Market Chatter: TotalEnergies to Invest in Fujairah Oil Pipeline Expansion, CEO Says

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TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported Monday, citing Chief Executive Patrick Pouyanne at the ONS energy conference in Norway.

Pouyanne has previously called for investing in alternative oil export routes to reduce reliance on the Strait of Hormuz, which typically handles about a fifth of global oil shipments, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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