writing by Tassilo Hummel; Editing by GV De Clercq Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved Download the Press Release (PDF)  Realigning the two companies’ interests to improve integration The companies’ sites that produce and use ethylene in eastern France are connected by a pipelines and storage network that begins at Lavéra in south-eastern France and passes through Feyzin to Carling in the north-east. However, TotalEnergies does not itself use its share of production from the Lavéra steam cracker, which is equally (50/50) owned with INEOS, and sells it mainly to INEOS. In order to realign the companies’ production and internal use of ethylene, TotalEnergies will therefore sell its stake in the Lavéra assets to INEOS, in addition to part of its interests in the Eastern France ethylene pipeline and storage network, which TotalEnergies will continue to operate. TotalEnergies reaffirms the key role of the Feyzin petrochemical platform Within TotalEnergies, the Company is thus consolidating the key role of the Feyzin petrochemical platform as the integrated supplier of ethylene to the Carling platform. The agreement will have no operational impact on TotalEnergies’ refining and petrochemical sites. "This operation allows us to strengthen the links between our Feyzin and Carling petrochemical sites, with Feyzin becoming Carling’s integrated ethylene supplier, in line with our strategy to focus on our integrated platforms," said Jean-Marc Durand, Senior Vice President, TotalEnergies Refining Base Chemicals Europe. The implementation of this project is subject to the prior consultation process of employee representatives and the approval from the relevant authorities. TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people. Reporting by Rowena Edwards; Editing by Alexander Smith You don't have permission to access the page you requested What is this page?The website you are visiting is protected.For security reasons this page cannot be displayed This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page investors who want to address climate change should focus on one simple but essential goal: active stock ownership They should engage with companies on both sides of the energy transition–those heading in the right direction and those falling woefully short and move away from blame and toward responsibility Engine No. 1 spent the first six months of 2021 in a fiercely contested proxy battle with ExxonMobil, trying to place four new members with industry expertise and experience in transitioning away from fossil fuels on a board lacking in both. We were successful in winning three of those seats and the company’s behavior has begun to change every energy company needs a strategy for transitioning away from fossil fuels But the company’s behavior has started to change and we’re confident that had we not engaged with Exxon a year ago the changes we’ve witnessed so far wouldn’t have happened So, the goal for 2022 should be active ownership, and it should not be limited to large or professional investors. Now more than ever, retail investors are interested in engaging on issues they care about But many of those investors don’t even realize they have a vote on issues related to companies’ environmental and social impacts or the way those companies are managed Anyone who owns even a single share of stock in some ways owns that company they can vote on proposals ranging from a company’s environmental policies to important management policies such as executive pay and board composition Just like voters in political elections change the direction of countries shareholders have the ability to push the direction of the companies they own Read more: Thinking of Investing in a Green Fund? Many Don’t Live Up to Their Promises, a New Report Claims Historically, the way investors tried to change a company’s bad climate-impact behavior was to divest their holdings as a show of discontent Divestment was an important early step in bringing awareness to the negative effects that companies can have But the idea that simply walking away will help solve the problem is misguided If every investor who cared about moving away from fossil fuels and addressing climate change divested from Exxon to show their disdain for the company and its approach it would simply leave the company with shareholders that don’t particularly care—and that would be a problem It certainly would have doomed our effort to place new members on the board investors big and small should make it their goal to vote this proxy season on all environmental social and governance issues raised at the annual meetings of companies they own They should sharpen their elbows and raise their voices This essay is part of a series on concrete goals the world should aim for in 2022 in order to put us on track to avert climate change-related disaster. Read the rest here Contact us at letters@time.com CFM is ramping up production of its Leap engines to meet Airbus A320neo demand Skyrocketing prices for gas and electric power in Europe are beginning to affect Safran’s supply chain as well as the company’s strategic decisions as the manufacturer struggles to orchestrate a steep production increase for its commercial aviation products “They are a serious and growing concern for us and the entire industry,” CEO Olivier Andries says “When I look at the price of a megawatt hour in France and now [the price is] significantly higher in Europe Despite our hedging policy on energy prices we have seen them increasing by a factor of 2-2.5 between 2019 and 2022 this will be a fivefold increase in France and Europe between 2019 and 2023.” Safran’s decision to create a fourth carbon brake factory has been postponed by 18-24 months “We have to factor in that evolution for our future investments,” Andries says “Energy costs account for 40% of the cost of a carbon brake.” Plans for the factory were announced in 2019 it would complement the existing one in nearby Villeurbanne Energy prices are much lower at the company’s other manufacturing sites in Walton As the Feyzin project has been put on the backburner production capacities are being increased in Walton and Sendayan A €250 million ($247 million) investment the Feyzin plant was to add 200-300 metric tons of annual production capacity to the current 1,500-1,700 metric tons by 2028 Safran Landing Systems CEO Cedric Goubet said in October A new process for carbon brake manufacturing currently in the research and technology stage is targeting a fourfold to fivefold improvement in energy efficiency The process was to be introduced at the Feyzin plant first before being retrofitted to other factories Safran’s supply chain is being affected by energy prices Many suppliers do not have hedging policies “Some prefer to stop producing rather than lose money,” Andries says “We welcome the French government’s plan to support small and medium-size enterprises [and help them curb their energy expenditures] It is not just a matter of living through the next winter; it is about France and Europe’s competitiveness against other regions “And note: The plan does not address large companies,” Andries adds Safran is still dealing with delays—even though Airbus CEO Guillaume Faury says the number of aircraft waiting for their engines to be delivered is no longer “meaningful.” “We are late with Airbus and Boeing,” Andries says  where the aerospace supply chain had less support than in Europe during the COVID-19 crisis CFM is a GE-Safran joint venture and therefore has a strong footprint in the U.S but the catch-up phase will last until the end of 2023 Fewer than 1,200 engines will be delivered in 2022 As for the target of 2,000 deliveries in 2023 but it will be a challenge,” he adds “We operate in a degraded environment,” Airbus’ Faury says and a lot of outstanding work is complicating the production flow “The efficiency is low and predictability is low,” Faury concedes “It will take until mid-2023 or longer to recover significantly I hope we are at [the lowest] point.” to 347 engines in the third quarter from 226 in the second quarter “We made commitments with Airbus until 2024 and we are focusing on the 2022-23 ramp-up,” Andries says Faury has reaffirmed plans to increase A320neo-family aircraft production to 75 per month by 2025 Andries expects CFM will eventually deliver about 100 Leap 1Cs per year when the program is mature on the production side Geopolitical tensions also are having an effect on Safran’s supply chain policy as the company moves toward a dual-sourcing strategy we had decided from the beginning to have two sources for each component and thus avoid single points of failure,” Andries says “We are reinforcing that approach—we want to be multicountry multisource and favor friendly countries—what we call friend-shoring.” Thierry Dubois has specialized in aerospace journalism since 1997 An engineer in fluid dynamics from Toulouse-based Enseeiht His expertise extends to all things technology in Europe Thierry is also the editor-in-chief of Aviation Week’s ShowNews Jens is executive editor and leads Aviation Week Network’s global team of journalists covering commercial aviation insight and analysis from our award-winning editors delivered to your inbox daily Safran has announced plans to build a new production facility for aircraft carbon brakes in Feyzin The company says the plant will incorporate a range of "Factory 4.0" technologies developed by Safran which it expects to result in reduced energy and water consumption and increased use of renewable energy Safran anticipates adding up to 200 new employees at the facility after its completion Safran’s carbon brakes are used on more than 10,000 airplanes flying for 500 airlines worldwide Safran currently produces carbon brakes at plants in Villeurbanne The timeline for completion of the new facility has not been made public The transaction also includes terminals in Toulouse and Villette-de-Vienne a consortium comprising commodity trader Trafigura and Entara has entered into an agreement with ExxonMobil’s ESSO SAF to acquire the Fos-sur-Mer refinery in France.  the financial terms of which were not disclosed also includes terminals in Toulouse and Villette-de-Vienne has direct access to a major port and the capability to handle a diverse range of crude oil feedstocks Rhône Energies aims to leverage the refinery’s workforce and manufacturing performance to enhance margin capture Rhône Energies plans to retain approximately 310 staff members.  As part of the acquisition terms set out in April Trafigura will enter a minimum ten-year exclusive agreement for crude oil supply and product offtake with Rhône Energies.   Don’t let policy changes catch you off guard Stay proactive with real-time data and expert analysis This arrangement includes ownership of crude oil and product stocks guaranteeing the refinery a secure and cost-effective feedstock supply as well as a reliable outlet for its refined products in the domestic market.  In addition to the supply chain agreements Rhône Energies has pledged to continue providing Esso SAF with products in the region.   The company also plans investments in the refinery to reduce its carbon footprint and to support the co-processing of biogenic feedstocks thereby increasing the production of renewable fuels.  part of the Rhône Energies consortium and established by former Crossbridge Energy executives will manage the Fos-sur-Mer asset.   asset integrity and performance in commercial Entara CEO Nicholas Myerson said: “We are delighted to have finalised the sales agreement for the Fos-sur-Mer refinery and the Toulouse and Villette-de-Vienne terminals.   “We look forward to continuing our engagement with the operational management and the transition team to ensure a smooth transition of operations Discussions with national and local stakeholders have been particularly constructive and we remain committed to collaborating with all parties on operations and our future plans.”   The sale agreement follows a consultation process with employee representatives.   Discussions with relevant authorities are in progress with the necessary approvals expected by the end of October 2024 Give your business an edge with our leading industry insights View all newsletters from across the GlobalData Media network TotalEnergies SE and INEOS Group have entered a deal to realign ownership interest in their jointly held petrochemical production assets and logistics infrastructure located at the 650-acre Lavéra platform along the Mediterranean coast in southeastern France INEOS Olefins & Polymers Europe has agreed to purchase TotalEnergies’ 50% interest in the companies’ existing Naphtachimie and Appryl joint-venture (JV) chemical production businesses and other infrastructure assets including part of TotalEnergies ethylene pipeline network in France TotalEnergies and INEOS said in separate releases on July 5 the deal would transfer INEOS Olefins & Polymers South 100% ownership of the following JV operations: INEOS also would acquire the southern sections of TotalEnergies’ ethylene pipeline network running from Lavéra to France’s Lyon region The pipeline system’s central and northern sections—from the Lyon to Lorraine regions—would be held equally by both INEOS and TotalEnergies Still subject to consultation and necessary regulatory approvals the deal is anticipated for completion by yearend 2023 the proposed acquisition of chemical and infrastructure assets comes as part of a strategy to further integrate and enhance competitiveness of its French and southern European businesses as well help reduce carbon dioxide emissions meet internal climate abatement targets in line with the company’s Net Zero 2050 commitment chief executive officer of INEOS Olefins & Polymers South Realignment of its stake in the petrochemical and logistics similarly complements TotalEnergies’ integration and balance of its production and internal use of ethylene in eastern France While the jointly held sites that produce and use ethylene in eastern France via a pipeline-and-storage network that begins at Lavéra in southeastern France and passes through Feyzin to Carling in the northeast TotalEnergies said it does not currently use its share of production from the Lavéra steam cracker but instead sells most of it to INEOS which will continue to act as operator of the ethylene logistics network said the asset divestment plan specifically will support integration between its 109,000-b/d Feyzin integrated refining and petrochemical platform and the company’s Carling polymer production site in eastern France "This [proposed deal] allows us to strengthen the links between our Feyzin and Carling petrochemical sites with Feyzin becoming Carling’s integrated ethylene supplier in line with our strategy to focus on our integrated platforms," said Jean-Marc Durand senior-vice president of TotalEnergies Refining Base Chemicals Europe the proposed divestments will have no operational impact on TotalEnergies’ refining and petrochemical sites Robert Brelsford joined Oil & Gas Journal in October 2013 as downstream technology editor after 8 years as a crude oil price and news reporter on spot crude transactions at the US Gulf Coast He holds a BA (2000) in English from Rice University and an MS (2003) in education and social policy from Northwestern University Ahmad Ghaddar and Noah Browning in London; editing by Jason Neely Reporting by Forrest Crellin and Benjamin Mallet; Editing by Silvia Aloisi and Mark Porter Strikes at French refineries looked likely to spread as Exxonmobil employees yesterday were called to join a protest at oil giant Total that has shut down seven plants and raised fears of supply cuts Total's management said they had started halting refining operations after unions extended their two-day strike to an unlimited action The CGT union then called for a one-day strike at the two refineries in France run by Exxonmobil citing similar restructuring proposals at Exxonmobil The Total strike yesterday affected seven of the company's 31 refineries which supply about half of France's filling stations Total insisted there was "at this stage no risk of a shortage" of fuel at the pumps The French Petroleum Industry Union said that the country's depots had up to three weeks' worth of fuel which is under pressure after announcing possible job cuts last month said there was "a hardening of the movement" since unions on Wednesday had only announced a two-day strike said however that "if the strike continues there will be tension in the Rhone-Alpes region (in southern France) in the coming days" since some oil depots were also on strike Employees on Thursday voted for "an unlimited strike at all the plants" in France The energy giant last month said it was studying a permanent closure of a refinery in Dunkirk which employs 370 people directly and 450 sub-contractors Total has come under pressure from the government to guarantee jobs after President Nicolas Sarkozy said that fighting unemployment was a priority please register for free or log in to your account.