Patrick Pouyanne

The boss of TotalEnergies told shareholders Friday that new oil fields had to be developed to meet global demand, as the annual meetings of the French energy giant and one of its biggest shareholders were picketed by climate activists.

Consumers should start cutting back on their energy use immediately, the bosses of France's three big energy companies urged Sunday, warning of social tensions next winter unless reserves are replenished.

French energy giant TotalEnergies said yesterday it has rebounded from the COVID-19 crisis with a huge 2021 profit as oil and gas prices soared.

The company reported net profit of $16 billion (14 billion euros) - the highest in at least 15 years - following a historic $7.2-billion loss in 2020, when oil prices crashed.

With Turkey pushing the envelope in the Southeastern Mediterranean and specifically in Cyprus' Exclusive Economic Zone (EEZ), Nicosia hopes that Ankara's bellicose actions may be best addressed by business factors.

It is hoped that the interests of energy giants which will be drilling there may act as a deterrent.

Total is committed to continuing its exploration work in Cyprus, Chief Executive Patrick Pouyanne told Reuters on Monday, part of a major exploration campaign for 2019 focused on areas known to contain commercial levels of oil and gas.

The U.N. Global Compact platform has named leading Turkish mobile phone operator Turkcell's CEO Kaan Terzioğlu as one of the 10 Sustainable Development Goal pioneers over the company's Hello Hope mobile app for Syrian refugees, Turkcell announced on Sept. 22.      

Total expects approval from the Greek parliament by the end of the year to explore for oil off the western coast of Greece, the French company's chief executive told a Greek newspaper.

Greece and a consortium made up of Total, Italy's Edison and Hellenic Petroleum have signed a lease agreement to search for oil and gas in the Ionian Sea.

French oil giant Total said on Aug. 21 that it would buy Maersk Oil, a unit of the Danish shipping giant A.P. Moller-Maersk, for $7.45 billion (6.35 billion euros).

The company said the deal would make Total the second-largest operator in the North Sea, with substantial operations in Britain, Norway and Denmark.

The Paris Climate change agreement is a matter for all oil and gas companies and the U.S. is expected to revise its position toward the Paris Agreement, Patrick Pouyanne, chairman and CEO of Total said on July 11.      

Iran plans to sign a new contract to develop its giant South Pars gas field with France's Total and China's CNPC on July 3, the first major Western energy investment since sanctions against Tehran were lifted, an Iranian oil ministry official told Reuters on July 2.