TotalEnergies

TTE

Market cap $143B

French major TotalEnergies has signed an agreement to sell its 10% non-operated stake in the Nigerian onshore oil asset SPDC, renamed as Renaissance JV, to Vaaris, it said on Wednesday, after a failed sale last year to Mauritius-based Chappal Energies.

PARIS & MANAMA, Bahrain--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Bapco Energies are launching BxT Trading, an equally owned trading joint venture backed by flows from Bapco Energies' Refinery. The signing ceremony was witnessed yesterday by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, and Patrick Pouyanné, Chairman and Chief Executive Officer.

PARIS--(BUSINESS WIRE)--TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement (SPA) with Vaaris for the sale of its 10% non-operated interest in the Renaissance JV licenses in Nigeria. The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Corporation Ltd (55%), Renaissance Africa Energy Company Ltd (30%, operator), TotalEnergies EP Nigeria (10%) and Agip Energy and Natural.

French oil major TotalEnergies has formed a 50-50 joint venture with Bahrain's Bapco Energies called BxT Trading, it said on Wednesday.

Oil prices fell well below $60 per barrel recently before rallying back above that key level this week, initially driven lower by oversupply and weak demand.

French oil major TotalEnergies would consider returning to Venezuela but it is not a priority, its chief executive said on Tuesday.

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French oil major TotalEnergies has obtained government permission for a new exploration permit offshore Lebanon, it said on Friday.

A full-scale resumption of Venezuelan oil exports would benefit refiners in the United States and lower their fuel production costs, with the refineries capable of absorbing most of the roughly 1 million barrels per day of crude that would trade freely if U.S. sanctions on the South American country are removed.

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