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

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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

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Revenue(RF), 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. 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, 2022Russia: 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, 2022TotalEnergies announces start of withdrawal from gas megaproject in Russia
December 09, 2022TotalEnergies does not intend to withdraw from the Yamal LNG project
November 09, 2022TotalEnergies CEO: our main motivation on Russia is to bring LNG over to Europe
December 12, 2022TotalEnergies withdraws Novatek directors but keeps Russian LNG stakes
October 18, 2022The head of Total explained the continuation of work in Russia
July 17, 2022TotalEnergies still present in Russia: "We need this gas", defends Patrick Pouyanné
November 27, 2022TotalEnergies lands $9.9 bln profit as it books new Russia charge
October 14, 2022France's TotalEnergies Faces 'War Crimes Complicity' Case
September 05, 2022TotalEnergies to continue shipping Russian LNG as long as no EU sanctions -CEO
September 24, 2022TotalEnergies contributes $1.5 billion to LNG project in Qatar
May 26, 2022Total sells stake in Russian gasfield following military jet fuel claims
January 06, 2023TotalEnergies quits Russia's Kharyaga oil project in wake of sanctions
August 24, 2022No, TotalEnergies does not produce kerosene for the Russian army.
December 09, 2022https://www.reuters.com/business/energy/totalenergies-writes-down-novatek-stake-37-bln-2022-12-09/
April 22, 2022TotalEnergies to Stop Purchasing Oil and Petroleum Products from Russia
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