Latest news with #TotalEnergies
Bloomberg
6 hours ago
- Business
- Bloomberg
TotalEnergies Says It Can Get Mozambique LNG Running by 2029
TotalEnergies SE and its partners can still start producing liquefied natural gas in Mozambique from 2029, as they are poised to resume work at a $20 billion project thanks to improved security, Chief Executive Officer Patrick Pouyanne said in an interview with Nikkei Asia. 'Production will be by 2029,' the CEO of the French energy giant said in an interview with the Japanese media dated June 25. While on-site work was halted after insurgents attacked the region four years ago, 'people continued with the engineering,' so 'we should be able to meet' the 2029 target.
eNCA
11 hours ago
- Politics
- eNCA
Mozambique probes claims of army atrocities near TotalEnergies site
Mozambique's human rights commission said on Friday it has opened an investigation into media reports of deadly abuses by government soldiers against villagers fleeing jihadist unrest near a major TotalEnergies gas plant. Politico reported in September that soldiers tasked with protecting the French fossil fuel giant's site had rounded up villagers following a major attack in 2021 and locked between 180 and 250 into containers, accusing them of being part of an insurgency. The men were held for three months and beaten, suffocated, starved and tortured, with only 26 surviving, according to the report by journalist Alex Perry based on interviews with survivors and witnesses. "If true, the facts alleged in the article may constitute crimes of summary execution (murder) torture and other cruel, degrading or inhuman treatment," the National Human Rights Commission (CNDH) said in a statement. A team of investigators was in place and consulting with officials from the northern Cabo Delgado province, the statement said. They would visit the area to collect statements from witnesses and victims, and also meet representatives of Mozambique LNG, the local subsidiary of France's TotalEnergies. A final report would include recommendations on accountability and possible reparations for victims, it said, without giving a timeline. Mozambique LNG said last year it had no knowledge of the atrocities alleged to have been carried out between April and July 2021. In March 2021 Islamic State-linked militants active in Cabo Delgado since 2017 attacked the port town of Palma, a few kilometres from the TotalEnergies site, sending thousands of people fleeing. Conflict tracker ACLED estimated that more than 800 civilians and combatants were killed while Perry reported, after an investigation, that more than 1,400 were dead or missing. The multi-billion-dollar liquefied natural gas project, a major boon for impoverished Mozambique, has been stalled since then.
Bloomberg
14 hours ago
- Business
- Bloomberg
Total Gets Offers for Potential Sale of Argentina Shale Oil Assets
France's TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina, according to people familiar with the matter. Progress with the divestment comes after Chief Executive Officer Patrick Pouyanne said earlier this year that he'd be willing to offload stakes in the fields at the right price.
Time of India
21 hours ago
- Business
- Time of India
TotalEnergies buys 25% stake in offshore Suriname from Moeve
TotalEnergies has acquired a 25 per cent stake in Block 53 offshore Suriname from Spanish company Moeve , it said on Friday without giving financial details. The block is adjacent to the $10.5 billion Gran Morgu development , on which Total took a final investment decision in October and which is estimated to hold more than 700 million barrels of recoverable resources . The South American country has yet to produce hydrocarbons, but has ambitions to emulate neighbouring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas. Total said Block 53 contains an oil and gas discovery drilled near the border of Gran Morgu, and will allow for project expansion. Spain's second largest oil company Moeve, formerly known as CEPSA , has sold 70 per cent of its oil production assets since 2022 as part of an 8-billion-euro $9.4 billion) plan to pivot toward low carbon businesses. Houston-based APA, which operates Block 53, holds a 45 per cent stake, while Petronas owns 30 per cent.
Time of India
21 hours ago
- Business
- Time of India
UK backs away from renewable energy project to transport energy underwater from Morocco
The United Kingdom has stepped back from a project to transmit power generated by North Africa's winds and sun via underwater cables and is pivoting to other projects seen as less risky, British energy officials said Thursday. The country's Energy Security Department said in a statement that they would no longer support the $33 billion project due to a "high level of inherent risk, related to both delivery and security." The Morocco-UK Power Project was announced by the British company Xlinks in 2021 as part of an effort to create a global energy grid and ship power from places where it's cheap to produce to high-demand markets. Xlinks said the project would provide an equivalent of 8 per cent of Britain's current electricity needs, or roughly 7 million homes. "There are stronger alternative options that we should focus our attention on," British minister Michael Schanks said in a statement, noting the inherent risk for taxpayers and consumers. The United Kingdom relies heavily on natural gas for its energy needs and aims to generate all of its energy from renewable sources by 2030. It closed its last coal-fired power plant last year and offered partial financing to a raft of wind, solar and energy storage projects to help meet its goal. Such large-scale infrastructure projects typically rely on some governmental support or fixed prices per megawatt-hour. Xlinks was pursuing a fixed price agreement and has already received loans from investors including France's Total Energies and the development bank Africa Finance Corporation. Xlinks Board Chair Dave Lewis said in a statement that the company would continue pursuing the project despite the government's decision. "We are hugely surprised and bitterly disappointed," he said, noting that the company believed its project would offer electricity at cheaper rates and more quickly than other proposals, including to expand nuclear power. Xlinks is one of a slew of projects that reflect how European countries are looking south to North Africa for clean energy, testing whether it's cheaper to generate renewable power in ideal conditions far away and ship it, or to produce it domestically. The project would transmit electricity through nearly 4,000 kilometers of underwater cables encased in protective plastic and steel, with minimal transmission loss. If completed, it would be the largest interconnector of its kind, though smaller subsea cable networks already link the UK to neighboring European countries. In addition to Xlinks, transmission projects in Tunisia and Egypt aim to link solar and wind farms to Italy and Greece Moroccan officials did not respond to questions about the decision.
