Chevron to Sell Stake in Namibia Offshore Exploration Block to QatarEnergy

MT newswire2026/11/09 09:14

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05:14 AM EST, 11/09/2026 (MT Newswires) -- Chevron (CVX) has agreed to sell a participating interest in an offshore exploration block in Namibia to QatarEnergy, the Qatari state-owned energy firm said Monday. Under the terms of the deal, QatarEnergy will acquire a 25% stake in petroleum exploration license 0082, which covers an area of about 11,444 square kilometers. Upon the deal's completion, Chevron will hold a 55% stake, while Namcor E&P and Custos Energy will each hold a 10% interest, QatarEnergy said.

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NAION is an eye disease that can cause sudden, painless loss of vision, with some patients potentially experiencing permanent visual impairment. The drugs involved include products from Eli Lilly and Novo Nordisk. According to analysts at Citi, the incidence of NAION is relatively low, and given the significant benefits of GLP-1 drugs in weight control and blood sugar management, the actual impact on prescription behavior is expected to be limited. On Monday, the stock prices of Eli Lilly and Novo Nordisk increased, with the news not causing any significant impact on their share prices.

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