TotalEnergies To Spin Off Canadian Oil Assets As It Prioritizes Climate Strategy ...Middle East

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TotalEnergies To Spin Off Canadian Oil Assets As It Prioritizes Climate Strategy
source : OILPRICE ( Middle East ) () 47
French TotalEnergies plans to spin off its oil sands business in Canada and list the new company on the stock exchange as it no longer fits with its strategy, which now has a focus on low-carbon energy, the company said at an investor presentation. "We are not the best shareholder of these assets because as we have a climate strategy, we don't want to invest in these assets," chief executive Patrick Pouyanne said, as quoted by Reuters. Pouyanne noted that the oil sands assets the company operates in Canada are expected to generate some $1.5…

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