TotalEnergies goals to scale back greenhouse fuel emissions, oil output

An indication with the emblem of French oil and fuel firm TotalEnergies is pictured at a petroleum station in Reze, close to Nantes, France, January 21, 2022. REUTERS/Stephane Mahe

PARIS, March 24 (Reuters) – TotalEnergies (TTEF.PA) mentioned on Thursday it aimed to scale back greenhouse fuel emissions from its gasoline product gross sales by greater than 30% by 2030, in contrast with 2015.

The French oil main, which is because of maintain an investor convention name on Thursday, additionally mentioned it was setting new targets for decreasing its methane emissions and routing fuel flaring.

“In 2050, TotalEnergies would produce round a million barrels per day, or 1 / 4 of output in 2030,” the corporate mentioned in its presentation.

On Tuesday, TotalEnergies mentioned it could not renew its Russian gasoil and crude oil provide contracts for its German refinery, however as an alternative supply gasoil from Saudi Arabia and crude by way of Poland.

The French firm, which has stakes in a number of Russian initiatives, has come beneath criticism after it stopped wanting becoming a member of rivals Shell (SHEL.L) and BP (BP.L) in planning to divest from oil and fuel belongings in Russia. learn extra

“We face two realities: on the one hand, the Russian army aggression in Ukraine which threatens its inhabitants, European stability and the stability of power markets,” chairman and chief govt Patrick Pouyanne mentioned within the presentation.

“However, the brand new IPCC report starkly reminds us of the local weather urgency.”

Reporting by Benjamin Mallet; Writing by Benoit Van Overstraeten; Modifying by Tassilo Hummel

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