TotalEnergies has not yet signed a contract announced last year to extend its partnership with India's Adani to the production of green hydrogen, the chief executive of the French oil major said on Wednesday.
Patrick Pouyanne told reporters the company was waiting for the result of an audit launched by the Indian conglomerate in response to allegations of financial irregularities by Hindenburg Research.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
"It was announced, nothing was signed. It doesn't exist," Pouyanne said, referring to the new hydrogen venture. "Mr Adani has other things to deal with now, it's just good sense to pause things while the audit goes forward."
Patrick Pouyanne said TotalEnergies was "not in charge" of the financial health of Adani group, with whom it has a number of joint-ventures.
He said the stakes held by TotalEnergies in Adani Total Gas and Adani Green Energy were still worth more than when the French company purchased them.
"Adani Green is still worth twice as much as we invested, Adani Gas is still worth eight times more. Our accounting is healthy, there was due diligence before and due diligence after," he said.
He added that Adani had not requested financial support from TotalEnergies for existing projects.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.