TotalEnergies mobilized to provide fuel to Ukrainian authorities

TotalEnergies has condemned Moscow's military actions in Ukraine but stopped short of following rivals such as Shell and BP, which have said they will exit positions in resource-rich Russia, Report informs referring to Reuters.

The French oil major, which holds a 19.4% stake in Novatek, Russia's largest producer of liquefied natural gas, said it "will no longer provide capital for new projects in Russia".

"TotalEnergies supports the scope and strength of the sanctions put in place by Europe and will implement them regardless of the consequences (currently being assessed) on its activities in Russia," it said in a statement. "TotalEnergies expresses its solidarity with the Ukrainian people who are suffering the consequences and with the Russian people who will also suffer the consequences. TotalEnergies is mobilized to provide fuel to the Ukrainian authorities and aid to Ukrainian refugees in Europe."

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. It has significant business in Russia, including a stake in the Russian energy company Novatek and the Yamal LNG project.