Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

Wait Pausing Investments

TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies.

Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

Wait Pausing Investments
Revenue, mln.USD
253
Staff
836
Capital, mln.USD
115
Glob.Revenue, mln.USD
184634
Assets, mln.USD
125

TotalEnergies is selling its 49 per cent stake in a Siberian gasfield to Russian energy producer Novatek, days after accusations that the asset supplied feedstock for jet fuel suspected to have been used by the Russian military.

The Company Statement
August 24, 2022

Has halted fresh investment in Russia and suspended trade in Russian oil but stopped short of exiting the country, which makes up 24% of its proven reserves and includes a stake in gas producer Novatek. No longer will provide capital for new projects in Russia/stop purchasing Russian oil; No longer enter into or renew contracts for the purchase of Russian oil and petroleum products, to cease all purchases of Russian oil and petroleum products as soon as possible, but no later than the end of 2022. withdraw from Acrtic LNG 2 project.

Total sells stake in Russian gasfield following military jet fuel claims
June 06, 2022TotalEnergies quits Russia's Kharyaga oil project in wake of sanctions
March 28, 2022First quarter 2022 results: TotalEnergies records a $4.1 billion impairment for Russia and reports IFRS net income of $4.9 billion
March 22, 2022TotalEnergies to Stop Purchasing Oil and Petroleum Products from Russia
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