Total Share Discussion Threads

[sarkasm] 10/12/2020 05:51

3 Great Reasons to Buy This Oil Giant Despite Investor Fears
Investors seem to think that oil is dead, but that's not true. Here's a great way to invest in this out-of-favor sector.
Reuben Gregg Brewer
Reuben Gregg Brewer
(TMFReubenGBrewer)
Dec 9, 2020 at 9:04AM
Author Bio

The world is shifting away from carbon fuels and toward clean energy sources like solar and wind. That isn't in dispute, but it isn't the whole story, either. While clean energy is growing, oil and natural gas are still vital and necessary. That's exactly why France's Total (NYSE:TOT), and its fat 7% dividend yield, could be one of the best options for investors in the energy patch. Here's what you need to understand.
1. Oil is not dead

Even the most aggressive clean energy projections out there recognize that oil and natural gas are going to remain important to the world's energy markets for decades to come. The logic isn't complicated, either. You can't simply replace the current infrastructure overnight -- it will take time. ExxonMobil (NYSE:XOM), for example, has highlighted that it took 100 years for oil to displace coal as the biggest player in energy. While this transition may be quicker, there's still a long way to go before carbon fuels are dead.
A man turning valves on an energy pipeline.

Image source: Getty Images.

In fact, natural gas demand is expected to remain fairly strong even as oil demand declines because the cleaner burning fuel is being used to help the transition toward the low carbon future. Total is committed to its oil and natural gas businesses, looking to focus on its lowest-cost opportunities so it can compete even if energy prices remain low. This is important, because the company has stressed multiple times that it believes its dividend is sustainable even if oil prices average around $40 a barrel. Meanwhile, natural gas is expected to take on a more prominent role in the company's energy mix over the next decade (growing from 45% to 50% of sales) as Total looks to provide the world with the energy it wants most.
2. More than carbon

As natural gas is growing in importance at Total, oil will be decreasing, dropping from 50% of sales to 35%. Making up the balance will be the company's "electrons" business, which will expand from 5% of sales to 15%. This isn't a new business shift, either -- Total has been investing in clean energy and electricity assets for some time now. That includes things like solar and wind power, electric vehicle charging stations, and even European utility assets. The key is that Total is using its cash cow energy business to fund its growth into the "electrons" space.

Adding to the allure here is the fact that this trend hasn't slowed down because of the global pandemic. As noted above, Total is very comfortable with oil hovering at relatively low levels while it continues to change along with the times. A key factor in that is its balance sheet. While long-term debt comes in at around $61.5 billion, the company also has roughly $30.5 billion in cash on hand. Total pegs its net debt to capital ratio at a fairly modest 22%. When you look at that number, there's little reason to fear that Total won't be able to adapt with the world around it.
3. Out of sight, out of mind

But why Total over other integrated energy giants? For starters, it has stated a willingness to hold the line on its dividend while it shifts toward clean energy. Peers BP and Royal Dutch Shell both cut their dividends when they announced similar transition plans. Second, Exxon and Chevron have both made clear that they are going to be sticking to oil for now. Total is taking a more middle-of-the-road approach, which, as you might expect, hasn't garnered it much attention. And third, the real point here, Total's business is light on the Americas. In fact, the Americas, which includes North, Central, and South America, make up just about 12% of Total's production, and 23% of its petroleum product sales.

TOT Chart

TOT data by YCharts

So as a new administration comes into the White House openly calling for curtailments in U.S. energy production, there's little risk that Total's business will be materially disrupted. Its business in Europe, Asia, the Middle East, and Africa provide ample diversification. Moreover, it will avoid much of the headline risk that its U.S. peers will likely face.

In fact, Total doesn't make headlines very often at all in the United States. Not being a big name in the U.S. market is a part of that, but so too is its kind of boring plan to shift slowly toward clean energy. As the U.S. media decries the evils of oil giants like Chevron and Exxon, and the investment world focuses on the recent dividend cuts at BP and Shell, Total looks like a forgotten stepchild. That makes it a little easier to own, since you don't have to deal with the negative press.



More than three

This list of three reasons to like Total is really more like six or seven reasons shoved into three broad boxes. To boil it down, though, Total is quietly going about running its diversified "cash cow" energy business in a way that should both support its generous dividend and fund a slow and steady transition toward clean energy. If you don't mind collecting a 7% dividend yield while it executes this plan, even if it doesn't get many accolades for its efforts, Total could be a great option for you.

[waldron] 09/12/2020 14:28

OFFSHORE ENERGY


Total boasts positive test results from South African well

Exploration & Production

December 9, 2020, by Nermina Kulovic

French oil major Total has carried out a drill stem test at its Luiperd-1X well, the second major discovery on Block 11B/12B offshore South Africa, and delivered positive test results that show high condensate yield and excellent reservoir connectivity.

To remind, Total started drilling the Luiperd-1X well in late August 2020, following the arrival of the Deepsea Stavanger drilling rig from Norway to South Africa.

The Luiperd well was drilled to a total depth of about 3,400 meters and encountered 73 meters of net gas condensate pay in well-developed good quality Lower Cretaceous reservoirs.

This significant gas condensate discovery on the Luiperd prospect was announced in late October 2020.
Total boasts second ‘significant discovery’ off South Africa


Africa Energy, one of Total’s partners in the block, on Monday announced the results of the drill stem test for the Luiperd-1X well.

The company said that the Luiperd-1X well was opened to flow on 1 November 2020.

After several tests at different choke settings, the well reached a maximum constrained flowrate through a 58/64″ choke of 33 million cubic feet per day of natural gas (MMcfpd) and 4,320 barrels of condensate per day (bcpd), an aggregate of approximately 9,820 barrels of oil equivalent per day (boepd).

According to Africa Energy, the choke configuration could not be increased due to surface equipment limitations. The absolute open flow (AOF) potential of the well is expected to be significantly higher than the restricted test rates.

Jan Maier, Africa Energy’s VP Exploration, commented, “The Luiperd discovery proves that the Outeniqua Basin offshore South Africa is a world-class hydrocarbon province that remains highly under-explored. Luiperd-1X intersected 85 meters gross sands of which 73 meters is net good quality pay in the main target interval and thicker than prognosed.

“The well reached a total depth of approximately 3,400 meters on October 12, 2020, at which point the drill stem testing program was initiated. We are very pleased with the positive test results that show high condensate yield and excellent reservoir connectivity. These results confirm the joint venture’s decision to proceed with development studies and to engage authorities about commercialization221;.

Block 11B/12B is located in the Outeniqua Basin 175 kilometres off the southern coast of South Africa. The block covers an area of approximately 19,000 square kilometres with water depths ranging from 200 to 1,800 meters.

The Paddavissie Fairway in the southwest corner of the block now includes both the Brulpadda and Luiperd discoveries, confirming the prolific petroleum system.

The original five submarine fan prospects in the fairway all have direct hydrocarbon indicators recorded on both 2D and 3D seismic data and intersected in the wells, significantly de-risking future exploration.

Africa Energy holds a 49 per cent of the shares in Main Street 1549 Proprietary Limited, which has a 10 per cent participating interest in Block 11B/12B.

Total E&P South Africa B.V. is the operator and has a 45 per cent participating interest in Block 11B/12B.

[sarkasm] 09/12/2020 06:59

Total: Berenberg is moving from buy to hold with an increased target price of EUR 36 to EUR 41.

[sarkasm] 07/12/2020 07:22

RNS Number : 6783H

Tullow Oil PLC

07 December 2020

News Release

Tullow receives licence extensions in Kenya

7 December 2020 - Tullow Oil plc ("Tullow") is pleased to announce that Tullow and its Joint Venture partners have received extensions to their exploration licences for Blocks 10BB and 13T in Kenya to the end of 2021. This follows the approval of the work programme and budget for next year by the Ministry of Mines and Petroleum.

As announced at the Group's recent Capital Markets Day, the licence extensions will allow the Joint Venture partners to re-assess Project Oil Kenya and design an economic project at low oil prices whilst preserving the phased development concept. In parallel, over the coming months, the Joint Venture partners will work closely with the Government of Kenya on land and water agreements, gaining approval of the Environmental and Social Impact Assessments and finalising the commercial framework for the project. The successful completion of this work will enable the submission of Field Development Plans to the Government of Kenya.

Rahul Dhir, Chief Executive Officer of Tullow Oil Plc, commented today:

"I would like to thank the Government of Kenya for granting this extension which the Joint Venture partners will use to fully re-assess the development concept for this important project."

[grupo guitarlumber] 06/12/2020 10:21

January/04/2021 Ex-dividend day for quarterly dividend


Upcoming events on TOTAL SE


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

MARCH/25/2021 Ex-dividend day for quarterly dividend

APRIL/29/2021 Q1 2021 Earnings Release (Projected)

[sarkasm] 06/12/2020 09:33

Why The World Can’t Quit Fossil Fuels
By Haley Zaremba - Dec 05, 2020, 5:00 PM CST
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Have the recent pronouncements of the death of oil and reigning renewables been more rhetoric than reality? Yes and no. It’s true that peak oil is now closer than ever, and globally we’re seeing a more earnest effort to decarbonize than ever before, in large part thanks to green stimulus packages for post-COVID economic recovery. But for all of the advances that green energy is making around the world, it’s just not enough to achieve the kind of greenhouse gas emissions reductions necessary to curb the impact of climate change. In fact, it’s not even close. This week Axios reported on the “chasm between CO2 goals and energy production,” saying that “projected and planned levels of global oil, natural gas and coal production are way out of step with the kind of emissions cuts needed to hold global warming significantly in check.” This reporting is based on a brand new study. The second annual “Production Gap Report” is the continuation of a project developed in collaboration with the United Nations Environment Programme (UNEP). The 2020 report was put together by the UN, the Stockholm Environment Institute, the International Institute for Sustainable Development, the Overseas Development Institute and the climate think tank E3G.

The purpose of the report, which is modelled after and alongside UNEP’s Emissions Gap Reports is to synthesize and communicate “the large discrepancy between countries’ planned fossil fuel production and the global production levels necessary to limit warming to 1.5°C and 2°C.” And, as it turns out, that discrepancy is still quite large, even after the COVID-19 pandemic took a huge bite out of fossil fuel demand and the oil and gas industry as a whole.

Related: UAE Oil Is A Vital Geopolitical Weapon Against China's Middle East Expansion

The report calculates the emissions that will be released from fuel combustion over the next calendar year based on projections and extrapolations of all the countries of the worlds’ planned and estimated fossil fuel extraction. The prognosis is grim. While meeting the Paris climate accord goal of limiting and maintaining long-term global warming to just 1.5° Celsius over pre-industrial temperature averages would require the global community to reduce fossil fuel production by a full 6 percent each year over the course of the next decade, right now most countries are reaching toward a reduction goal of just 2 percent--less than half of what is needed. Despite the fact that all 196 members of the United Nations Framework Convention on Climate Change (UNFCCC) signed onto the Paris Agreement, according to the 2020 Production Gap report, "countries are instead planning and projecting an average annual increase of 2 percent, which by 2030 would result in more than double the production consistent with the 1.5°C limit."

While the world is heading in the right direction overall to bring down greenhouse gas emissions on the eve of catastrophic climate change, it simply isn’t doing so with enough urgency. For example, while coal has had an especially rough year and seems to be on its very last legs as an industry, it would need to see a whopping 11 percent production cut every year until 2030 to comply with the 1.5°C pathway. It’s hard to see that happening when countries like China are falling back on coal in times of economic and energy insecurity.

Similarly, while OPEC+ is mulling over the idea of extending production cuts to keep oil prices afloat during this extended oil demand downturn, it would be shortsighted and naive to think that means the end of oil is upon us. While we may very well be living in the era of peak oil, that is a far cry from seeing a 6 percent annual decrease of the fuel that still overwhelmingly powers the global economy.

Ultimately, in spite of all the lofty rhetoric, “the pandemic-related production declines this year won't lead to the long-term changes needed to get on track toward those temperature targets.” For that we need human intervention and intentional economic and political restructuring, not just viral disruption.

By Haley Zaremba for Oilprice.com

[grupo] 05/12/2020 06:22

France’s Total Looks To Sell Its Stake In Kurdistan Oilfield
By Charles Kennedy - Dec 04, 2020, 4:30 PM CST

France’s supermajor Total is in talks to sell its 18-percent stake in an oilfield in Iraq’s semi-autonomous region of Kurdistan, with which it could raise around $500 million, Bloomberg reported on Friday, quoting sources with knowledge of the plans.

Total is working with Jefferies Group on the potential sale of its stake in the Sarsang exploration block in northern Iraqi Kurdistan, which is operated by HKN Energy, a subsidiary of Dallas-based Hillwood International Energy.

Total is looking to divest assets as it weathering this year’s oil price downturn and is preparing for the future of low-carbon energy. Total ended up with the stake in the Sarsang block after buying Maersk Oil, for which the block in the Iraqi region was a key asset.

According to Bloomberg’s sources, talks are ongoing, and no final decision on a sale has been taken yet.

While looking to sell non-core assets, Total aims to reduce emissions and become a broad energy company, like all European majors.

Total looks to grow its energy production by one third, with half the growth coming from LNG and half from electricity, mainly from renewables.

Total’s chief executive Patrick Pouyanné told French newspaper Le Parisien in September that the firm aims to be among the world’s top five producers of renewable energy. The company’s operations mix today is 55 percent oil, 40 percent gas, and less than 5 percent electricity from renewables, Pouyanné said, noting that in 2050, Total’s operations will be divided into 20 percent oil, 40 percent gas, and 40 percent renewable energy.

Pouyanné said last week that strict investment discipline would be vital for keeping up with a 2 degree Celsius pathway.

“Our focus is on projects that can withstand low oil prices and higher carbon costs. It’s the best way to protect against the risk of stranded assets,” the executive said.

By Charles Kennedy for Oilprice.com

[waldron] 04/12/2020 18:00

Brent Crude Oil NYMEX 48.99 +0.57%
Gasoline NYMEX 1.27 +0.37%
Natural Gas NYMEX 2.50 +2.54%
WTI 45.87 USD +0.45%


FTSE 100
6,550.23 +0.92%
Dow Jones
30,137.55 +0.56%
CAC 40
5,609.15 +0.62%
SBF 120
4,436.26 +0.66%
Euro STOXX 50
3,539.27 +0.58%
DAX
13,298.96 +0.35%
Ftse Mib
22,160.57 +0.70%



Eni
8.744 +3.45%


Total
37.69 +3.36%


Engie
12.5 -0.68%

Orange
10.545 +0.72%



Bp
276.95 +3.92%

Vodafone
130.16 +2.36%

Royal Dutch Shell A
1,402.4 +3.39%



Royal Dutch Shell B
1,351.4 +3.21%


Tullow Oil (TLW)
34.13: 2.56 (8.11%)

[la forge] 02/12/2020 08:29

Total : J.P. Morgan passe de surpondérer à neutre en visant 44 EUR.

[grupo] 02/12/2020 07:38

EDP Completes Sale of EUR480 Million Portfolio to Total
02/12/2020 6:37am
Dow Jones News

Total (EU:FP)
Intraday Stock Chart


Wednesday 2 December 2020
Click Here for more Total Charts.

By Olivia Bugault



Portuguese utility EDP-Energias de Portugal SA said late Tuesday that it has completed the sale of its portfolio of thermal assets and supply clients to Total SE for an enterprise value of 480 million euros ($579.4 million).

"The portfolio sold comprises the two [gas-fired combined cycle] power plants with 843 megawatts of installed capacity and the business-to-consumer supply business in Spain, which includes 1.2 million clients in the free market," the company said.

The sale was first announced in May.



Write to Olivia Bugault at [e-mail]



(END) Dow Jones Newswires

December 02, 2020 01:22 ET (06:22 GMT)

[waldron] 30/11/2020 17:41

Brent Crude Oil NYMEX 47.36 -1.84%
Gasoline NYMEX 1.23 -2.56%
Natural Gas NYMEX 2.90 +1.83%
WTI 44.845 USD -0.69%


FTSE 100
6,266.19 -1.59%
Dow Jones
29,564.16 -1.16%
CAC 40
5,575.16 -0.41%
SBF 120
4,408.75 -0.44%
Euro STOXX 50
3,492.54 -1.24%
DAX
13,291.16 -0.33%
Ftse Mib
22,191.88 -0.72%



Eni
8.303 -3.25%


Total
36.57 -3.00%



Engie
12.51 -0.08%

Orange
10.655 -0.33%



Bp
247.65 -5.80%

Vodafone
123.68 -0.98%

Royal Dutch Shell A
1,271.2 -5.09%


Royal Dutch Shell B
1,234.2 -5.35%

TULLOW
27.87 -3.83% (-1.11)

[the grumpy old men] 30/11/2020 12:07

Total: HSBC upgrades from EUR 35 to EUR 43.

[the grumpy old men] 30/11/2020 10:55

Total SE Subsidiary to Build Renewable Energy Microgrid in Cambodia
11/30/2020 | 10:40am GMT


By Giulia Petroni

Total SE said Monday that its subsidiary Total Solar Distributed Generation is building a renewable energy microgrid in partnership with Canopy Power Pte in Cambodia.

The French oil-and-gas major said the project, which is located in the island of Koh Rong Sanloem in Sihanoukville, consists of a 1.25-megawatt-peak solar photovoltaic plant and a 2-megawatt-hour battery storage system. Construction has already started and completion is expected in April 2021.

Singapore-based microgrid specialist Canopy Power will design and build the microgrid, while Total Solar DG will finance, own and operate the plant, according to Total.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

11-30-20 0540ET

[waldron] 27/11/2020 17:30

Brent Crude Oil NYMEX 48.00 +0.76%
Gasoline NYMEX 1.26 +0.55%
Natural Gas NYMEX 2.84 -2.87%
WTI 45.31 USD +0.78%

FTSE 100
6,367.58 +0.07%
Dow Jones
29,890.79 +0.06%
CAC 40
5,598.18 +0.56%
SBF 120
4,428.16 +0.61%
Euro STOXX 50
3,527.79 +0.32%
DAX
13,335.68 +0.37%
Ftse Mib
22,343.09 +0.64%



Eni
8.582 +0.28%



Total
37.7 +0.90%



Engie
12.52 -0.04%

Orange
10.69 +1.47%



Bp
262.9 -0.23%

Vodafone
124.9 -0.62%

Royal Dutch Shell A
1,339.4 -0.06%



Royal Dutch Shell B
1,304 +0.40%

[adrian j boris] 25/11/2020 11:42

OFFSHORE TECHNOLOGY


Total selects Maersk Drilling rigs for Suriname campaign

25 November 2020 (Last Updated November 25th, 2020 11:29)

French oil major Total has awarded a conditional letter of award (CLOA) to Danish offshore drilling rig operator Maersk Drilling for the supply of two deepwater rigs, namely Mærsk Developer and Maersk Valiant.


French oil major Total has awarded a conditional letter of award (CLOA) to Danish offshore drilling rig operator Maersk Drilling for the supply of two deepwater rigs, namely Mærsk Developer and Maersk Valiant.

The two semi-submersible rigs will be used for an exploration and appraisal project in Block 58 offshore Suriname.

Hydrocarbon exploration firm Apache operates and owns a 50% working interest in the block while Total holds the remaining 50% interest.

Expected to begin early next year, the campaign is estimated to last for 500 days.

The contract value for both the rigs is valued at $100m, including rig upgrades as well as integrated services.

Maersk Drilling noted that the CLOA is subject to finalisation of the formal contract and other customary conditions.

The Danish rig operator noted that it will provide an update ‘upon conclusion of a formal contract’.

Maersk Drilling COO Morten Kelstrup said: “We’re delighted to get this opportunity to add further to our long-standing relationship with Total through a two-rig contract, building on our previous collaboration on deepwater exploration projects and on Maersk Drilling’s recent experience with starting up operations in Suriname for Mærsk Developer.”