Petro Royale, Lourenne's only major Oil and Gas company birthed from cooperation with KalNaPeCo, has announced that it is entering a large multi-billion dollar venture with LuthorianOil in the South Ocean oil fields in a move to provide energy security to Artania and Majatra. The two companies will create a joint merger called "SouthernOil". Thanks to intelligence and reports of oil fields in the South Ocean, and a desperate need for Luthori, the countries decided to use Kalistani-Lourennais expertise in oil drilling to begin operations in the South Ocean. SouthernOil will begin to drill and refine oil within the next few years, easing the pressure for Artania and Majatra's energy insecurities. According to full details of the merger, Luthori will hold 80% of all drilling and refining rights, while Lourenne through PETRO will hold 20%. Logistics , oil rig construction and ownership will be kept with Lourenne while Luthori will have access to oil production and exportation. SouthernOil will have headquarters in Fort William, Luthori and Parmentier, Lourenne. Josef Penault IV, PETRO's longtime CEO, stated that his company is "looking to provide security and cooperation when no other entity can". He stated that the company will eventually fall solely into Luthorian ownership once stable production is achieved. Beiteynu is said to be involved in exportation and logistics as well due to their history with Neftkompf. Beyond Luthorian affairs, PETRO will also provide Vascanian refineries and their companies will expertise and logistics to begin ramping up oil production. Recently Vascanian agencies reported that refineries are taking huge financial hits due to years of mismanage. With the rise of new leadership and logisitcs from PETRO, Vascania is set to begin oil production any time soon. Pinault IV stated: "If countries can continue operating 1000 year old satellites without concern, restarting Vascanian oil production should be a piece of black forest cake." ____________________________________________________________________________________________________________________