TotalEnergies’ and ConocoPhillips’ purchase of US-firm Hess’ 8.16% stake in Libya’s 300,000 b/d Waha Oil Company has yet to complete, according to 4Q earning results from Hess.

The deal, thought to be worth around $300mn, would bump Total and Conoco’s stakes in Waha to 20.41% each alongside NOC’s 59.18%. But the transaction still remains entangled in Libya’s highly fractious political scene (MEES, 26 November 2021). (CONTINUED - 217 WORDS)