Chevron and TotalEnergies Compete in Bidding for Galp's Namibia Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2025
0mins
Source: NASDAQ.COM
Chevron and TotalEnergies Lead Bidding: Chevron Corporation and TotalEnergies SE are the frontrunners to acquire a 40% operating stake in Galp Energia's Mopane complex, with an announcement expected by year-end.
Significance of the Mopane Discovery: The Mopane field, with an estimated 10 billion barrels of recoverable resources, is a major new oil find in Namibia, attracting intense competition among global oil companies.
Strategic Importance for Companies: Both Chevron and TotalEnergies have strong incentives to secure the Mopane stake, with Chevron looking to enhance its exploration portfolio and TotalEnergies aiming to leverage synergies with its nearby Venus project.
Impact on Namibia's Oil Landscape: The outcome of this bidding contest will significantly influence Namibia's emergence as a key player in the global oil market, shaping the pace and structure of its hydrocarbon production.
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Analyst Views on CVX
Wall Street analysts forecast CVX stock price to fall
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 197.410
Low
158.00
Averages
176.95
High
206.00
Current: 197.410
Low
158.00
Averages
176.95
High
206.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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