Maersk says acquisitions better than exploration for oil unit
By: Reuters | Nov 06 2015 at 04:16 AM | Liner Shipping
COPENHAGEN - A.P. Moller-Maersk is “definitely” looking for acquisitions in the oil sector for its oil unit and considers this a better way of growing than investing in exploration, Chief Executive Nils Smedegaard Andersen said on Friday.
“There are interesting things out there to buy. In our view, it is a more favourable way to grow than investments in exploration. We’re definitely still looking for acquisition opportunities,” he said, referring to the oil sector.