Petronor eyes African expansion
The Norwegian firm is looking for new opportunities on the continent
Oslo-listed independent Petronor is seeking to expand further in sub-Saharan Africa, CEO Knut Sovold tells Petroleum Economist. The firm a joint venture between Norway’s Norenergy and Abu Dhabi’s Petromal recently increased its stake in the Republic of Congo’s PNGF Sud field, operated by Anglo-French explorer Perenco, to 16.8pc from 10.5pc.
The move follows Petronor’s takeover of fellow indie African Petroleum in 2019. Now the firm is seeking to expand further, and is considering both more equity stakes in assets and possible mergers.
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Ex-Tullow CEO sees fresh African opportunities
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China poised for rapid LNG expansion
New and existing domestic players are investing in regasification infrastructure to help meet surging demand
China will commission an unprecedented amount of new LNG receiving capacity in the coming years amid fast-growing demand and the opening-up of the country’s gas market.
The official launch of state-owned PipeChina in September 2020 emboldened several smaller energy companies to enter the industry. As a result, some 28 projects with a combined capacity of 82.8mn t/yr are under construction, according to data compiled by Petroleum Economist.
Included in the growing list of new smaller players seizing on PipeChina’s reforms is China Urban Rural Energy (Cure), a subsidiary of state-run China Communications Construction Company Group. Cure signed cooperation agreements with Shandong Petroleum &