![\"U.S.](\"https:\/\/www.europesays.com\/france\/wp-content\/uploads\/2026\/05\/Image-2026-03-23T143343.660-1000x750.jpg\")
U.S. Secretary of the Interior Doug Burgum addresses reporters at CERAWeek by S&P Global on Monday, March 23, 2026.<\/p>\n\t\t\t\t\tU.S. Secretary of the Interior Doug Burgum addresses reporters at CERAWeek by S&P Global on Monday, March 23, 2026.<\/p>\n
TotalEnergies, a French company with U.S. headquarters in Houston, announced Monday it will terminate offshore wind projects valued at about $1 billion and invest that money in oil and gas projects, including in Texas.<\/p>\n
The company’s CEO, Patrick Pouyann\u00e9, and U.S. Secretary of the Interior Doug Burgum made the announcement during a press briefing on the first day of CERAWeek by S&P Global, an international energy conference held annually in Houston.<\/p>\n
“With this agreement, we’re allowing this great company to redirect those dollars that have been paid in the treasury to affordable, reliable and secure oil and natural gas production in the U.S.,” Burgum said. <\/p>\n
Sign up for the Hello, Houston!<\/a> daily newsletter to get local reports like this delivered directly to your inbox.<\/p>\n The announcement comes as the Trump administration continues to deprioritize renewable energy sources<\/a> and emphasize fossil fuels. The federal government will terminate TotalEnergies\u2019 offshore wind leases and reimburse the company so it can reinvest money in oil and gas.<\/p>\n RELATED: Protesters march in downtown Houston to oppose CERAWeek on first day of 2026 energy conference<\/a><\/p>\n “We are dedicated to continue to invest in the country, in the U.S. … but it’s better to allocate our capital to the most efficient way,” Pouyann\u00e9 said.<\/p>\n TotalEnergies will invest $928 million in “upstream conventional oil” in the Gulf and shale production as well as the development of the Rio Grande LNG plant in Brownsville.<\/p>\n RELATED: New South Texas refinery could bring jobs \u2014 and environmental risks<\/a><\/p>\n More than 10,000 people are gathered in downtown Houston for CERAWeek, which brings together top energy executives and government officials<\/a> from around the world. The conference this year has been dominated by conversations about disruptions to the energy market amidst the war in Iran<\/a>, and the growing electricity demand generated by the growth of artificial intelligence data centers<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"U.S. Secretary of the Interior Doug Burgum addresses reporters at CERAWeek by S&P Global on Monday, March 23,…\n","protected":false},"author":2,"featured_media":23494,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12699],"tags":[91,17314,7798,14134,17313,2303,3309,157,6,1733,371,17315,5726],"class_list":["post-23493","post","type-post","status-publish","format-standard","has-post-thumbnail","category-totalenergies","tag-business","tag-ceraweek","tag-development","tag-doug-burgum","tag-energy-environment","tag-houston","tag-infrastructure","tag-local","tag-news","tag-offshore-wind","tag-oil-and-gas-industry","tag-rio-grande-lng","tag-totalenergies"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/23493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=23493"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/23493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/23494"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=23493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=23493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=23493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}