TotalEnergies Announces Staggering Q2 Profits of US$5.7 Billion Under a Carbon Cloud

The oil giant is responsible for some of the most destructive fossil fuel projects on the planet, including the controversial East African Crude Oil Pipeline and fracking across Vaca Muerta, Argentina. This announcement shines a spotlight on the moral bankruptcy and danger posed by oil majors – these corporations are ruthlessly profiteering off war in Ukraine, at a time when tens of millions of people are currently suffering from the combined impacts of the climate crisis and the cost of living scandal.

Despite European governments calling for an end to fossil fuel expansion in the global South and the International Energy Agency demanding an end to new fossil fuel investments, Total is currently leading a dash for gas in Africa, recently securing billion dollar deals in Algeria and South Africa to extract and burn more fossil fuels from the continent. Total’s planned operations will be devastating for people and the planet – their actions will benefit a handful of wealthy shareholders at huge cost to local communities and the climate.

“As Total declares massive profits, people in Africa are fighting for their homes and lives following displacement by the oil major, as it seeks expansion of its fossil fuel projects. What’s even worse is the struggle for most Africans to turn the tide against climate change which has severely impacted their lives and livelihoods. Meanwhile, Total makes vague promises of job creation in the oil and gas sector while it causes significant job losses in the agricultural and tourism sector. Total’s business has no place in Africa; the future the world needs is one that no longer burns fossil fuels,” said Charity Migwi, Africa Regional Campaigner –

Author: Bryan Groenendaal


Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.