TotalEnergies’ $7.4 billion offshore project faces legal delays, highlighting rising environmental and regulatory risks for international majors. Chevron and Kosmos Energy divested a combined $405 million in African assets, accelerating the transfer of mature fields to independent operators. The Western Cape High Court in South Africa recently concluded hearings on TotalEnergies’ $7.4 billion offshore drilling permits in the Deep Western Orange Basin, with a ruling expected to determine whether the project can proceed, or face further delays. In Nigeria, the Renaissance consortium – comprising local firms such as Aradel and First E&P – has taken control of key onshore assets. The African Energy Bank (AEB), headquartered in Abuja, is designed to address the funding gap left by Western institutions retreating from fossil fuel investments.

Source: The North Africa Journal April 06, 2026 13:38 UTC