TotalEnergies to halt all Russian oil purchases by year-end

Mar 22, 2022, 11:56 AM | Updated: 12:19 pm

PARIS (AP) — French energy giant TotalEnergies said Tuesday it has decided to halt all its purchases of Russian oil and petroleum products by the end of the year at the latest.

The French company said in a statement that it will “gradually suspend its activities in Russia” amid the worsening situation in Ukraine.

It stressed “the existence of alternative sources for supplying Europe” with oil.

The group committed to ensure “strict compliance with current and future European sanctions, no matter what the consequences on the management of its assets in Russia.”

Russia represented 17% of the company’s oil and gas production in 2020.

TotalEnergies holds a 19.4% stake in Russia’s natural gas producer Novatek.

It also has a 20% stake in the Yamal LNG project in northern Russia. The group said it continues to supply Europe with liquefied natural gas from the Yamal LNG plant “as long as Europe’s governments consider that Russian gas is necessary.”

“Contrary to oil, it is apparent that Europe’s gas logistics capacities make it difficult to refrain from importing Russian gas in the next two to three years without impacting the continent’s energy supply,” the statement said.

TotalEnergies has also decided to put on hold its business developments for batteries and lubricants in Russia. It will provide no further capital for the development of projects in Russia, the statement said.

The group said it will terminate its Russian oil supplies to the Leuna refinery in eastern Germany by the end of the year, and import oil via Poland instead.

TotalEnergies will also terminate its Russian fuel oil purchase contracts by the end of the year. Europe imported about 12% of fuel oil from Russia last year.

The group said it will import petroleum products from other continents, notably its share of fuel oil produced by the Satorp refinery in Saudi Arabia.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - Eggs are displayed on store shelves at a local grocery store in Chandler, Ariz., Jan. 21, 20...
Associated Press

FACT FOCUS: Egg shortage breeds chicken-feed conspiracies

Social media users claim to have found a new culprit for sky-high egg prices: chicken feed. The theory gained steam on Facebook, TikTok and Twitter in recent weeks, with some users reporting that their hens stopped laying eggs and speculating that common chicken feed products were the cause. Some went a step further to suggest […]
18 hours ago
Associated Press

Ransomware attacks in Europe target old VMware, agencies say

ROME (AP) — Cybersecurity agencies in Europe are warning of ransomware attacks exploiting a 2-year-old computer bug as Italy experienced widespread internet outages. The Italian premier’s office said Sunday night the attacks affecting computer systems in the country involved “ransomware already in circulation” in a product made by cloud technology provider VMware. A Friday technical […]
18 hours ago
FILE - A fuel trucks drives along a highway in Frankfurt, Germany, Jan. 27, 2023. European Union go...
Associated Press

Europe bans Russian diesel, other oil products over Ukraine

The new sanctions create uncertainty about prices as the 27-nation European Union finds new supplies of diesel from the U.S., Middle East and India.
18 hours ago
FILE - Visitors arrive at the Adventureland Park amusement park, July 6, 2021, in Altoona, Iowa. On...
Associated Press

Ride at Iowa amusement park where boy died will never reopen

ALTOONA, Iowa (AP) — The ride at an Iowa amusement park where an 11-year-old boy was killed in 2021 will never reopen, the park’s owners said. Bill Lentz, Adventureland’s general manager, said in a letter posted on the park’s website Friday that after spending months reviewing the safety of the Raging River ride, officials decided […]
18 hours ago
East Palestine resident Kathy Burr waits for help at the Norfolk Southern Assistance Center at the ...
Associated Press

Safety Board: Mechanical defect caused Ohio train wreck

EAST PALESTINE, Ohio (AP) — A mechanical issue with a rail car axle caused the fiery derailment of dozens of freight cars in Ohio near the Pennsylvania state line Friday night, federal investigators announced Sunday. The smoldering tangle of cars, some carrying hazardous materials, kept an evacuation order in effect. Michael Graham, a board member […]
18 hours ago
This image released by Universal Pictures shows Dave Bautista, from left, Abby Quinn, and Nikki Amu...
Associated Press

‘Knock at the Cabin’ knocks off ‘Avatar’ at the box office

NEW YORK (AP) — For the first time in almost two months, the box office doesn’t belong to blue people. After seven weeks as the top film in theaters, “Avatar: The Way of Water” was finally knocked out of the No. 1 spot by the M. Night Shyamalan thriller “Knock at the Cabin” and the […]
18 hours ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Company looking for oldest air conditioner and wants to reward homeowner with new one

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.
...
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
(Photo via MLB's Arizona Fall League / Twitter)...
Arizona Fall League

Top prospects to watch at this year’s Arizona Fall League

One of the most exciting elements of the MLB offseason is the Arizona Fall League, which began its 30th season Monday.
TotalEnergies to halt all Russian oil purchases by year-end