Namibia Oil Rush Intensifies as TotalEnergies Leads Bid for Galp Stake

TotalEnergies has emerged as the favorite to buy into a major oil discovery offshore Namibia and become a partner of Portugal’s Galp in its development, Bloomberg reported on Tuesday, citing anonymous sources with knowledge of the matter. Galp, which announced the Mopane oil discovery in 2024, plans to sell a 40% stake in the field and find a partner by the end of the year. Chevron was also said to be in the race for buying a minority stake in the Mopane field. But TotalEnergies appears to be in pole position, at least according…