economy
February 11, 2026
African state disputes French oil giant’s offshore deal
Namibia’s Energy Ministry has accused TotalEnergies of announcing a 42.5% offshore stake deal without prior approval
TL;DR
- Namibia claims TotalEnergies and Petrobras failed to secure government approval for an offshore deal.
- The Energy Ministry emphasized that prior ministerial approval is legally required for any transfer of participating interests in Namibian petroleum licenses.
- TotalEnergies stated the deal's completion is contingent on Namibian authorities' approval and that the company respects operational laws.
- Namibia has become a significant new oil and gas frontier with recent discoveries in the Orange Basin.
- The French oil company has faced previous controversies regarding projects and divestments in Africa, including issues in Nigeria and East Africa.
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