As Europe Sends $300 Million per day to Russia for Oil and NatGas, TotalEnergies Looks After Customers in Tricky Decision

After the serious and unfounded accusations of “complicity in war crimes” leveled against TotalEnergies, the Company shares with its stakeholders its principles of conduct regarding its Russian related businesses in order to allow them understand how our Company is acting in a responsible manner. Considering the worsening conflict, TotalEnergies is also taking new steps.

…

TotalEnergies is a minority shareholder in a number of non-state-owned Russian companies: Novatek (19.4%), Yamal LNG (20%), Arctic LNG 2 (10%) and TerNefteGaz (49%). These companies are managed by their own staff with a limited number of secondees from TotalEnergies. TotalEnergies is also a 20% partner in the Kharyaga joint venture operated by Zarubezhneft. The Company did indeed contribute to the construction phase of these companies’ projects but has no activity or operational responsibility on those sites.

CarrZee Carbon

On Social Media.

This is a fascinating post from the Total CEO Patrick Pouyanne and some biting comments about how big business should / shouldn’t react to war. TotalEnergies isn’t abandoning Russia like other companies because that would hurt its customers.

Comments range from:

Sorry,Patrick Pouyanné. Time and again, you pick profits over morals as your primary responsibility to your shareholders. Shame on you for failing to rejectevil.

to

Very well stated Patrick. Thanks for your leadership especially in the face of this complex and dynamic situation……..energy just as water will always remain [a] potential weapon. Sanctions are easy to announce but often implementation comes with unintended consequences.

Here is a snip of Pouyanne’s Post

Patrick Pouyanné• Chairman and CEO at TotalEnergies — 1d • Edited •1 day ago

Responsibility requires us to seek answers to complex, sometimes dramatic,situations.

We are all deeply affected by the conflict in

View original post 149 more words