Posted by John Donovan: 7 May 2024
Oh, the drama! TotalEnergies and Shell, those titans of the oil industry, are having a little daydream about moving their stock listings to the flashy stages of Wall Street. Why, you ask? Their current market valuations are as deflated as a punctured oil barrel. Boo-hoo.
In a tragic tale of European neglect and American allure, these two energy behemoths are feeling undervalued back home—kind of like ageing movie stars pining for one last blockbuster. TotalEnergies, the belle of France, is so distraught that even Patrick Pouyanné, the CEO, is openly mulling over a move. He confessed in an earnings call, “There was a discussion with the board.” Yes, folks, they’re “seriously looking at it” because, let’s face it, America is where the big-money parties are.