TotalEnergies plan to restart LNG project is a positive for the energy minister of Mozambique
Mozambique’s energy minister stated on Friday that the government had not received a formal request from TotalEnergies for the lifting of a declaration of force majeure on the $20 billion liquefied gas (LNG), project in the country. However, he was optimistic about TotalEnergies' plan to restart its development during the summer.
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable.
WGC-TotalEnergies CEO wants to lift the force majeure on Mozambique Liquefied Natural Gas project
TotalEnergies, said Chief Executive Patrick Pouyanne on Tuesday, will ask Mozambique for its approval to lift the force majeure on their $20 billion liquefied gas (LNG), project in Mozambique and resume construction before mid-summer. The project has been covered by force majeure due to insurgent attacks since 2021.
TotalEnergies and BWEnergy to decide on Namibian projects by the end of next year, Minister says
Namibia's petroleum commissioner stated on Tuesday that the French oil giant TotalEnergies will make a final decision on investment (FID) for its Venus discovery within the African nation in the fourth quarter 2026. Maggy Shino, at a conference held in Paris, said that she expected…
US loans TotalEnergies almost $5 billion for Mozambique's gas project. FT reports
Financial Times reported that the Trump administration released nearly $5 billion to fund a project in Mozambique by France's TotalEnergies for liquefied gas (LNG). Estevao Palae, Mozambique’s Minister for Energy, told Financial Times that the U.S. Export-Import Bank has reapproved a loan of $4.7 billion for the project.
Total CEO: Company rejected Venture Global LNG as supplier due to lack of trust
TotalEnergies has rejected the opportunity to be a long-term client of Venture Global LNG U.S. Terminals, because it does not trust them, said CEO Patrick Pouyanne on Wednesday. Venture Global, the U.S.'s most valuable LNG company, has seen its stock price soar after a massive initial public offering (IPO) last month.
TotalEnergies CEO: US funding for Mozambique LNG Project expected in the coming weeks
TotalEnergies CEO Patrick Pouyanne stated on Wednesday that the financing for the $20 billion Mozambique Gas Project is expected to be approved by the United States in the coming weeks. Other credit agencies will follow in the following months. The company must wait for the reapproval of loans from the United States and UK export credit agencies…
TotalEnergies CEO: Europe should negotiate free trade with US of LNG
TotalEnergies CEO Patrick Pouyanne stated on Wednesday that European nations should negotiate to get a free-trade guarantee for liquefied gas (LNG). These comments were made as U.S. president Donald Trump imposed tariffs on Chinese goods, leading to Beijing imposing a 10% levy on U.S. crude and 15% on U.S. LNG in response on Tuesday.
TotalEnergies exceeds expectations in the fourth quarter profit and signals a stronger 2025
TotalEnergies, the French oil giant, beat the expectations for its fourth-quarter earnings Wednesday. Higher trading profits on the gas market helped to offset the impact of low fuel prices and weak demand. The adjusted net income for 2024's final quarter was $4.4 billion. This is down 15% on the $5.2 billion of the previous year…
Mozambique President discusses LNG and hydro projects with TotalEnergies CEO
Patrick Pouyanne (CEO of TotalEnergies) met Mozambique President Daniel Chapo on Monday. The two discussed several projects of the company in the southern African nation, including the long-delayed development of liquefied gas worth $20 billion. The French oil major confirmed last week that the force majeure on the project had not yet been lifted.
Total closing in on 2 bln euro deal for renewables developer VSB, Bloomberg reports
Bloomberg News reported that TotalEnergies, a French oil giant, is on the verge of acquiring renewable developer VSB Group. The deal will cost about 2 billion euro ($2,10 billion). TotalEnergies has declined to comment. VSB Group, Partners Group and TotalEnergies did not respond to comments immediately.
Egypt's Petroleum Ministry ties arrears payment to production boost amid decreasing gas output
According to a statement from the petroleum ministry on Monday, Egypt plans to link arrears payment to increased production as part of its plan to settle outstanding debts with international oil companies. The statement said that the ministry recently introduced an incentive package to encourage partners to increase output above current levels.
TotalEnergies CEO: Up to $2 billion in Russia still stuck
Patrick Pouyanne, CEO of TotalEnergies, told analysts that the French oil giant's stakes in Russian gas company Novatek and its Yamal LNG project in Russia generate between $1.5 and $2 billion annually in dividends. Pouyanne stated that although the company was able to move some money…
The front-runner for Mozambique president is likely to continue keeping Rwandans on the job of protecting gas sites
Analysts say that the ruling party candidate for this month's election, who is almost guaranteed to win, will continue to rely on Rwanda's army and European money in order to secure the region's vast gas fields, which are plagued by islamist violence. Daniel Chapo (47), an ex-highschool teacher…
TotalEnergies CEO to meet Mozambique President to advance project in the country
TotalEnergies' CEO Patrick Pouyanne announced that he would be traveling to Mozambique in the latter part of this month to discuss the planned Mozambique Liquefied Natural Gas project with the new president. Pouyanne stated that there has been recent "progress in security". On Oct.
What are the main issues in Mozambique's elections?
Next week, Mozambicans are voting in legislative and presidential elections. It is almost certain that the Frelimo Party will extend its half-century in power. The party has been fighting a longstanding Islamist insurgency within one of Africa's biggest gas fields. Daniel Chapo is the candidate of the ruling party and a former law professor.
Suriname oil and gas project worth $10 billion to be approved by TotalEnergies and APA
TotalEnergies, a French company, and APA Corp, based in the United States, announced on Tuesday a positive decision to invest in Block 58 of Suriname, the most promising offshore oil and gas project. This is expected launch Suriname’s first offshore production. The small South American nation wants to follow the example of its neighboring Guyana.
Sources: TotalEnergies will sign a $10 billion deal for Suriname's offshore project
Four sources familiar with the project said that TotalEnergies, a French oil company, will sign the final investment decision on Tuesday, for the first offshore oil and natural gas development of Suriname. The development is expected to cost more than $10 billion. Gran Morgu, located in Block 58 140 km off of the coast of South America…
TotalEnergies denies knowing about alleged torture and killings at Mozambique Liquefied Natural Gas site
PARIS, September 26 - French oil giant TotalEnergies responded to a report in the media by saying that it was unaware of the torture and killings allegedly committed on site of the future Mozambique Liquefied Natural Gas plant. Politico reported earlier Thursday that Mozambican soldiers working out of this site…
Oil May Hit $100 but Volatility Will Grow, Say Energy CEOs
Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday."There is quite a chance to reach $100 but we could see again in the coming years some lows as we have been accustomed to volatility," TotalEnergies Chief Executive P
