Total Energies eliminates Canadian oil sands and increases production in a market with reduced prices

French oil and gas giant Total Energies announced on Thursday that it had accepted a $4.1 billion offer from Suncor Energy to buy its carbon-intensive Canadian oil sands operations. There could also be further payments of up to $450 million.

The corporation initially intended to spin off the business, but claimed that selling to Suncor would be a simpler process, and the price was equivalent to its own estimates for a corporate listi....