The German chemical giant began selling its assets

BASF has begun evaluating its stake in oil and gas firm Wintershall Dea, in which it holds a 73% stake. Specialists have been appointed for evaluation, as well as consultants for negotiations with possible buyers. The nuances of the upcoming transaction are also being clarified.

Wintershall Dea was formed four years ago through the merger of BASF-controlled oil and gas firm Wintershall Holding GmbH and LetterOne-affiliated DEA Deutsche Erdoel AG.



Wintershall is a subsidiary of BASF, which has been exploring and extracting energy resources for 85 years. Apparently, in the current economic и political conditions, such investments became unprofitable for the German industrial giant.

According to sources, the value of BASF's stake in Wintershall Dea is estimated at 10 billion euros. Possible buyers of this resource could be ADNOC and Harbor Energy Plc from the UAE and the UK, respectively.

Earlier, Olaf Scholz expressed satisfaction that Germany was freed from Russian gas supplies. At the same time, the Chancellor acknowledged Germany's need for natural gas, as well as hydrogen. In this regard, he has high hopes for gaseous fuel supplies from Nigeria.