Singapore giant BW Group is splitting off oil exploration and production company BW Energy from its shipping businesses.
BW Group owns 74.38% of the Oslo-listed operation after a mandatory offer saw it buy shares from its floating production storage and offloading affiliate, BW Offshore, earlier this year.
“As part of a corporate restructuring, BW Group is planning to separate BW Energy, as an oil and gas exploration business, from the maritime businesses held by BW Group,” the company said in a filing.
