Energy · Paris, France · October 28, 2026

TotalEnergies buys 25% stake in 26 Chevron offshore leases

Reported by 2 outlets · first reported Oct 28, 4:05 AM ET · from an earlier edition that day

TotalEnergies of France bought a 25% operating stake in 26 US offshore leases run by Chevron. The deal expands its US exploration portfolio. UBS and Deutsche Bank also reported profit gains.

Why it matters

Companies are investing in new oil supply as prices stay high.

Background

Offshore leases give companies rights to explore for oil and gas.

Sources

• Asharq Al-Awsat ↗Oct 28, 4:05 AM ET

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