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Market Chatter: TotalEnergies Draws Backlash Over Alleged Staff Protection Failure in 2021 Mozambique Incident

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TotalEnergies (TTE.PA, TTE.L) is under fire for allegedly failing to protect a subcontractor at its liquefied natural gas project in Mozambique, London's Financial Times reported Sunday.

The backlash is related to a 2021 attack in the area by Islamist insurgents. The French energy company was accused of not providing enough security to its staff for the project, which led to casualties.

TotalEnergies did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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North Sea Oil Premiums Hit Records As Saudi Sales Shift

North Sea oil premiums surged to record levels as Saudi Arabia cuts sales to Europe following the shutdown of its East-West pipeline, forcing refiners to seek alternatives amid soaring fuel prices, Bloomberg reported Friday.Norway's Johan Sverdrup crude was offered at a premium of as much as $35 a barrel above Dated Brent this week, up from a 60-cent premium on Sept. 8, traders said, according to the report.Saudi Aramco told European customers Friday they would not receive supplies under long-term agreements next month as the company seeks to increase shipments through the Strait of Hormuz, Bloomberg reported.

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S&P 500 Posts Slight Weekly Decline as Utilities Weigh

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Equities

Correction: Market Chatter: Saudi Aramco May Cut Crude Oil Supply to European Refiners After Pipeline Attacks

(Corrects to remove company names not mentioned in source article.)European refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.Saudi Aramco didn't immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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