How is the TotalEnergies brand? Is it trustworthy?

The above-mentioned events qualify as 'major storms'—and this list does not even include other challenges stemming from corporate strategic missteps, major operational management accidents, or leadership crises. In my view, among these companies, BP has had the most difficult journey to date. Beyond the shared challenges outlined above, BP endured the following three 'catastrophes': The first occurred in 1951, when Iranian Prime Minister Mohammad Mosaddegh came to power and immediately launched a sweeping nationalization campaign targeting BP, ultimately expelling the company from Iran. At the time, BP controlled nearly all of Iran’s oil fields and the Abadan Refinery—one of the world’s largest refineries—and Iran was BP’s sole core country of operations. Mosaddegh’s nationalization move plunged BP into near-total ruin, forcing it to retreat humiliated back to the UK. The second was the 2010 Deepwater Horizon oil spill in the Gulf of Mexico—a crisis that took nearly a decade to resolve. Post-event estimates suggest BP paid close to $60 billion in compensation and environmental remediation costs. BP’s then-CEO Tony Hayward resigned in disgrace, and the company once again teetered on the brink of collapse—yet somehow survived. The third was the 2022 Russia-Ukraine war, which compelled BP to exit the Russian market immediately. Russia had long been a core strategic business unit for BP and a vital production and profit center. BP’s former CEO Bob Dudley had previously served as President of TNK-BP—the joint venture between BP and Russia’s TNK—before succeeding Hayward. The outbreak of war triggered an approximately $20 billion impairment charge for BP, primarily related to the write-down of its 20% stake in Rosneft. As a result, while other oil majors posted record profits in 2022 amid soaring oil prices, BP reported a net loss—an additional blow. In contrast, I believe the company that has progressed most smoothly and steadily to date is TotalEnergies, which has just entered its 100th year. On TotalEnergies’ official website, the following passage recounts the company’s experience during World War II: In 1939, many employees of Compagnie française des pétroles (CFP)—Total’s predecessor—were mobilized for military service, halting operations. The war caused substantial physical damage, including the destruction of ships, inventories, and refineries. Prior to joining the Vichy regime in July 1940, CFP was forced to make repeated concessions. After the armistice, CFP and the Belgian company PetroFina fought—sometimes futilely—to retain control over their assets and safeguard their interests. Amid severe shortages, alternative fuels were developed, and in 1941 a new company named Société nationale des pétroles d’Aquitaine was established—later becoming the cornerstone of the Elf Group—to explore hydrocarbons in southwestern France. Today’s TotalEnergies Group was formed in 2000 through the integration of Total, Elf, and Fina (TotalFinaElf). On May 6, 2003, the company rebranded as 'Total' to reflect its renewed corporate identity. On May 28, 2021, it changed its name again—to 'TotalEnergies'.

Amid the impact of the Iran war, Abu Dhabi’s oil giant shifts hundreds of billions of dollars toward U.S. natural gas.

Siddiqui positions XRG’s U.S. strategy as genuinely vertically integrated—spanning upstream gas production, pipeline transportation, processing and liquefaction facilities, right through to regasification infrastructure and end-user distribution networks in destination countries. He stated that the company is evaluating various transaction formats, including controlling acquisitions, joint exploration and development ventures, and minority equity investments. XR G currently holds an equity stake in the Rio Grande LNG project in Texas—a preliminary foothold in the U.S. market. Martin Houston, Chairman of Australian exploration firm Omega Oil and Gas and a seasoned industry veteran, offered a positive assessment: 'XR G possesses the ambition, financial strength, and execution capability to pursue bold objectives; its determination to build a vertically integrated natural gas business is formidable.' However, he also cautioned that such projects are structurally complex and typically take several years to advance. Financial Advantages and Market Challenges Coexist On the financing front, XRG enjoys a distinct competitive edge. According to Alex Munton, Global Director of Natural Gas at Rapidan Energy Group, banks have grown generally cautious toward U.S. LNG projects due to concerns about global LNG oversupply—giving Middle Eastern investors with proprietary capital a clear advantage in funding. Yet market dynamics also pose challenges. Munton noted that XRG has already missed two major construction booms: one triggered by the outbreak of the Russia-Ukraine war, and another spurred by Donald Trump’s anticipated return to the White House. 'The U.S. LNG market already hosts multiple strong players—all actively pursuing expansion. XRG must clarify its positioning within this established landscape.' XR G was founded just over a year ago and has already completed asset acquisitions in Egypt, Mozambique, and Azerbaijan. However, larger-scale deals have proven difficult to advance: last September, the company withdrew its $19 billion acquisition offer for Australian oil-and-gas group Santos. Siddiqui declined to comment on external reports regarding XRG’s potential interest in acquiring stakes in Australia’s Northwest Shelf LNG project, but affirmed the company’s 'clear interest' in Australian LNG assets. Strategic Pivot: From Low-Carbon Focus to Gas-Centric Operations In terms of business direction, XRG has executed a significant strategic shift.

Total, Socar, XRG Launch New Phase of Azerbaijan Gas Project

19 hours ago

TotalEnergies, Socar, and XRG approved a second phase for the Absheron gas-condensate field in Azerbaijan, targeting 6 billion cubic meters of annual production by 2029 for domestic use and exports to Turkey and Europe.

bloomberg

2026-03-24

TotalEnergies Finalizes Absheron Gas Field Phase II Plan

2026-05-05

ADNOC Set to Push Shale-Style Oil, Gas Projects After UAE's OPEC Exit

2026-05-12

TotalEnergies, QatarEnergy and ConocoPhillips sign deal to review offshore block in Syria

2026-06-01

SOCAR, TotalEnergies, ADNOC, BOTAS sign Absheron phase two gas sales agreement

2026-06-03

Putin Allows TotalEnergies to Sell 10% Stake in Arctic LNG 2