CERAWEEK-US, TotalEnergies to shift $1 billion from wind to oil and gas

ReutersMar 23, 2026 3:32 PM

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HOUSTON, March 23 (Reuters) - The United States and French energy major TotalEnergies TTEF.PA announced on Monday they would redirect nearly $1 billion from offshore wind leases to U.S. oil and natural gas production.

The United States will reimburse Total around $1 billion the company paid in lease purchases for offshore wind, and TotalEnergies has pledged not to develop any new offshore wind projects in the United States.

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