Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Wait Pausing Investments
TotalEnergies
TotalEnergies
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 InvestmentsGlob.Revenue, mln.USD
184634
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. TotalEnergies lands $9.9 bln profit as it books new Russia charge. France’s TotalEnergies exits Russian gas firm’s board. No longer will provide capital for new projects in Russia/stop purchasing Russian oil; withdraw from Arctic LNG 2 project.
The Company Statement
December 09, 2022
Has halted fresh investment in Russia and suspended trade in Russian oil but stopped short of exiting the country, which makes up 24% of its proven reserves and includes a stake in gas producer Novatek. No longer will provide capital for new projects in Russia/stop purchasing Russian oil; No longer enter into or renew contracts for the purchase of Russian oil and petroleum products, to cease all purchases of Russian oil and petroleum products as soon as possible, but no later than the end of 2022. Withdraw from Acrtic LNG 2 project. TotalEnergies to continue shipping Russian LNG as long as no EU sanctions.
| December 09, 2022 | Russia: TotalEnergies Decides to Withdraw Its Directors From Novatek And Will No Longer Equity Account for Its Stake in Novatek and Record a 3.7 b$ Impairment in Q4 |
| April 28, 2022 | TotalEnergies announces start of withdrawal from gas megaproject in Russia |
| December 09, 2022 | TotalEnergies does not intend to withdraw from the Yamal LNG project |
| November 09, 2022 | TotalEnergies CEO: our main motivation on Russia is to bring LNG over to Europe |
| December 12, 2022 | TotalEnergies withdraws Novatek directors but keeps Russian LNG stakes |
| October 18, 2022 | The head of Total explained the continuation of work in Russia |
| July 17, 2022 | TotalEnergies still present in Russia: "We need this gas", defends Patrick Pouyanné |
| November 27, 2022 | TotalEnergies lands $9.9 bln profit as it books new Russia charge |
| October 14, 2022 | France's TotalEnergies Faces 'War Crimes Complicity' Case |
| September 05, 2022 | TotalEnergies to continue shipping Russian LNG as long as no EU sanctions -CEO |
| September 24, 2022 | TotalEnergies contributes $1.5 billion to LNG project in Qatar |
| May 26, 2022 | Total sells stake in Russian gasfield following military jet fuel claims |
| January 06, 2023 | TotalEnergies quits Russia's Kharyaga oil project in wake of sanctions |
| August 24, 2022 | No, TotalEnergies does not produce kerosene for the Russian army. |
| December 09, 2022 | https://www.reuters.com/business/energy/totalenergies-writes-down-novatek-stake-37-bln-2022-12-09/ |
| April 22, 2022 | TotalEnergies to Stop Purchasing Oil and Petroleum Products from Russia |
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