Diligence

Namibia Rejects France’s Bid to Buy Shares in Its $1.6 Trillion Offshore Oil Reserves

Namibia has rejected a proposal involving France to acquire shares in its massive offshore oil discoveries, estimated at 11–20 billion barrels and valued at around $1.6 trillion.

The government, led by President Dr Netumbo Nandi-Ndaitwah, declined a partnership involving French energy giant TotalEnergies and Brazil’s Petrobras.

The move comes as France seeks to strengthen its declining influence in Africa.

A French business delegation recently visited Namibia to explore long-term offshore energy partnerships, but President Nandi-Ndaitwah insisted that any agreements must follow Namibia’s national procedures and serve the country’s sovereign interests.

i know its been a while since it came out but im preeetty sure this is exactly how CATWS ended