Japanese Energy Firm Inpex to Exit Africa, South America: Nikkei

Inpex Corp., Japan’s largest oil and gas explorer, will withdraw from resource development in Africa and South America to focus its investment on more profitable regions including the Middle East, the Nikkei reported.

The Tokyo-based company will divest its oil and gas exploration rights in Brazil by the end of 2023, the newspaper said, citing Kenji Kawano, a senior executive vice president at Inpex. The company also intends to sell its stake in an Algerian gas developer to the African nation’s government as early as this year, according to the report.

“We are not going to work on ...