TTE News & Events

Namibia said it will not recognize TotalEnergies (TTE) and Petrobas' (PBR) purchase of offshore stakes in the Luderitz Basin until the companies follow the proper procedure to receive approval, Reuters reports, citing comments made by government officials. A spokesperson for the presidency further confirmed that "no transaction can be recognised or considered valid" until a formal application is submitted and prescribed statutory process.

TotalEnergies (TTE) has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments and Maravilla Oil & Gas. Upon completion of the transaction, TotalEnergies will be the operator of the license holding a 42.5% interest alongside Petrobras (PBR), Namcor and Eight.

The U.S. government is planning to issue a general license allowing companies to pump oil in Venezuela as part of a plan to ease sanctions and rebuild the nation's energy industry, Bloomberg's Patricia Garip, Eric Martin, Esteban Duarte, and Jennifer A Dlouhy report. The new license could be issued by the Treasury Department as soon as this week and follows a separate general license allowing companies to buy and sell Venezuelan oil. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).

TotalEnergies and Kuwait Oil Company signed a memorandum of understanding to strengthen their cooperation, exchange expertise, and conduct technical studies. The MoU notably includes studies related to new exploration opportunities in the country, for which TotalEnergies will mobilize its technical expertise. "We are pleased to strengthen our cooperation with Kuwait Oil Company through this MoU, which reflects our shared ambition to contribute to Kuwait's objectives in developing its resources," said Patrick Pouyanne, chairman and CEO of TotalEnergies. "The studies to be carried out will help inform future projects, while further deepening our long-term relationship with Kuwait."