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French Total ends oil contracts with Russia resorts to Saudi Arabia

French Total ends oil contracts with Russia resorts to Saudi Arabia

TotalEnergies Global a French oil business, announced that it will not renew contracts to supply Russian gas and crude oil to the Leuna refinery in Germany, instead opting for imports from Saudi Arabia and Poland.

The Leona refinery has a capacity of 240,000 barrels per day and is supplied with Russian oil via the Druzhba pipeline.

Contracts for a long time:

Total said that because of the end of its long-term supply contract, the last of its oil products will be imported from Russia by the end of the year.

Against the backdrop of the invasion of Ukraine, the corporation said on March 1st that it would “halt dedicating cash to new initiatives in Russia,” but would not abandon existing operations.

“We agree with the extent and strength of the measures imposed by Europe,” the group said.

The group added that they will apply them regardless of the effects that are currently being assessed on the management of our assets in Russia.

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