Petroleum Africa
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Wednesday, August 24, 2022
According to reporting, Petronas, the Malaysian state oil company, is looking to sell of its African upstream assets. Petronas has holding in Chad, Egypt, Gabon, Gambia, Senegal and South Sudan, the latter being held since before The Sudan’s civil war.
According to a Bloomberg report, Petroliam Nasional Bhd. (Petronas) has started inviting bids for its upstream assets in Africa, which could be valued at as much as $3 billion.
Bloomberg reports that individuals familiar with the matter state that Petronas is “working with an adviser to gauge interest in the portfolio” and the “assets are likely to attract other international energy companies or financial investors and could be sold piecemeal to different buyers.”
The company said in an emailed statement that it “regularly and proactively” reviews its entire portfolio to ensure it remains resilient amid the evolving energy landscape.
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