Corporate Governance Report
PetroNor E&P (“PetroNor”) is listed on the Oslo Axess (“PNOR”). PetroNor’s Board of Directors are responsible for establishing the Corporate Governance Framework of the Company.
The Board of PetroNor is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of Corporate Governance commensurate with PetroNor’s needs. It also attempts to meet the extensive range of varying legal, regulatory and governance requirements applicable to publicly listed companies in Norway.
The Board supports the principles of effective Corporate Governance and is committed to adopting high standards of performance and accountability, commensurate with the size of the Company and its available resources. Accordingly, the Board has adopted Corporate Governance principles and practices designed to promote responsible management and conduct of the Company’s business.
The Company is pleased to make the following information on its Corporate Governance available to its Shareholders on its website. Our Corporate Governance Plan covers the following areas:
Corporate Code Of Conduct;
Audit and Risk Committee Charter;
Remuneration Committee Charter;
Nomination Committee Charter;
Risk Management; and
Guidelines for Buying and Selling Securities (Securities Trading Policy)
Further information on PetroNor E&P’s Corporate Governance Plan (PDF)
Corporate Governance Policy Statement
In accordance with Oslo Listing, the Corporate Governance statement included in the Company’s annual report discloses the extent to which the Company has followed the CGC Recommendations by detailing the Recommendations that have not been adopted by the Company and the reasons why they have not been adopted. The Corporate Governance practices disclosed by PetroNor (previously African Petroleum) in the Corporate Governance statement are in place throughout the reporting year.