Article length: 410 words
UAE: Al-Nahyan expand African oil interests with PetroNor takeover
PetroNor E&P, an African-focused oil company with strong ties to Abu Dhabi’s ruling Al-Nahyan family, is to reverse into Oslo Bors-listed African Petroleum Corporation (APC) in a deal which is due to be finalised by the end of April.Cyprus-registered PetroNor’s ownership is currently split equally between NOR Energy and Petromal. The latter is a subsidiary of Abu Dhabi’s National Holding (NH), a privately-held group with interests in real estate, telecoms, energy and other areas and which is partly owned by the Al-Nahyan.
Credit value: 4