Namibia's energy ministry blasts TotalEnergies, Petrobras for not following procedure [Yahoo! Finance Canada]
TotalEnergies SE Ordinary Shares (TTE)
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Source: Yahoo! Finance Canada
French oil major TotalEnergies ?and Brazil's Petrobras said on Friday they had each acquired a 42.5% stake in an exploration licence offshore Namibia, as ?both firms look to develop oil in one of the world's last exploration frontiers. The acquisition of the stakes in the PEL104 licence was from Maravilla Oil and Gas and Eight Offshore Investments Holdings. The two majors have had partnerships in oil assets in Brazil for more than a decade. The ?latest acquisition marks an expansion ?of Total's holdings in the southern African country, where it hopes to be the first to produce oil by the end of the decade. MINISTRY CALLS ?FOR PRIOR APPROVAL In Sunday's statement, the Ministry of Industries, Mines and Energy said it was not notified of the developments, as required by law, and was told about the planned announcement of the deal "a few ?minutes" before its release. "The government makes it clear that in accordance with the law, any ?transfer, assignment, or acquisition of par
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TTE
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TTE
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- 2/2/26 - Form 6-K
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- 1/7/26 - Form FWP
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