Namibia Refuses to Recognize TotalEnergies Oil Acquisition

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 had therefore failed to secure the formal approval of the government for the acquisition. “The government makes it clear that in accordance with the law,…