TotalEnergies Divests $510 Million Stake in Bonga Field to Shell
TotalEnergies Divests Stake in Nigeria’s Bonga Oil Field: Implications for the Industry
On a notable Thursday, French energy powerhouse TotalEnergies made headlines by announcing its decision to sell a 12.5% non-operating stake in Nigeria’s Bonga oil field. The buyer of this stake is none other than a subsidiary of Shell, with the transaction valued at an impressive $510 million. Such a substantial move is indicative of broader trends in the energy sector, where strategic shifts are not just common—they’re essential for…