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quitting Russian oil supply contracts does not put company’s future at risk -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This sign, featuring the logo of TotalEnergies French oil-and gas company is shown at Reze (near Nantes), France, 21 January 2022. REUTERS/Stephane Mahe

PARIS (Reuters). TotalEnergies has not decided to stop Russian oil supply contracts, according to Patrick Pouyanne, chief executive of the company. This was a statement made by Patrick Pouyanne on Wednesday.

Pouyanne stated that TotalEnergies will not invest new capital in the Arctic 2 Project.

TotalEnergies stated Tuesday it wouldn’t renew Russian gasoil supply contracts and will source Russian oil via Poland.

After it failed to join rivals Shell (LON 🙂 and BP(NYSE :), the French company has been criticized for its failures to sell Russian oil and gas assets.

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