Total SA Chief Executive Officer Patrick Pouyanne confirmed that the French multinational oil company is concerned about possible consequences on its operations if the US follows through with plans to reimpose sanctions on Iran where the company is involved in a major natural gas development project. “As soon as the US decides to reimpose sanctions, Total will lose access to US banks, which is vital. We could lose US shareholders and it could affect our US assets,” he said on May 17.
But Pouyanne also expressed a determination not to let immediate problems keep Total from pursuing its long-term strategy of moving into businesses that effectively address climate change and other problems while keeping global energy reliable and affordable. “The goal is to make Total one of the world’s major energy companies. Addressing climate change by helping create a low-carbon future is an important part of this,” he said during remarks at the Center for Strategic and International Studies.
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