TotalEnergies and BlackRock Sign $1.8B Deal for African Oil and Gas Assets
TotalEnergies and BlackRock Sign $1.8B Deal for African Oil and Gas Assets What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… TotalEnergies and BlackRock’s Global Infrastructure Partners (GIP) have signed a partnership agreement under which GIP will invest $1.8 billion in capital contribution toward some of the French supermajor’s oil and gas infrastructure assets in Africa.
In exchange for the $1.8 billion capital contribution, TotalEnergies will pay GIP a tariff over a period of up to 15 years, based on the assets’ throughput, the French energy giantsaidon Friday.
TotalEnergies did not specify which of its oil and gas infrastructure assets would be part of the partnership agreement.
“We are pleased to strengthen our relationship with GIP through this infrastructure agreement which crystallizes the value of some of our midstream infrastructure assets in Africa,” commented Jean-Pierre Sbraire, chief financial officer of TotalEnergies.
TotalEnergies has recently ramped up its business in Africa’s oil and gas sector, with investments in Angola, Namibia, and Uganda.
Earlier this month, TotalEnergies said it had made anew discovery offshoreAngola and bought operated interest in two new exploration blocks close to operating hubs as the international majors are returning to exploration in Angola’s waters to take advantage of existing infrastructure.
The Acacia-5 discovery in Block 17 would see first oil achieved just three months after the discovery was made in June 2026, the company said.
TotalEnergies has alsoexpandedits 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.
Last year, TotalEnergiessigned an agreementwith Galp that formalizes its operatorship over Namibia’s two largest offshore oil discoveries, Mopane and Venus, through a strategic asset swap that consolidates development control in the hands of the French major.
In Uganda, TotalEnergies and China’s CNOOC have been developing the Tilenga and Kingfisher oil fields, which will make the landlocked African country theworld’s newest crude oil exporterin early 2027, via the $5 billion East African Crude Oil Pipeline (EACOP), which will transport crude from Uganda to Tanzania’s port of Tanga.
INEOS Opens EU's First Full-Scale Carbon Storage Site in Denmark INEOS Opens EU's First Full-Scale Carbon Storage Site in Denmark What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… Bessent Says Strait of Hormuz Obsolete Within Two Years White House Weighs Defense Production Act as U.S.
Refineries Maxed Out Saudi Arabia Discovers 110 Million Tonnes of Uranium-Bearing Ore Satellite Images Show Seven Tankers Loading Iraqi Crude at Once Qatar an.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment