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France urges Total Energies to accelerate its investments in renewable energy
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Baghdad today - follow-up
French Energy Transition Minister Agnès Bannier-Ronacher on Friday urged Total Energies to accelerate its investments in renewables, after the company faced climate protests at its annual shareholder meeting .
"Total is investing in renewable energies, but the challenge is to go faster, stronger and, above all, faster, " said the minister.
The company already has a strategy in place to reduce carbon emissions. It sold its oil sands operations in Canada to Suncor Energy for $4.1 billion, as part of that strategy .
It is noteworthy that "Total Energies" had achieved a net profit in the first quarter of 2023 amounting to $ 5.6 billion, an increase of 12 percent, despite the decline in oil and gas prices .
During the first quarter of last year, the French giant group recorded a net profit of $4.9 billion, but taking into account the large reserves, as a result of a $4.1 billion decrease in assets due to the sanctions imposed on Russia .
In 2022, the French group recorded the highest profits in its history, amounting to $ 20.5 billion, benefiting from the rise in gas and oil prices in the wake of the Ukrainian crisis.
Source: Sky News Arabia
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