TotalEnergies Divests $510 Million Bonga Stake to Shell in Nigeria
TotalEnergies Divests Non-Operating Stake in Bonga Oil Field
In a strategic move that reverberates through the oil industry, French energy powerhouse TotalEnergies formally announced on Thursday its decision to sell its 12.5% non-operating stake in Nigeria's renowned Bonga oil field. The deal, valued at $510 million, sees this asset transition to a Shell subsidiary—illustrating yet another significant chapter in the evolving story of energy production in Nigeria.
This divestment, executed through TotalEnergies…