TotalEnergies pauses business with Adani, says it was not aware of US investigationFrench oil major TotalEnergies was not informed of a US investigation into possible bribery and corruption at Adani Green Energy Limited, it said on Monday, adding it will stop financial contributions to investments with Adani Group companies following last week’s US federal indictment. “TotalEnergies was not made aware of the existence of an investigation into the alleged corruption scheme,” the company added. US prosecutors on Thursday charged eight people – including Indian tycoon Gautam Adani, his nephew Sagar Adani and the former CEO of Adani Green Energy Limited — with promising and then making improper payments to Indian officials between July 2021 and 2024 for business advantages. Total also owns a 37.4 percent stake in Adani Total Gas Limited, as well as a 50 percent stake in three renewable joint ventures with Adani Green Energy. Two of those joint ventures were entered into after the FBI served search warrants on Sagar Adani and seized evidence related to Adani Green Energy.

Source: Daily Nation November 25, 2024 18:21 UTC