TotalEnergies completes $800 million sale of stake in Nigeria's Renaissance JV
TotalEnergies has finished selling its 10% non-operated interest in Renaissance JV licenses to Vaaris for $800 million, keeping its gas licenses.
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what happened
TotalEnergies said its Nigerian unit, TotalEnergies EP Nigeria, has completed the sale of its 10% non-operated stake in the Renaissance JV licenses to Vaaris. The aggregate consideration is US$800 million.
According to TradingView, TotalEnergies keeps its full economic interest in three gas licenses, OML 23, OML 28 and OML 77. These licenses currently supply 50% of Nigeria LNG's gas.
In 2025, TotalEnergies' Nigerian operations produced 188,000 boe/d.
why it matters
The deal covers a minority stake in oil licenses, while the core gas assets feeding Nigeria LNG stay with TotalEnergies, so the effect on global gas and oil supply looks limited. For investors it signals portfolio reshuffling in Nigeria rather than a cut in output.
market impact
Oil and LNG: the stake sale barely changes supply, so pressure on prices is minimal
tags
instruments
sources
- Totalenergies Completes Divestment Of Its Oil Interest In Renaissance JV In Nigeria — Reuters, 27 October 2026 at 07:32 UTC
- Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC) — TradingView, 27 October 2026 at 07:36 UTC
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