TotalEnergies Completes the Sale of Its Upstream Canadian Assets to Suncor
- The sale of TotalEnergies EP Canada Ltd. to Suncor for C$1.47 billion is a significant financial move for TotalEnergies.
- This sale includes TotalEnergies' participation in the Fort Hills oil sands asset and associated midstream commitments.
- The completion of this transaction marks a strategic shift for TotalEnergies in its asset portfolio.
- None.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has completed today the sale to Suncor of the entirety of the shares of TotalEnergies EP Canada Ltd., comprising notably its participation in the Fort Hills oil sands asset and associated midstream commitments. The consideration for the transaction is
On October 4th, TotalEnergies had already completed the sale of its
“With these two divestments over the last couple of months, TotalEnergies effectively exits the Canadian oil sands, focusing our allocation of capital to Oil & Gas assets with low breakeven. The Company has hence received more than
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
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Source: TOTALENERGIES SE
FAQ
What is the recent transaction involving TotalEnergies (TTE)?
What assets are included in the sale of TotalEnergies EP Canada Ltd. to Suncor?
What is the significance of the completion of this transaction for TotalEnergies?
