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    Lundin set for another rebrand


Lundin's forthcoming takeover by Aker BP has prompted a name change to reflect its new focus on renewables.

by: Callum Cyrus

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Natural Gas & LNG News, Europe, Liquefied Natural Gas (LNG), Europe, Corporate, News By Country, Sweden

Lundin set for another rebrand

Sweden's Lundin Energy will rebrand once its acquisition by Norwegian E&P company Aker BP closes, to reflect its pivot towards renewable energy operations, the company said on May 16.

From July 1, Lundin Energy will be known as Orron Energy. It is the latest in a series of name changes. Lundin started as Lundin Oil but became Lundin Petroleum in 2001, before switching to its current name Lundin Energy in 2020.

The latest change is subject to approval by Lundin shareholders at its extraordinary general meeting on June 16.

Aker BP will close its $14bn cash and shares takeover of Lundin Energy on June 30. The merger will transfer Lundin Energy's existing hydrocarbon assets to Aker BP, increasing the latter's net oil and gas output to around 400,000 barrels of oil equivalent/day. That is almost double the 208,200 boe/d Aker BP reported for its first-quarter production.

Daniel Fitzgerald, the proposed CEO of Orron Energy, said: "The proposed name change to Orrön Energy marks the start of a new era for the Company, reflecting our renewable focus, our Nordic roots, and the entrepreneurial spirit of the Lundin Group of companies.

"I am excited about the future, as we are convinced that Orron Energy is uniquely positioned to create value for our shareholders through the energy transition.”