Briefs Namibia oil discovery

TOTALEENERGIES said an oil discovery off Namibia could be a “giant,” boosting speculation that the country is home to a prolific new hydrocarbon basin. The find in the southwest African country “seems to be a very large” or even a “giant” one, based on the results from a single well, TotalEnergies Chief Executive Officer Patrick Pouyanne said in a presentation to investors in New York on Wednesday. The French major announced an initial discovery in Namibia in February, weeks after Shell Plc also drilled a successful offshore well there. The country has high hopes for its nascent petroleum industry, predicting that it could double GDP by 2040. — Bloomberg.