TotalEnergies quits Russia's Kharyaga oil project in wake of sanctions

TotalEnergies quits Russia's Kharyaga oil project in wake of sanctions
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PARIS (July 6): France's TotalEnergies has agreed to transfer its remaining stake in Russia's Kharyaga oilfield to Russian state producer Zarubezhneft, the company told Reuters, as it continues its withdrawal from Russia in the wake of Western sanctions.

"TotalEnergies has agreed to transfer to Zarubezhneft the remaining 20% interest that the company held in the Kharyaga oilfield," a spokesperson for Total said in response to a Reuters query.

"This transaction is subject to the approval of the Russian authorities."