Total

France's TotalEnergies, one of the largest foreign investors in billionare Gautam Adani's business empire, said it has put on hold participation in Indian conglomerate's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller. While the partnership with Adani group was announced in June last year, TotalEnergies has not yet signed a contract, the French group's chief executive Patrick Pouyanne said at earnings call. As per the June 2022 announcement, TotalEnergies was to take 25 per cent equity in Adani New Industries Ltd (ANIL) - the Adani Group firm that is investing USD 50 billion over 10 years in green hydrogen ecosystem that includes an initial production capacity of 1 million tonnes before 2030. "Obviously, the hydrogen project will be put on hold until we have clarity," Pouyanne said. TotalEnergies, which has an exposure of USD 3.1 billion in Adani group, will wait for the result of an audit launched by the conglomerate

The company also said that said it has not performed any re-evaluation of its holdings because of volatility in stock prices in Adani stocks

French President Emmanuel Macron has promised to follow-up French energy giant Total's oil and gas exploration in Lebanon to ensure its continuous work, a statement by Lebanon's Presidency reported.

Experts expect the firm to make further announcements in green energy

Gautam Adani, chairman, Adani Group said, he is confident the company will produce the world's least expensive green hydrogen

Total agreed last year to invest in four oil, gas and renewables projects in the southern Basra region over 25 years

TotalEnergies, as it is now called, said it produces and sells energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity

As part of the current deal, TOTAL will pick up a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $2.5 bn

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Total said on Monday that its purchase of the stake in AGEL would give Total a seat on the board of directors of AGEL

The JV company has completed this transfer of the assets at an enterprise valuation of Rs 1,632 crore

SLNG is also exploring ways to speed up the use of LNG and other green energy alternatives

Mozambican security forces have been battling a low-level insurgency against militias suspected of having links to Islamic State in the gas-rich north of the country

Total had said late last year that CGD was a natural extension of the plans of both partners to invest in infrastructure and assets worth over $1 billion

Next 2-3 months to test if domestic steel price hikes are sustainable

With a planned production of nearly 1,200 Gwh per year, these solar PV projects will generate the energy required to meet the annual electricity needs of 1.1 mn Indian homes