Total Share Discussion Threads

[ariane] 09/2/2021 08:24

The Board of Directors met on February 8, 2021, and decided to propose to the Shareholders' Meeting, which will be held on May 28, 2021, the distribution of a final dividend of 0.66 EUR/share for fiscal year 2020, stable compared to the three interim dividends paid for fiscal year 2020.



Given the three interim dividends of 0.66 EUR/share previously decided by the Board of Directors, the annual dividend for the fiscal year 2020 will amount to 2.64 EUR/share.



Subject to approval at the Shareholders' Meeting, this final dividend will be paid in cash exclusively, according to the following timetable:


Shareholders ADS holders
Ex-dividend date June 24, 2021 June 22, 2021
Payment date July 1(st) , 2021 July 16, 2021


About Total



Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.



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[waldron] 09/2/2021 08:06

Oil major Total’s full-year profit falls 66% as Covid pandemic hits fuel demand
Published Tue, Feb 9 20212:12 AM EST
Sam Meredith
@smeredith19
Share
An employee of the 'Total' oil refinery stands in front of a large tank with the company's logo in Leuna, Germany.
Waltraud Grubitzsch | picture alliance via Getty Images

LONDON — France's Total on Tuesday reported a massive drop in full-year profit, following a tumultuous 12 months in which commodity prices collapsed amid the coronavirus pandemic.

The energy major said full-year 2020 net profit came in at $4.06 billion, beating expectations of $3.86 billion, from analysts polled by Refinitiv. It compared with $11.8 billion for the 2019 fiscal year, reflecting a drop of 66% year-on-year.

Total also posted fourth-quarter net profit of $1.3 billion, beating analyst expectations of $1.1 billion.

Shares of Total are up around 0.8% year-to-date, having tumbled more than 28% last year.

The oil and gas industry was sent into a tailspin last year, as the coronavirus pandemic coincided with a historic demand shock, falling commodity prices, evaporating profits, unprecedented write-downs and tens of thousands of job cuts.

Last week, U.K.-based oil and gas major BP reported its first full-year net loss for a decade, while U.S. oil giant Exxon Mobil reported its fourth consecutive quarter of losses. The Anglo-Dutch oil giant Royal Dutch Shell also reported a sharp drop in full-year profits.

BP CEO Bernard Looney described 2020 as the "toughest" of his career, while Exxon Mobil CEO Darren Woods said the last 12 months "presented the most challenging market conditions Exxon Mobil has ever experienced."

Energy majors have warned that the ongoing coronavirus crisis is likely to continue to impact their performance in the near-term while seeking to reassure investors about their future profitability.

International benchmark Brent crude futures traded at $61.22 a barrel on Tuesday morning, around 1.1% higher, while U.S. West Texas Intermediate futures stood at $58.54, up almost 1%.

Brent prices surpassed $60 a barrel on Monday for the first time since Jan. 2020.

Oil prices have steadily improved in recent weeks, supported by ongoing production cuts and the mass rollout of Covid vaccines.
Growing pressure on Big Oil

Last month, Total became the first major global energy company to quit the American Petroleum Institute following a review of the influential oil and gas lobby.

Total said it had decided not to renew its membership with API this year, citing disagreements over climate policies and the group's support for easing drilling regulations.

The move was thought to represent a growing rift between oil and gas majors on either side of the Atlantic.

European oil and gas majors have generally been seen to be more willing to accelerate plans to cut carbon emissions in recent years, while U.S. peers such as Chevron and Exxon Mobil have resisted calls to diversify their portfolio.

It comes as the global oil and gas industry faces growing pressure from climate emergency campaigners, activist investors and policymakers around the world.

S&P Global ratings — one of the most influential rating companies — warned last month that it may cut the credit score on a number of major producers, including Total, Royal Dutch Shell and ExxonMobil.

The rating firm said it believes "the energy transition, price volatility, and weaker profitability are increasing risks for oil and gas producers."

[florenceorbis] 08/2/2021 08:50

Upcoming events on TOTAL SE


FEB/11/2021 FY 2020 Earnings Release (Projected)

[florenceorbis] 08/2/2021 08:32

Total SE said Monday that a joint venture with Green Investment Group has received seabed lease rights to develop an offshore wind project of up to 1.5 gigawatts.

The project would be based off the East Anglian coast of England, said the French energy giant.

Final lease agreements are expected to be signed in 2022, after the assessment of the project's effect on relevant nature conservation sites, said Total.

Green Investment Group is part of Australian financial services group Macquarie Group Ltd.



Write to Kim Richters at [e-mail]



(END) Dow Jones Newswires

February 08, 2021 02:54 ET (07:54 GMT)

[maywillow] 05/2/2021 10:26

Total SE said Friday that it has acquired a development pipeline of 2.2 gigawatts of solar projects and 600 megawatts of battery storage assets in Texas, U.S, from renewable energy company SunChase Power LLC and private investment firm MAP RE/ES.

The French oil-and-gas major said the pipeline includes four large-scale solar projects with battery energy storage systems. Construction of the first two projects should begin later this year, according to the company, and all projects are set to come online between 2023 and 2024.

The remuneration will be in the form of staged payments as the projects advance, Total said. No financial details were disclosed.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

February 05, 2021 04:15 ET (09:15 GMT)

[misca2] 04/2/2021 21:25

Shell must take 'hard look' at Nigeria assets, CEO van Beurden says
Feb. 04, 2021 2:58 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor8 Comments

Persistent incidents of pipeline sabotage and oil theft in Nigeria's Niger delta region have pushed Royal Dutch Shell (RDS.A -1.1%) to reconsider its position in the country, CEO Ben van Beurden says.
Nigeria is a "headache," and the lack of security in the Niger delta has prompted the company to "take a hard look" at its onshore assets there, van Beurden told today's earnings conference call.
Shell's onshore portfolio in Nigeria, which operates a joint venture with state-owned NNPC, Total and Eni, already has been sold down by ~50% over the past 10 years, the CEO noted.
The constant security and operational challenges in the Niger Delta have long held reputational and legal risks for Shell; just last week, the Hague Court of Appeal ordered the company to compensate three farmers there for damage caused by oil leaks in 2005.
"We believed the leak was caused by sabotage and the judge ruled that could not be proven beyond reasonable doubt, therefore we are liable for damages," van Beurden said.
Shell shares are lower after posting a Q4 loss but saying it expects a strong recovery of oil demand in H2.

[maywillow] 04/2/2021 13:05

LONDON -- Royal Dutch Shell PLC reported a fourth-quarter loss as it continued to grapple with the fallout of the pandemic but said it would raise its dividend, forecasting a recovery in demand later this year.

International oil companies are reporting one of their worst annual performances in decades after Covid-19 sapped demand for oil, hitting prices. In response, energy companies have slashed spending, cut jobs and written down the value of their assets.

Shell on Thursday reported a fourth-quarter loss on a net current-cost-of-supplies basis -- a figure similar to the net income that U.S. oil companies report -- of $4.5 billion, down from a profit of $871 million in the same period the previous year.

For the full year Shell reported a loss of $19.9 billion, from a profit of $15.3 billion in 2019. Shell's peers including Exxon Mobil Corp., Chevron Corp. and BP PLC also reported losses for 2020.

Shell said its profit was hit by a fall in oil and gas production and weak refining margins, as well as already flagged asset write-downs and charges related to onerous contracts.

Overall, Shell's full-year posttax write-downs totaled $21.3 billion, partly reflecting lower energy prices. That is part of a broader revision of asset values across the industry, triggered by the pandemic, which has been the steepest in at least a decade.

Shell said that while it was still feeling the impact of the pandemic with weaker energy demand, it had seen some signs of recovery in the fourth quarter and was optimistic about a continued rebound.

"I am optimistic that in the second half of the year we see a much more fulsome recovery," said Chief Executive Ben van Beurden. Oil demand is around 5% to 7% below the levels of 2019, but should return to those levels in 2022, as the aviation sector in particular recovers, he added.

Shell said it would raise its first-quarter dividend by 4%, in line with the commitment made to shareholders last year of annual increases, after cutting it in April for the first time since World War II by two-thirds.

"We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy," said Mr. van Beurden.

The company has said it would give an update next Thursday on its continuing restructuring and broader strategy to accelerate investments in low-carbon energy.

Rivals Total SE and BP have already laid out targets to increase renewable power generation, while reducing their dependence on fossil fuels.

The pivot to renewable energy comes as Shell and others in the industry are also seeking to reduce debt. Shell wants to cut its debt to $65 billion from $75.4 billion at the end of the fourth quarter. That is down from $79 billion a year ago after a number of asset sales.

Write to Sarah McFarlane at [e-mail]



(END) Dow Jones Newswires

February 04, 2021 07:44 ET (12:44 GMT)

[gibbs1] 03/2/2021 15:06

Adani-Total Gas reports record profit on cost optimisation

By: PTI | February 3, 2021 6:38 PM

The firm, which is a joint venture of infrastructure conglomerate Adani Group and French energy giant Total, sells gas sourced from domestic fields or imported in form of LNG to automobiles as CNG or as piped natural gas to industries and household kitchens.

The firm has signed a three-year deal to source LNG from the overseas market, he said without giving details.

Adani Total Gas Ltd on Wednesday reported a record net profit of Rs 145 crore in the December quarter on optimising cost both for input gas and operating expenses. Net profit of Rs 145 crore in October-December was 27 per cent higher than Rs 114 crore a year back, firm’s chief executive Suresh P Manglani said on a media call.

“This increase is mainly because of a significant decrease in operating cost and optimising gas sourcing portfolio that lowered the cost,” he said.



Goa's mining industry and the livelihood of lakhs of mining dependent population has been neglected in the last three years,'' GMPF President Puti Gaonkar said.

The firm, which is a joint venture of infrastructure conglomerate Adani Group and French energy giant Total, sells gas sourced from domestic fields or imported in form of LNG to automobiles as CNG or as piped natural gas to industries and household kitchens.

Manglani said the firm sources 48 per cent of its gas from domestic fields and the remaining is imported as liquefied natural gas (LNG).

The firm has signed a three-year deal to source LNG from the overseas market, he said without giving details.

The combined volume of CNG and PNG sales was 153 million cubic meters in the third quarter, slightly lower than 154 mmcm a year back.

“Average volume in Q3 increased to 1.67 million standard cubic meters per day as compared to the average volume of 1.43 mmsmd in Q2. This volume has reached 2 mmscmd this month,” he said. The company added 17 new CNG stations to take the total to 151 CNG stations in 10 geographical areas (GAs) in the country.

PNG home connection increased to 4.57 lakh (10,346 new connections added in Q3). Commercial and industrial connections now increased to 4,737. Revenue from the operation was up marginally at Rs 522 crore. “City gas stations expansion, pipeline work is going on in all the 15 GAs we have. Soon commercial operations in 5 GAs will start,” he said.

Also, the company has completed the acquisition of 5 per cent equity stake in India’s first fully automated gas exchange, Indian Gas Exchange Ltd (IGX).

Commenting on the financial result of the company, Gautam Adani, Chairman, Adani Group said, “I am witnessing the progress made by the combined synergies of Adani and Total. Our collective strengths will significantly contribute towards the creation of a gas-based economy. We are committed to taking this cleaner fuel across the nation in line with our vision to build a sustainable future.”

Manglani said the company has reported the second successive quarter of the highest ever financial performance with robust physical infrastructure growth despite an ongoing pandemic.

“We continue to pursue the strategy of expanding CGD Infrastructure on fast track mode. We are consistently encouraging society to convert their vehicles to environmental- friendly CNG and contribute in reducing the carbon footprint,” he added.

Financial Express

[waldron] 30/1/2021 11:03

the libya observer


NOC, Total discuss cooperation to develop new oil fields
January 30, 2021 - 11:52
Posted in:
Economy
Written By: SafaAlharathy

Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, has held discussions with the General Manager of Total regarding the use of renewable energies in the Libyan oil sector and the impact of lack of budgets on production, as well as development programs.

This meeting highlighted the implications of the lack of budgets and its effect on providing the urgent needs of maintenance and repair works.

The two parties also reviewed the plans to utilize renewable energy in some small fields as pilot projects. In this regard, the NOC requested Total to provide their experience in this field.

Other topics were on the table, including plans to expedite the development of fields in both "Al Waha" and "Al Mabrouk” companies, to achieve the highest levels of income, and support the national economy, according to the NOC.

[waldron] 29/1/2021 21:32

TOT vs. CVX: Which Stock Is the Better Value Option?
Contributor
Zacks Equity Research Zacks
Published
Jan 29, 2021 11:40AM EST



Investors looking for stocks in the Oil and Gas - Integrated - International sector might want to consider either TOTAL SE (TOT) or Chevron (CVX). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

TOTAL SE and Chevron are both sporting a Zacks Rank of # 1 (Strong Buy) right now. This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. But this is only part of the picture for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

TOT currently has a forward P/E ratio of 12.72, while CVX has a forward P/E of 25.10. We also note that TOT has a PEG ratio of 2.97. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. CVX currently has a PEG ratio of 5.02.

Another notable valuation metric for TOT is its P/B ratio of 1.09. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, CVX has a P/B of 1.25.

These are just a few of the metrics contributing to TOT's Value grade of B and CVX's Value grade of C.

Both TOT and CVX are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that TOT is the superior value option right now.
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[waldron] 27/1/2021 06:13

THE GUARDIAN


Rating agency S&P warns 13 oil and gas companies they risk downgrades as renewables pick up steam

Firms including Woodside, Chevron, Shell and Exxon Mobil, told they could be downgraded within weeks

Oil and gas companies have been told they could be downgraded between one and two notches as S&P increases risk rating for the entire sector.


Ben Butler
Wed 27 Jan 2021 02.02 GMT

Last modified on Wed 27 Jan 2021 02.22 GMT

167

Rating agency S&P has warned 13 oil and gas companies, including the some of the world’s biggest, that it may downgrade them within weeks because of increasing competition from renewable energy.

On notice of a possible downgrade are Australia’s Woodside Petroleum as well as multinationals Chevron, Exxon Mobil, Imperial Oil, Royal Dutch Shell, Shell Energy North America, Canadian Natural Resources, ConocoPhillips and French group Total.

S&P said it was also considering downgrading four large Chinese producers – China Petrochemical Corp, China Petroleum & Chemical Corp, China National Offshore Oil Corp and CNOOC.
Energy agency forecasts lower demand for oil as Covid cases surge


The rating agency said it had increased its risk rating for the entire oil and gas sector from “intermediate” to “moderately high” because due to the move away from fossil fuels, poor profitability and volatile prices.

It said it also had a negative outlook for two other big oil and gas companies, British multinational BP and Canadian group Suncor, but did not plan to immediately reassess their credit ratings.
Business Council of Australia backs Zali Steggall's climate change bill for 2050 net zero target


“In particular, we note significant challenges and uncertainties engendered by the energy transition, including market declines due to growth of renewables; pressures on profitability, specifically return on capital, as a result of high dollar capital investment levels over 2005-2015 and lower average oil and gas prices since 2014; and recent and potential oil and gas price volatility,” S&P said on Wednesday.

It said it did not plan to downgrade companies by more than one notch as a result of the risk to the industry as a whole.

“This said, we cannot exclude a combination of the industry risk revision and other material factors leading to a two-notch downgrade, especially given the potential for negative surprises after the Covid-19 impacts in 2020,” it said.

A two-notch downgrade would put Woodside at BBB-, which is one notch above a junk rating.

Woodside shares fell 3.25% on Wednesday morning.
BlackRock holds $85bn in coal despite pledge to sell fossil fuel shares
Read more

A lower credit rating can make it harder or more expensive for companies to borrow money. In particular, many fund managers will not invest in companies with a junk rating.

S&P’s move came after the world’s biggest funds manager, BlackRock, said it might dump shares in big greenhouse gas emitters in support of limiting global heating to 1.5C by 2050.

“I believe that the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has driven us to confront the global threat of climate change more forcefully and to consider how, like the pandemic, it will alter our lives,” BlackRock chief executive Larry Fink said in a letter to CEOs.

[grupo] 27/1/2021 05:27

Iraq’ Al-Kadhimi meets the head of French oil giant TOTAL
Economy
Al-Kadhimi
2021-01-26 21:40

Shafaq News / Iraq’ Prime Minister Mustafa Al-Kadhimi discussed, on Tuesday, with the head of French oil giant TOTAL, Patrick Pouyanne, the energy sector in Iraq.

"During the meeting, the two sides discussed ways to expand TOTAL’s investments in Iraq particularly in oil and gas of the energy sector, “A statement by Al-Kadhimi's office said.

Al-Kadhimi said that "the government is moving forward in preparing a safe environment for international investment companies, especially the French," noting that "this approach is an essential part of Iraq's policy."

For his part, Pouyanne expressed TOTAL’s desire for further cooperation with Iraq, especially after the improvement made by the current government which secure investment in Iraq."

[waldron] 27/1/2021 04:38

THE NARWHAL




Total’s Alberta oilsands writeoff is a wake-up call — not a cheap shot
CAPP and Jason Kenney’s government slammed Total’s decision as ‘hypocritical,’ but a look at the numbers shows why the French oil giant made the $9.3-billion decision

Aug 5, 2020
6 min read
By Mitchell Beer, publisher of The Energy Mix and president of Ottawa-based Smarter Shift.

The news broke in the last, ostensibly lazy week of July, and it sent a shockwave through the oilpatch: French fossil fuel giant Total was designating $9.3 billion in Alberta crude investments as stranded assets.

Citing high production costs and forecasting declining demand for oil, Total said it was writing off its $7.3-billion stake in the Fort Hills bitumen mine, a massive development capable of processing 14,500 tonnes of oil sand per hour.

Total also dropped its 50 per cent share in the Surmont bitumen recovery project, a joint effort with ConocoPhillips Canada that was busy doubling its output as recently as 2016. For good measure, Total dropped its membership in the Canadian Association of Petroleum Producers.

The reaction from the oil lobby and its allies in the Alberta government was swift, fierce and entirely predictable.

“I think it’s somewhat virtue signaling that there is an orchestrated campaign globally against Canada and this is a visible action they can take to wage some of that pressure,” Canadian Association of Petroleum Producers president and CEO Tim McMillan told BNN Bloomberg.

Alberta Energy Minister and former pipeline executive Sonya Savage agreed. “At the same time Total is dismissing the leadership of Canadian producers who are doing their part with active strategies that have reduced emissions, they continue to invest in countries such as Myanmar, Nigeria and Russia,” she said. “This highly hypocritical decision comes at a time where international energy companies should, in fact, be increasing their investment in Alberta.”



Indeed, it isn’t as though Total, France’s biggest company and one of the world’s seven fossil “supermajors,” is suddenly embracing a rapid transition off carbon. That surely wasn’t the tone in mid-July, when Total sealed the deal on a US$20 billion LNG project in Mozambique, Africa’s biggest project investment ever.

“The signing of this large-scale project financing, less than one year after Total assumed the role of operator of Mozambique LNG, represents a significant achievement and a major milestone for the project,” said CFO Jean-Pierre Sbraire. “It demonstrates the confidence placed by financial institutions in the long-term future of LNG in Mozambique.”

Friends of the Earth International declared the project “a windfall for the industry, a curse for the country.”

The fallback assumption among Canada’s political class is that companies like Total, Deutsche Bank, and Zurich Insurance Group are just out to get Alberta, falling prey to the supposed foreign-funded radicals whose influence Premier Jason Kenney’s government is now apparently having trouble tracking down.

“If you can picture the portfolio manager at the end of his long table in New York or London or Zurich or wherever, looking down at his juniors and saying ‘What are we doing about climate change? Well, we’re writing off investments in Canadian oil and gas,’ ” Natural Resource Minister Seamus O’Regan told The Globe and Mail last month. “And the box is checked.”

But what if the rest of the world is reading the numbers while elected officials in Ottawa and Alberta cling desperately to their own spin? What if there’s no virtue signalling or hypocrisy in Total’s decision, just a hard-nosed business assessment?

After all, Total is far from alone: in May, Fort Hills co-owners Suncor and Teck wrote down their own oilsands investments by $1.38 billion and $474 million, respectively, The Canadian Press reported. The facility was expected to operate for about half a century when it opened less than three years ago.

Contrast the triumphant tone of Total’s Mozambique release with the bean counter dryness of its Alberta announcement.

“The weakness of investments in the hydrocarbon sector since 2015, accentuated by the health and economic crisis of 2020, will result by 2025 in insufficient worldwide production capacities and rebound in prices,” the company wrote. “Beyond 2030, given technological developments, particularly in the transportation sector, Total anticipates oil demand will have reached its peak.”

With those factors in mind, along with the company’s own 2050 carbon neutral pledge, “Total has reviewed its oil assets that can be qualified as ‘stranded̵7;, meaning with reserves beyond 20 years and high production costs,” the release continued. “The only projects identified in this category are the Canadian oil sands projects Fort Hills and Surmont.”

In other words: nothing political to see here, folks. Just listening to the evidence and following where it leads.

But in Alberta, where everything fossil-related is hyper-political, that kind of analysis leaves both major parties in a serious bind. They’re caught between their own overheated support for an expanded oilsands industry and a global economic reality that is driving down the province’s fossil economy, triggering huge cuts in health and community services that depend on it, and now threatening to eviscerate rural municipalities’; tax base.

Along the way, the Kenney government is utterly ignoring the 67,200 green economy jobs the province could tap into by 2030, including urgently-needed energy efficiency work that would deliver $2 billion in energy savings and carbon reductions. Instead of keeping faith with voters who largely supported the province’s solar and energy efficiency programs, the government shuttered its energy efficiency agency in June, returning Alberta to its previous status as the only North American jurisdiction without a functioning program. Its recently-announced economic diversification strategy is long on spin, generous with corporate tax cuts and short on detail.

In other parts of Canada, it has become fashionable to respond to Alberta’s desperate straits from one of two, increasingly polarized extremes: by holding ever tighter to an oil industry that is entering its sunset or gloating from a distance at a province that can’t seem to let go. Neither approach is particularly helpful for households and small businesses that are bearing the brunt of their leaders’ political and economic malpractice.

Kenney’s basic strategy — curse the fates and blame political opponents, real or imagined — might look like a winner. As a way to mobilize his political base and drive wedge-issue voters, it could work for some time to come. But it won’t deliver the jobs Albertans need, the strong economy they’ve come to expect or the greenhouse gas reductions their future (and everyone else’s) depends on.

Alberta’s politicians have the option of taking an announcement like Total’s as a wake-up call, rather than a cheap shot. They’ll be failing their constituents until they start getting that judgement call right.

[waldron] 26/1/2021 08:02

Total gets fastest start on clean energy among Europe oil majors

Laura Hurst and Francois de Beaupuy, Bloomberg Published 5:30 pm CST, Monday, January 25, 2021


While Total was the last one to announce the shift to renewables, it has since covered the most ground.

Total SE has had the fastest start in the race between oil supermajors to achieve net-zero carbon emissions.

Europe’s three largest oil and gas companies -- Total, BP Plc and Royal Dutch Shell Plc -- all announced plans last year to eliminate most greenhouse gas emissions from their operations and the fuels they sell in the coming decades. It marked a turning point for the petroleum industry in the region, and heightened its divergence from U.S. majors that have yet to make such pledges.

While the French company was the last one to announce the shift, it has since covered the most ground. Total has acquired the most renewable electricity for its portfolio -- about 8.8 gigawatts in operation, construction or development -- through acquisitions such as its $2.5 billion deal with Indian renewable firm Adani Green Energy Ltd., according to data compiled by Bloomberg.

“Total has been a relative early mover among oil majors in preparing for the energy transition,” said Bloomberg Intelligence analyst Will Hares. “It holds the most renewable-power capacity installed or in development of any oil major, and the most ambitious capacity-growth targets.”

The French company also has the highest overall Carbon Transition Score of any integrated oil company in Bloomberg Intelligence’s rankings. Total has a rating of 9.33 out of 10, compared with 8.4 for BP and 6.6 for Shell.

SHINING ON TEXAS: Total joint venture to develop 12 solar projects across U.S.

BP, which was the first of the three companies to offer a net-zero target in February 2020, has bought into 2.2 gigawatts of offshore wind power in development in a $1.1 billion deal with Equinor ASA. The London-based company also has an established 16-gigawatt portfolio of solar projects in operation or development through the Lightsource BP, which was formed in 2017.

Shell is the only member of the trio not to have made a multibillion-dollar clean-energy deal since announcing its net-zero target in April. The Anglo-Dutch company has made smaller investments from hydrogen refueling infrastructure in California to a waste-to-fuels plant in Canada.

All three companies have announced numerous smaller deals for which they didn’t disclose a value, ranging from electric car charging networks to producers of biogas.

Pledges for lots of upfront spending on clean energy capacity has been met with skepticism by some investors, who worry that returns from renewables won’t match those of oil and gas projects do. Even Total’s own Chief Executive Officer Patrick Pouyanne warned of a “bubble” in renewables if there is too much money chasing too few low-carbon projects.

[misca2] 25/1/2021 12:35

TOTAL SE (Paris:FP) (LSE:TTA) (NYSE:TOT):



NOTICE IS HEREBY GIVEN that, pursuant to Condition 6.2 (Optional Redemption) of the terms and conditions of the Euro 2,500,000,000 Undated Non-Call 6 Year Deeply Subordinated Fixed Rate Resettable Notes (the "Notes") issued on 26 February 2015 by TOTAL SE (formerly TOTAL S.A., incorporated as a European Company (societas europaea) registered in the Republic of France, under RCS 542 051 180 Nanterre) (the "Issuer") under its EUR23,000,000,000 Euro Medium Term Note Programme described in the prospectus dated 24 February 2015 (the "Prospectus"), the Issuer hereby elects to redeem all of the Notes outstanding on the Redemption Date (as defined below) in an aggregate principal amount of EUR296,687,000 (the "Redeemed Notes") on 26 February 2021 (the "Redemption Date"). This notice is irrevocable. Capitalized terms used herein and not defined are used as defined in the Prospectus.



The redemption price of the Redeemed Notes is equal to their principal amount, which is issued in denominations of EUR100,000, together with any accrued interest and Arrears of Interest (including any Additional Interest Amounts thereon), if any, on the Redeemed Notes, from 26 February 2020 to, but excluding, the Redemption Date (the "Redemption Price"). The Redemption Price amounts to EUR102,250.00 per EUR100,000 denomination.



Upon the Redemption Date, the Redeemed Notes will forthwith be cancelled.



The ISIN and Common Code numbers are included herein solely for the convenience of the registered owners of the Notes. No representation is made as to the correctness or accuracy of the ISIN or Common Code numbers either as printed on the Notes or as contained herein. Any redemption of the Notes shall not be affected by any defect in or omission of such identification numbers.



View source version on businesswire.com:

[florenceorbis] 23/1/2021 10:53

Upcoming events on TOTAL SE


FEB/11/2021 FY 2020 Earnings Release (Projected)