TotalEnergies – Oil & Gas 360

U.S. deal ends TotalEnergies offshore wind plans, accelerates LNG investment

March 24, 2026

(World Oil) – TotalEnergies has agreed to relinquish its U.S. offshore wind leases under a settlement with the Department of the Interior, redirecting capital toward LNG, gas production and export infrastructure. The company will exit the Carolina Long Bay and New York Bight leases, both awarded in 2022, effectively ending its offshore wind development plans in the United States. Under the agreement,

Middle East war revives interest in Alaska LNG

March 16, 2026

(Oil Price) – Interest in the Alaska LNG export project has spiked since the war in the Middle East choked 20% of global LNG supply and sent Asian buyers scrambling for expensive spot cargoes. Glenfarne Group, the majority owner and developer of the Alaska LNG Project, aims to sign soon binding offtake agreements with buyers and advance final investment decisions to

TotalEnergies launches Lapa South-West project offshore Brazil

March 11, 2026

(World Oil) – TotalEnergies has started production from the Lapa South-West project in Brazil’s Santos basin, about 300 km (186 miles) offshore, adding new output to the company’s existing Lapa field operations. The development consists of three wells tied back to the Lapa floating production, storage and offloading (FPSO) unit and is expected to increase production from the field by

Namibia refuses to recognize TotalEnergies oil acquisition

February 9, 2026

(Oil Price) – The Namibian government will not recognize an asset acquisition deal involving TotalEnergies and Petrobras because they did not follow procedure. In a statement on Sunday, the country’s Ministry of Industries, Mines and Energy said, as quoted by Reuters, that TotalEnergies and Petrobras had not notified it of their intentions to acquire a 42.5% each in the PEL104 offshore license and

TotalEnergies pushes deeper into Namibia’s offshore oil boom

February 6, 2026

(Oil Price) – TotalEnergies is expanding its exploration portfolio offshore Namibia with acreage north of a block where a major oil discovery has been made, as the supermajor looks to boost activity in the new global exploration hotspot. TotalEnergies on Friday announced it had signed agreements to buy a 42.5% operated interest in the PEL104 exploration license offshore Namibia from Eight Offshore Investments

Five energy market trends to track in 2026, the year of the glut: Bousso

December 29, 2025

(BOE Report)– Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified targeting of

TotalEnergies divests 10% stake in Malaysia’s SK408 gas block to PTTEP

December 16, 2025

(World Oil)– TotalEnergies has completed the sale of an indirect 9.998% interest in Malaysia’s SK408 offshore gas block to PTTEP, strengthening the companies’ long-standing partnership while allowing TotalEnergies to optimize its upstream portfolio in the country. Following the transaction, TotalEnergies retains a 30.002% working interest in SK408 and remains operator of the block, which is considered a key contributor to Malaysia’s domestic

North Sea shakeup: TotalEnergies, NEO NEXT merge to form UK’s largest independent operator

December 8, 2025

(World Oil) – TotalEnergies has signed an agreement to merge its UK Upstream business with NEO NEXT, forming a newly expanded company—NEO NEXT+—that will become the largest independent oil and gas producer in the United Kingdom. The deal positions TotalEnergies as the new entity’s leading shareholder with a 47.5% ownership stake. Following completion—expected in the first half of 2026 pending regulatory

TotalEnergies partners with Japanese giants for U.S. synthetic gas project

December 2, 2025

(Oil Price)– TotalEnergies is partnering with several Japanese firms to develop the Live Oak project in Nebraska—a facility to produce electric natural gas (e-NG), synthetic gas produced from renewable hydrogen and CO2, the French supermajor said on Tuesday. TotalEnergies has signed a Joint Development and Operating Agreement that grants Japanese energy firms Osaka Gas, Toho Gas, and ITOCHU a combined 33%

Chevron takes 40% stake in TotalEnergies’ offshore Nigeria blocks

December 1, 2025

(World Oil) – TotalEnergies has strengthened its global exploration ties with Chevron following a new farmout agreement covering two offshore licenses in Nigeria’s West Delta basin. The company announced that its Nigerian subsidiary, TotalEnergies EP Nigeria, has agreed to transfer a 40% interest in exploration licenses PPL 2000 and PPL 2001 to Star Deep Water Petroleum Limited, a Chevron company. TotalEnergies will remain operator

Exxon lifts force majeure on Rovuma LNG, clearing path for major Mozambique gas development

November 20, 2025

(World Oil)– ExxonMobil lifted a force majeure on its Rovuma liquefied natural gas project in Mozambique as security concerns subside, a key step toward sanctioning the development and committing construction funds. The force majeure was put in place after Islamic State-affiliated militants carried out an attack near its operations in northeastern Mozambique in 2021. Ending the force majeure will allow

Controversial $5 billion EACOP project is now three-quarters complete

November 20, 2025

(Oil Price)– The $5-billion East African Crude Oil Pipeline (EACOP), which is planned to export crude oil from Uganda via a port in Tanzania, is now 75% complete, moving landlocked Uganda a step closer to becoming an oil exporter. EACOP, a controversial pipeline project that has seen a lot of environmental opposition and planning and construction delays, is now about

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