Petronas pulls out of South Sudan

Uncertainty persists in South Sudan’s oil sector, potentially threatening the viability of the young nation itself

Malaysian NOC Petronas announced on 7 August that it will withdraw from its operations in South Sudan, stating “the decision was made following a two-year period of divestment initiatives” as part of the company’s “long-term investment strategy amid the changing industry environment and accelerated energy transition”. Petronas’ stated strategy prioritises Malaysian upstream developments and the “high grading” of its international portfolio. The Malaysian NOC’s local South Sudanese subsidiary “will continue to work with all relevant stakeholders to ensure an amicable transition", a statement said. Petronas’ announcement came as a surprise, as the Malaysian firm was not supposed to simply pull