EnergyWatch

Orrön Energy, formerly Lundin, ushers in new era, scores profit

A deferred tax asset saves Orrön Energy from booking a deficit in H1. However, the company is optimistic about the future following the divestment of oil assets worth USD 13bn.

Photo: PR Orrön Energy

Swedish oil company Orrön energy is undergoing a metamorphosis, like a caterpillar transforming into a butterfly.

Lundin has inked a deal with Aker BP, transferring oil and gas assets to the Norwegian company, while the Swedish company instead aims to focus on renewables, resulting in a name change from Lundin to Orrön Energy.

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