Repsol Discusses Merging UK North Sea Business With NEO Energy

Repsol has been in discussions to merge its UK North Sea operations with NEO Energy in what could be another consolidation offshore the UK, where operators struggle with a high windfall tax. The Spanish energy major has been holding extensive talks with private equity-backed NEO Energy and could announce a deal in the coming weeks, anonymous industry sources told Reuters on Friday. If Repsol and NEO reach a deal, they would create one of the largest producers in the UK North Sea with production exceeding 110,000 barrels of oil equivalent…