Petrobras

Also known as: Brazilian oil company Petrobras · the Brazilian company · Brazilian Petroleum corporation Petrobras

Brazilian oil company acquiring 42.5% stake in Namibian oil block PEL104, returning to the country amid regulatory approval disputes.

2026-02-072026-09-06

What’s been said

Key points drawn from coverage. Tap a point to see the original sentence.

February 2026
7 FebThe Namibian
Petrobras acquired 42.5% stake in oil block 2613 in Lüderitz Basin
Source
“Petroleo Brasileiro SA (Petrobras) has acquired a stake in Namibia's offshore oil.”
Petrobras acquires stake in Namibia’s oil

Mining & Energy

Namibia must prepare citizens for oil development ahead

The News

Namibia has made significant offshore oil discoveries but has not yet begun commercial production. Before counting potential revenue, the country needs serious national dialogue about resource ownership, development, government revenue, realistic expectations, and preventing an oil boom from becoming a resource curse—but Namibians currently lack sufficient understanding of the industry.

21 August 2026 · Windhoek Observer →

Friday 21 August

Namibia must prepare citizens for oil development ahead
Namibia has made significant offshore oil discoveries but has not yet begun commercial production. Before counting potential revenue, the country needs serious national dialogue about resource ownership, development, government revenue, realistic expectations, and preventing an oil boom from becoming a resource curse—but Namibians currently lack sufficient understanding of the industry.
21 August 2026 · Windhoek Observer →

Thursday 16 April

Red Soil Energy appeals rejected petroleum licence decision in Supreme Court
Red Soil Energy has appealed to the Supreme Court over the mines ministry's 2021 rejection of its petroleum exploration licence application for four offshore oil blocks. The company claims it was treated unfairly and differently from competing applicants, while the minister argues the application was incomplete and lacked required financial documentation.
16 April 2026 · The Namibian →

Wednesday 1 April

Brazil and Namibia expand oil, trade, and food cooperation
Namibia and Brazil held high-level talks to deepen economic cooperation, with Brazil's energy minister confirming Petrobras' return to Namibia to support oil development and pledging support for food security and bilateral trade. Namibia is seeking Brazilian investment in oil and gas, agricultural technology, and value-added manufacturing to boost job creation and economic growth.
1 April 2026 · New Era →
Namibia and Brazil explore manufacturing and energy partnerships
Namibia's minister of international relations has urged Brazilian companies to establish manufacturing and processing plants in the country for value addition of local products, highlighting Namibia's oil, gas, and green hydrogen resources. Brazil's foreign minister said Petrobras is returning to Namibia and expressed interest in technical dialogues on food exports, framing oil development as an opportunity to foster economic growth and finance low-carbon transitions.
1 April 2026 · The Namibian →

Saturday 21 March

Petrobras holds no current Namibian assets despite exploration deal
Brazilian oil company Petrobras said it holds no current Namibian assets following a courtesy visit to government officials, though it and TotalEnergies are bidders for a 42.5% stake each in a petroleum exploration licence in the Lüderitz Basin, pending regulatory approval.
21 March 2026 · The Namibian →

Monday 16 February

Katti-linked oil stake sale awaits government approval
Namibian businessman Knowledge Katti confirmed that an agreement to sell a stake in petroleum exploration licence PEL104 to TotalEnergies and Petrobras remains subject to government approval. Under the terms, TotalEnergies will acquire 42.5%, Petrobras 42.5%, the National Petroleum Corporation of Namibia 10%, and Eight Offshore 5%.
16 February 2026 · The Namibian →

Wednesday 11 February

TotalEnergies and Petrobras challenge Namibia's oil approval process
International oil giants TotalEnergies and Petrobras announced the acquisition of a stake in oil block PEL104 without prior ministerial approval, prompting the Namibian government to declare the move unlawful. Both companies have since denied wrongdoing and said the transaction remains subject to regulatory approval from the Ministry of Industries, Mines and Energy.
11 February 2026 · The Namibian →

Tuesday 10 February

Government criticises TotalEnergies–Petrobras deal approval process
The Namibian government has challenged a TotalEnergies–Petrobras agreement to acquire controlling stakes in Petroleum Exploration Licence 104 offshore, stating it was informed only minutes before the public announcement and was not formally consulted despite legal requirements for ministerial approval. The ministry stressed that all petroleum transactions require prior approval under Namibian law and reaffirmed its commitment to regulatory compliance and transparency as the country's oil sector develops.
10 February 2026 · New Era →
Energy Minister: TotalEnergies deal broke Namibia's approval requirements
Namibia's Minister of Industries, Mines and Energy expressed concern that TotalEnergies and Galp Energies failed to obtain prior government approval before announcing their acquisition of oil interests in PEL83 (Mopane discovery) and PEL56 (Venus discovery), despite such approval being legally required.
10 February 2026 · Informanté →

Monday 9 February

Ministry says Petrobras, TotalEnergies oil deal was unlawful
Namibia's Ministry of Industries, Mines and Energy has flagged the acquisition by Petrobras and TotalEnergies of a stake in oil block 2613 as unlawful, saying the government was not notified before the transaction was announced and that prior ministerial approval is required by law. Both companies have stated the transaction remains subject to Namibian government approval.
9 February 2026 · The Namibian →

Saturday 7 February

Petrobras returns to Namibia with 42.5% oil block stake
Brazilian oil company Petrobras has acquired a 42.5% stake in oil block 2613 in the Lüderitz Basin, in partnership with TotalEnergies, marking Petrobras' return to Namibia and aligning with the company's strategy for portfolio diversification and reserve replenishment.
7 February 2026 · The Namibian →