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Stock impact report

TotalEnergies to Exit 10% Stake in Nigeria's Renaissance JV in Asset Sale [Yahoo! Finance]

TotalEnergies SE Ordinary Shares (TTE) 
Company Research Source: Yahoo! Finance
Under the agreement , TotalEnergies EP Nigeria will transfer its 10% participating interest in 15 oil-producing licenses to Vaaris, along with the associated rights and obligations. These assets delivered around 16,000 barrels of oil equivalent per day on a net basis to TotalEnergies in 2025, according to the company. The transaction also includes the transfer of TotalEnergies' 10% participating interest in three gas-producing licenses - OML 23, OML 28, and OML 77 - although TotalEnergies will retain full economic exposure to these gas assets. The three licenses are strategically significant, as they currently account for roughly half of the gas supply feeding Nigeria LNG, one of the country's most important export projects. The Renaissance JV, previously known as the Shell Petroleum Development Company (SPDC) joint venture, operates across 18 licenses in the Niger Delta. The unincorporated venture is owned by Nigerian National Petroleum Corporation Ltd (55%), Renaissance Africa Show less Read more
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