TotalEnergies ditches Arzew polypropylene production project
The French major has abruptly decided to withdraw from the construction of a huge petrochemical plant in which it had been involved for almost five years.
French major Total is currently in advanced negotiations with the US oil company over its Libyan concession, but Tripoli could yet scupper the process. CEO Pouyanné is aiming for other concessions in Libya, home to Africa's largest oil reserves and where oil is very light.
A serious contender for being the next boss of Total, Stéphane Michel will soon leave behind his role with North Africa and the Middle East, peppered with complications, to move one step closer to his goal.