Total raises East Africa stake

Total’s $7.45bn acquisition of Denmark’s Maersk Oil, announced on 21 August, is mostly aimed at consolidating Total’s position in the North Sea, but will also give the French company acreage in Kenya, Algeria and Angola. Maersk said Total would take over the company’s entire organisation, portfolio, obligations and rights “with minimal preconditions”. Planned development schedules and investments in strategic and sanctioned projects will be upheld.