The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revoked approval for TotalEnergies’ sale of a minority stake in a Nigerian onshore oil producer, impacting the company’s debt reduction strategy. The deal involved selling a 10% stake in a joint venture to Chappal Energies, which failed to meet financial commitments, leading to the withdrawal of consent. TotalEnergies had earlier agreed to sell a 12.5% interest in the OML 118 production sharing contract to Shell Nigeria for $510m.

Read more at Yahoo Finance: Nigerian regulator withdraws TotalEnergies’ asset sale approval