Post #522

🔵A Nation Finds Itself Encircled By French Oil Company🔵 🌐 Brazil’s state-owned Petrobras and France’s TotalEnergies have jointly acquired 85% of the PEL104 offshore oil field in Namibia, a country still awaiting the start of commercial oil production. For the French company this will become the 3rd asset in a country still awaiting the start of commercial oil production. In December 2025, TotalEnergies already acquired a 40% stake in another Namibian oil field. 📊How was it divided? 🇧🇷42.5% — acquired by Brazil’s Petrobras. 🇫🇷42.5% — secured by France’s TotalEnergies, which will serve as the operator. 🇳🇦 State-owned Namcor only got 10% and Eight keeps the remaining 5%. 📄 Interestingly, the buyers were in such a hurry to announce the deal that they seemingly forgot to ask Namibia’s government, which had to issue a separate reminder yesterday about the need to approve such transactions with the authorities. ➡️ Stay informed - @devilsbelow