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Oil giants TotalEnergies, Equinor reduce low-carbon investments
Oil giants TotalEnergies, Equinor reduce low-carbon investments

French oil and gas giant TotalEnergies said Wednesday it would reduce its low-carbon energy investments while Norwegian peer Equinor scaled back its renewables ambitions as the companies reported sharp drops in annual profits. TotalEnergies said Wednesday it would reduce its investments in low-carbon energy, mainly for electricity, by $500 million -- from $5 billion to $4.5 billion.