Like many of its oil-and-gas industry peers, TotalEnergies, the French petroleum refining company, reported record profit growth in 2021 as gas prices spiked in the wake of resurgent travel. At the same time, the company continued to execute its plan to hit net-zero carbon emissions by 2050 by investing in renewable energy sources. In January 2022, TotalEnergies won rights from the Scottish government to begin building an offshore wind farm in Scottish waters that should be operational by 2030. In July 2022, the company announced talks with the United Arab Emirates to import diesel fuel to France to help address the energy shortage triggered by Russia’s invasion of Ukraine.
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