KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has announced it is withdrawing from its operations in South Sudan.
According to its website, the national oil company has been operating in South Sudan via its subsidiary PETRONAS Carigali Nile Ltd (PCNL) since 2011.
“The decision was made following a two-year period of divestment initiatives in alignment with PETRONAS’ long-term investment strategy amid the changing industry environment and accelerated energy transition” it said in a statement.
PETRONAS said that PCNL will continue to work with all relevant stakeholders to ensure an amicable transition while being mindful of its employees’ rights in accordance with applicable laws, petroleum agreements and PETRONAS’ policies and procedures. —Bernama
