Divestment

SFL Corporation is selling two Suezmax tankers to a Koch Industries subsidiary for approximately $57 million each. Net proceeds are expected to be around $26 million per vessel after debt and fees. SFL will also terminate charters for two newer Suezmax tankers with Koch, receiving a fee. The company plans to reinvest proceeds into younger, more efficient vessels to capitalize on strong charter market rates.

TotalEnergies has sold a 12.5% stake in Nigeria’s OML 118 to Shell Nigeria and Nigerian Agip Exploration for $510 million. The deal involves the Bonga oil field and aligns with TotalEnergies’ strategy to optimize its portfolio and focus on high-return ventures. Analysts suggest this move signals a broader trend of international oil companies reassessing investments in mature African oil fields due to concerns over security, regulation, and the energy transition. TotalEnergies remains a significant player in Nigeria despite the divestment.