Market Chatter: TotalEnergies, Namibia Still Negotiating Venus Oil Project Terms

MT newswire2026/10/14 09:25

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05:25 AM EDT, 10/14/2026 (MT Newswires) -- TotalEnergies (TTE) and Namibia are yet to agree on terms for developing the Venus offshore oil discovery, putting pressure on the company's target of making a final investment decision by 2026-end, Bloomberg News reported Wednesday. Namibian officials confirmed that negotiations remain underway, but declined to say whether an agreement would be reached this year, according to the report. The project is expected to produce about 160,000 barrels of oil per day, Bloomberg reported, adding that first production was originally targeted by 2030. TotalEnergies didn't immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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