TotalEnergies SE Withdraws from South African Blocks

TotalEnergies SE (FR:TTE) has released an update.

TotalEnergies SE has announced its withdrawal from offshore Block 11B/12B in South Africa, following its partner CNRI’s decision to exit and challenges in economically developing gas discoveries. Additionally, TotalEnergies is leaving Block 5/6/7, where it holds a 40% interest. The company, a major player in energy with a diverse portfolio, maintains a strong presence in South Africa through fuel marketing, renewables, and other energy services.

For further insights into FR:TTE stock, check out TipRanks’ Stock Analysis page.