Saturday, February 12, 2011

Ethiopia May Take Over Petronas Assets in Ogaden, Reporter Says

The Ethiopian government may take over Petroliam Nasional Bhd.’s oil and gas holdings in the Ogaden region rather than approving a sale to SouthWest Energy (H.K.) Ltd., The Reporter said, citing an unidentified official at the Mines Ministry. Hong Kong-based SouthWest announced on Oct. 6 that it purchased the oil and gas fields in the arid region where rebels have been fighting the government for more than three decades. In April 2007, the Ogaden National Liberation Front attacked an exploration site operated by China’s Zhongyuan Petroleum Exploration Bureau, killing nine Chinese workers and 65 Ethiopians. Source ( Bloomberg)

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