TotalEnergies has completed the sale of its stake in several Nigerian oil licences to Chevron, marking another shift in ownership within the country’s energy sector. The deal is part of the company’s ongoing strategy to streamline its portfolio and focus on assets it considers more profitable globally. Industry observers say the move reflects a growing trend of international oil companies adjusting their positions in West Africa.

According to reports, Chevron purchased TotalEnergies’ share in the licences to strengthen its presence in Nigeria’s upstream operations. The company is expected to take full control of exploration and production activities in the affected assets. Analysts believe this acquisition could boost Chevron’s long-term output and improve operational stability in the region.

TotalEnergies explained that the sale aligns with its broader plan to reduce exposure to assets that require heavy maintenance or face operational risks. By reallocating resources, the company aims to invest more in cleaner energy and other high-value projects around the world. The French energy giant emphasised that it remains committed to Nigeria through other ongoing ventures.

Energy experts say the transaction could bring fresh investments and improved management to the oil blocks under Chevron. They also expect the deal to influence future partnerships within Nigeria’s energy industry. For now, stakeholders are watching to see how Chevron will handle the newly acquired licences and what impact the move will have on Nigeria’s oil production landscape.