France’s TotalEnergies plans to spin off Canadian oil sands assets

TotalEnergies said the proposal would be subject to a shareholder vote at its next annual general meeting in May 2023

The spinoff would include TotalEnergies’ 24.58% stake in the Fort Hills oil sands mining project in northern Alberta and its 50% stake in the Surmont thermal project, as well as midstream and trading-related activities.

“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.Pouyanné told investors TotalEnergies had decided on a spinoff because the process would not depend on finding a buyer. The company will maintain a minority stake in the spinoff temporarily to smooth the transition.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

globeandmail /  🏆 5. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Polkadot [DOT] may be on a short bullish sprint thanks to these developmentsPolkadot [DOT] and Cardano [ADA] blockchains are known for their intense developer activity and focus on building their technology. However, this time around, the case may be a little different. According to a recent Santiment tweet published on 27 September, DOT surpassed ADA in terms of non-spam submissions to their GitHub. According to Santiment over […]
Read more »

Most British Columbians will be at work on Sept. 30, but that may change next yearGovernment employees and students will be getting the day off on Friday, Sept. 30, for the National Day for Truth and Reconciliation.
Read more »

UPDATED: Male biker hospitalized with serious injuries after Conception Bay South collision Monday night | SaltWireCaution: Contains images that may be disturbing to some
Read more »

Bitcoin traders rejoicing over BTC crossing the $20k mark may want to read thisBitcoin [BTC] holders, after witnessing the glory of its all time high in November 2021, have been counting their losses for most of 2022. On a year-to-date basis, the price of the king coin has fallen by 57%, data from CoinMarketCap revealed. Furthermore, Grayscale researchers Matt Maximo and Michael Zhao, published a report that stated […]
Read more »