(CercleFinance.com) – TotalEnergies formally denied press reports on Friday that the French oil group would produce kerosene for the Russian army.
According to a recent article in the newspaper Le Monde, the company would receive income from the sale of gas condensate which, once transformed into kerosene, would refuel the Russian fighter planes which are currently bombing Ukraine.
In a press release, Total says that the condensates produced by its subsidiaries and companies linked to its Russian partner Novatek are treated in its Purovsky plant.
All of these condensates are then delivered to the Ust-Luga industrial complex, in the Leningrad region, which manufactures a series of products including kerosene exclusively exported outside of Russia, he adds.
The hexagonal giant stresses that this fuel does not have the necessary certificates to be marketed on the Russian market.
“As a result, it is clear that certain media allegations and calls to investigate TotalEnergies’ activities in our joint ventures have absolutely no basis in fact,” the group says.
TotalEnergies, which evokes a ‘baseless’ controversy which damages the reputation of the company, indicates that it has decided to take all legal action to put an end to it if it still proves necessary.
On the Paris Bourse, the action of the energy heavyweight rose by 0.2% on Friday morning following the publication of this denial, to be compared with a gain of 0.5% for the CAC 40 index.