the Dea UK gas fields in the North Sea".
Read the full article HERE.