Share Name Share Symbol Market Type Share ISIN Share Description
Total SA LSE:TTA London Ordinary Share FR0000120271 TOTAL ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.6625 € +1.46% 46.1825 € 45.925 € 46.44 € 45.705 € 45.705 € 45.705 € 794,204 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 4,150.46

Total SA Share Discussion Threads

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DateSubjectAuthorDiscuss
16/2/2018
13:51
upstream going downstream and beyond Https://www.bloomberg.com/news/articles/2018-02-16/there-s-more-to-big-oil-than-oil-total-tells-1-trillion-fund
la forge
16/2/2018
12:30
BP and Total agree to accept each other’s fuel cards across Europe John Wood · 16 February, 2018 BP company owned site BP and Total have agreed a deal to accept each other’s fuel cards across Europe. The agreement will see Total accept use of the BP/Aral fuel card at its network of stations in France, Belgium, Luxembourg, the Netherlands, Poland and Germany. In return, BP/Aral will accept Total’s fuel card at stations in Germany, the UK, Austria, Luxembourg, the Netherlands, Switzerland and Poland. This means that both BP/Aral card and Total card will be accepted at an additional 4,000 stations. “The extension of our acceptance network means that BP/Aral customers now have access to over 22,000 sites in 29 countries, in addition to data and technical support to manage their fleets,” said Guy Moeyens, BP chief operating officer fuels, Europe and southern Africa. Benoît Luc, Total M&S senior vice president for Europe, added: “With this extension of our acceptance network we will be able to satisfy our professional customer needs and perfectly complement our card offer in Europe. It will also contribute to one of the key objective of Total Group: accompany our customers in their energy choices and be the partner of their mobility.”
grupo
13/2/2018
15:20
Alexander Bueso WebFG News 13 Feb, 2018 15:01 13 Feb, 2018 15:02 Morgan Stanley downgrades BP, cuts target for Shell bp BP 476.35 14:58:59 13/02/18 -0.48% -2.30 Total 45.45 14:58:59 13/02/18 0.44% 0.20 Royal Dutch Shell 'A' 2,295.00 14:58:55 13/02/18 0.44% 10.00 Royal Dutch Shell 'B' 2,315.00 14:59:00 13/02/18 0.43% 10.00 Statoil 173.75 14:58:00 13/02/18 -0.23% -0.40 FTSE 100 7,174.90 14:58:59 13/02/18 -0.03% -2.16 CAC 40 5,117.68 14:59:00 13/02/18 -0.42% -21.50 DJ EURO STOXX 50 3,346.60 14:59:00 13/02/18 -0.63% -21.13 FTSE 350 3,991.69 14:58:59 13/02/18 -0.06% -2.27 FTSE All-Share 3,944.26 14:58:59 13/02/18 -0.05% -2.16 Morgan Stanley downgraded its view on shares of BP by one notch from 'overweight' to 'equalweight', predicting that management would continue to prioritise debt reduction over the dividend payout. Elsewhere in the sector on the other hand, Total and Statoil had rocked the proverbial boat with their recently announced dividend hikes. Indeed, it was chiefly due to the above that the broker downgraded BP, as it was limited to two 'overweights' in the sector. Thus, while the broker's recommendation on Royal Dutch Shell stayed at 'overweight', that on Total was increased from 'equalweight' to 'overweight'. The decisions from Total and Statoil marked an 'inflection point' for the sector, Morgan Stanley said, adding that it was "reflective of the improvement that insiders were seeing". Yet while Total's dividend cover-by-free cash flow was seen reaching a "particularly strong" 155% by 2019, in BP's case that ratio was only expected to improve to around 95% in 2018 and then 110% in 2019. Combined with a less robust balance sheet, that would see management prioritise debt reduction, Morgan Stanley said. Even so, as confidence grew in its payout, Morgan Stanley expected the shares' dividend yield to fall. Worth noting, the broker also revised its target prices for all three stocks lower, with BP's falling from 645p to 550p, Total's from €56.0 to €55.6 and Shell's from 3,040p to 2,830p. The target price cut on Shell was despite the broker's forecasts calling for it to be the next to raise its dividend, with its free cash flow reaching $21bn in 2018 on an oil price of $64 a barrel, rising to $24bn in 2020 at $60 oil, resulting in FCF dividend covers of about 135% and 155% in each of those years. "If history is any guide, BP's financial outlook is strong enough so that investors do not demand a yield much bigger than ~5.2% [from 6.2% at present], which is our target yield by end-2018. This still suggests a return prospect of ~23% – healthy but less strong that its two direct peers (Total and Shell)."
la forge
13/2/2018
14:13
Big Oil sector is rapidly improving, but Shell is preferred over BP - analyst 11:03 13 Feb 2018 As European rivals increase dividend pay-outs, Morgan Stanley is upbeat about Shell but is less so about BP which he has downgraded BP petrol station BP is now rated as ‘equal weight’ Never mind the share price performances, the ‘Big Oil’ sector is rapidly seeing better cash generation and reducing debt burdens, says Morgan Stanley analyst, Martijn Rats. In a note, he highlights that dividend increases in the sector - from Total and Statoil – represents an unexpected but important ‘inflection point’, reflecting the kind of progress seen by industry insiders. READ: BP has shown best improvement among oil majors - analyst “Every previous cycle has shown that, in the end, commodity prices and the industry's cost structure find a new equilibrium such that new projects can go ahead again and the majors can maintain their dividends,” the analyst said. Nonetheless, Rats fancies rivals like Royal Dutch Shell PLC (LON:RDSB) and Total ahead of BP PLC (LON:BP) as the analyst has downgraded the London-listed oil major to ‘equal weight’ from ‘overweight217;. “We do not expect that BP will keep up with Total and, ultimately, Shell on dividend growth. It drops in our relative preference mostly because Total rises,” he added. READ: Shell boss Van Beurden boasts of “strong financial performance” Shell is already rated as ‘overweight217; by Morgan Stanley and it could be the next oil major to increase its dividend, according to Rats, who thinks the bigger pay-out could come “this time next year”. “Shell benefits from similar industrial fundamentals as Total: a cost base that is reset sharply lower, a healthy pipeline of projects that add cash flow, a strong Downstream segment and a growing Chemicals business,” the analyst said. “On top, we would argue that Shell stands out with a particularly thoughtful approach to the Energy Transition.” Statoil is upgraded to ‘equal weight’ following its dividend hike, as Morgan Stanley sees “impressive growth” and as a result the no longer warrants the previous ‘underweight’ rating.
grupo
13/2/2018
11:10
Interview: Total eyes greater role in gas-fired power, renewables in Europe London (Platts)--13 Feb 2018 552 am EST/1052 GMT French major Total is considering increasing its gas-fired power generation capacity and renewables presence in Europe, the head of its gas, renewables and power division said, as the company pushes forward with a strategy to improve its green credentials. * French major wants presence along gas value chain: Sauquet * Keeping close watch on German, French policy decisions * Carbon price of Eur20/mt sufficient to eliminate coal At the center of the initiative is Total's increasing focus on gas -- and LNG in particular -- following the agreed acquisition of Engie's LNG business in late 2017. But a gas presence all along the value chain -- from production to power generation -- is key to Total, as is the further development of its renewables business, Philippe Sauquet told S&P Global Platts in an exclusive interview in London. "What is important for us is to be present all along the gas chain, all the way down to the electricity end-user," Sauquet said. Total already has a number of power generation assets, including co-generation plants in France and Belgium close to its refining operations, but the company sees a bright future for gas and renewables to work in tandem across Europe. It created its new Gas, Renewables and Power (GRP) division in 2016, with the goal of preparing the long-term future of the group in the field of low carbon. "Our aim is to bring low-carbon energy to our customers, with gas on one side and renewables on the other. We see a nice fit between gas and renewables," he said. Total has made a number of acquisitions in the recent past in a bid to grow its low-carbon business. These include the takeover of Belgian gas and green power supplier Lampiris in 2016, the acquisition the same year of France-based battery manufacturer Saft, and the purchase of a 23% stake in wind, solar and hydro power generator EREN in October last year. It is also pushing on organically, and has developed several solar farms in France, including a 7 MW facility next to its refurbished bio-refinery at La Mede. POLICY UNCERTAINTY Sauquet said Total was keeping close watch on the political developments in France and Germany, which in the near future could give more clarity on the future of the countries' energy mixes. A concrete shift away from coal-fired power generation in Germany would give gas a major boost, he said. "When the Germans finally take the decision to shut down coal-fired power plants, gas would be all the more one of the most economical solutions to bring flexible power to all these interconnected markets -- France, Belgium, Germany etc," Sauquet said. In France, he said Total was encouraged by the recent policy moves to phase out coal early next decade. "We still have to see if the target date will be met. But the intent is good and if the shutdown takes place in 2021/22 as announced there will be a need for more gas-fired power generation," he said. But, the evolution of the French power market is uncertain and depends largely on the fate of the EDF-operated nuclear fleet and how electricity demand develops in the coming years. "If there is flat power demand and the nuclear fleet is performing well, you may potentially have a case where you don't need more gas-fired power generation," he said. "But if you have technical risk and any decision to generate less from nuclear, or even shut down part of the nuclear fleet, together with more demand for electricity for cars and other uses, then we can't be sure that renewables will be enough to compensate for this extra demand," he said. "We think there is a good case for stronger demand for gas-fired power generation in Europe." Total also continues to advocate for a Europe-wide price on CO2 emissions to help push coal out of the energy mix. "The ETS in Europe has not been well managed, and we have a very low carbon price which is not bringing a real reduction of CO2 emissions," he said. "A carbon price level of Eur20/mt should be sufficient to see a shift in generation and a phasing out of coal-fired power." OWN PRODUCTION Asked if Total would be open to operating more gas-fired power plants, Sauquet said: "Yes -- definitely. We are willing to be more present in gas-fired power generation than we are today." He pointed to the situation in Germany where some new CCGTs have been idled because they are more expensive to operate than existing coal-fired plant. "We are seeing some brand new CCGTs stopped in Germany while they continue to produce from coal. So there could be opportunities for companies like Total that believe strongly in the future of gas to step up and buy some assets rather than seeing them shut down," Sauquet said. As for building new CCGT, the company has not set any strategic targets. "Today there is not really a compelling case to build new gas-fired power generation while we don't have a clear vision on German and French policy," he said. "When it is clearer we could decide to build new capacity." Total is already becoming a more significant power supplier in France, and launched last year "Total Spring" to supply gas and renewable power to end-users at a 10% discount to regulated tariffs. "This is part of our long-term vision to continue to grow our market share in France," Sauquet said. He added that Total did not necessarily need generation assets to grow its supply business given the liquidity on the wholesale power market. "We don't really need to have our own power plants because there is a wholesale market for electricity and you can source power competitively from the market. Power plants are optional, but they are a valuable and useful option and we intend to increase our power generating assets. "We are generating value from this presence all along the chain, and we have option to arbitrage the quantities we buy on the market and the quantities we produce ourselves. "We already produce power, and intend to produce more in the future, especially by adding renewables -- solar farms as a priority and maybe wind farms," he said. --Stuart Elliott, stuart.elliott@spglobal.com --Edited by Jeremy Lovell, jeremy.lovell@spglobal.com
grupo
11/2/2018
18:41
Tradingsat.com) - Analysts at CMC-CIC Markets have their recommendation from "Accumulate" to "Purchase" on Total with a target price of 54 euros. They believe that "the sharp decline in Breakeven (break-even point) of Total in 3 years, less than 27 dollars per barrel before dividend, and visibility higher than that other super majors - as well as its results - should be translate into a continuation of the revaluation of Total ". CMC-CIC Markets also highlights my excellent visibility on the shareholder compensation. "Given the strength of its balance sheet (BN / capital at 12% at the end of 2017, the best level of the majors) Total a now enough visibility to announce 10% growth of its dividend over 2018-2020, ie EUR 2.72 per share at this horizon against 2.48 euros per share in 2017. To this will be added share buybacks to fully offset the scrip dividend (dividend in shares, Ed), and $ 5 billion of redemptions
florenceorbis
11/2/2018
17:42
News ID: 209797 Published: 0331 GMT February 11, 2018 Total chief says told Trump to stick with Iran nuclear deal Total chief says told Trump to stick with Iran nuclear deal The chief executive of French oil company Total urged US President Donald Trump to keep faith with the Iran nuclear deal. Patrick Pouyanné said he delivered the message at a dinner with Trump and other European chief executives in Davos in January, highlighting Total's emergence as the most vocal corporate champion of economic engagement with Iran. "When I had the chance to have dinner with the president of the US, I asked the question [about Iran]," Pouyanné told the Financial Times. Total signed a multibillion-dollar deal in July last year to develop the next stage of South Pars — the world's largest gas field shared between Iran and Qatar — marking Tehran's first major contract with a Western energy company since the lifting of some international sanctions in 2016. Pouyanné remained 'fully committed' to the project but said Total had 'several ways to exit' if sanctions were re-imposed. "If the framework, the rules of the game, change, of course we will have to re-evaluate," he said. Total has a 50.01-percent stake in the South Pars project and China's state-owned CNPC has 30 percent with Iran's Petropars accounting for the remainder. Pouyanné said the project was 'moving along' but Total had so far spent only about $50 million — allowing it to withdraw without large losses if political circumstances change. The Financial Times understands that CNPC would be obliged to take over Total's stake in the South Pars project if the French company was forced to withdraw. Pouyanné acknowledged that selling out to CNPC was a possibility but declined to discuss contractual arrangements. Another option would be stopping the project altogether, he added, but underlined that Total hoped an exit would not be necessary.
florenceorbis
11/2/2018
17:39
Total-led (Paris:FP) (LSE:TTA) (NYSE:TOT) international consortium (Total 40%, ENI 40% and Novatek 20%) and the government of Lebanon have signed two Exploration and Production Agreements covering Blocks 4 and 9 located offshore Lebanon, in the eastern part of the Mediterranean Sea. These agreements provide for the drilling of at least one well per block in the first three years. " An established player in Lebanon's marketing sector, Total is delighted to expand its presence in the country to the exploration & production segment. These agreements are part of the Group's exploration strategy in the Mediterranean region", stated Stéphane Michel, Senior Vice President Middle East/ North Africa, Exploration & Production at Total. The consortium's priority will be to drill a first exploration well on Block 4 in 2019. As for Block 9, Total and its partners are fully aware of the Israeli-Lebanese border dispute in the southern part of the block that covers only very limited area (less than 8% of the block's surface). Given that, the main prospects are located more than 25km from the disputed area, the consortium confirms that the exploration well on Block 9 will have no interference at all with any fields or prospects located south of the border area. The blocks were awarded to the consortium in the frame of the 1st offshore licensing round, launched by the Lebanese government in January 2017.
florenceorbis
10/2/2018
16:06
After an excellent vintage 2017, Total cajole its shareholders The Income on 09/02/2018 at 08:28 0 Tweet Total's dividend will increase by 3.2% in 2018. (© Total) Not deviating from its good habits, the group led by Patrick Pouyanné has published strong annual results. Last year, Total's adjusted operating profit jumped 27% to $ 11.94 billion. It was mainly driven by the soaring profits of the "exploration-production" division (+ 86%, to 5.99 billion). In recent years, this division was the most affected by the collapse of the price of black gold. Its strong rebound in 2017 is due to the efforts made by the company to reduce its costs ($ 3.7 billion in savings achieved between 2014 and 2017). The "exploration-production" division also benefited from the sharp recovery in the price of black gold (+ 24% for the barrel of Brent). The "refining-chemicals" division, for its part, saw its operating result fall by 10%, to 3.79 billion dollars. A drop due to Hurricane Harvey, maintenance operations and the divestiture of Atotech. The performance of this branch - which had played a buffer role in 2015 and 2016 after the decline in the price of crude - remains nevertheless quite honorable, and higher than the expectations of analysts. Profit leaps, debt melts For 2017, Total recorded adjusted net income up 28% to $ 10.58 billion. He is also superior to the expectations of consensus. More Read more on revenu.com
ariane
09/2/2018
17:03
Total highlights value of UK North Sea business to group MARK WILLIAMSON Total's Elgin installation in the North Sea Total's Elgin installation in the North Sea 0 comments TOTAL has said its UK North Sea business is an important driver of growth after becoming the latest oil major to announce a big increase in profits. The French giant achieved $2.9 billion (£2bn) underlying profit in the fourth quarter, up 19 per cent from $2.4bn in the same period of 2016. Total noted it benefited from the increase in the crude price in 2017 and strong growth in production. It said notable field start ups included Edradour Glenlivet West of Shetland. This came onstream in August, during which Total increased its exposure to the UK North Sea through the acquisition of Maersk Oil for $7.45bn. Total noted yesterday: “In exploration and production the Group is preparing for future growth with the announced acquisition of Maersk Oil, strengthening its position in the North Sea.” BP quadrupled fourth quarter profits to $2.1bn. Royal Dutch Shell increased profits by 140 per cent to $4.3bn in the quarter. Both have underlined their commitment to the UK North Sea in recent days. Moves by major exporters to cut output helped the Brent crude price rise from less than $30 per barrel early in 2016 to more than $70/bbl last month. Brent has fallen to around $65.30 amid concern about rising US production. It fetched $115/bbl in 2014.
ariane
09/2/2018
14:33
9/02/2018 | 12:55 Paris (awp / afp) - The big oil and gas companies made billions of profits last year thanks to the rise in prices, but they remain cautious and do not want to spend sparingly. The season of annual results confirmed the good health found in the sector. Total announced this week an annual net profit up 39% to $ 8.6 billion. Its competitors BP, Chevron, ExxonMobil or Royal Dutch Shell have also accumulated profits. "2017 was one of the best years in BP's recent history," said Bob Dudley, general manager of the British group. All benefited from the recovery in oil prices, supported by the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and its partners, including Russia, which limited their production to reduce supply in the market. Last year, oil prices were $ 54 per barrel on average, up from $ 44 in 2016. Brent North Sea crude is now trading at $ 70 a barrel. The majors took the opportunity to spoil their shareholders, impatient after several years of lean cows, in the form of higher dividends and / or share buyback programs. But this is not the return of the good years. Following the fall of the courts three and a half years ago, the majors had cut their costs and reduced their investments. After adjusting to be profitable with lower prices, they do not intend to release the bridle. Shell boss Ben van Beurden summed up his mood last year, saying he was now working as if oil prices were to remain "lower forever". "HESITATIONS AND UNCERTAINTIES" "We maintain all these savings programs despite the rise in crude prices," confirmed this week the CEO of Total, Patrick Pouyanné. Sign of prudence, the improvement of the economic situation is only reflected by a timid recovery of investments in exploration-production. They had slightly rebounded 4% to 389 billion dollars worldwide last year and should still modestly increase by 2 to 6% this year, said IFP Energies nouvelles, in forecasts unveiled this week. A level that remains far from the $ 683 billion in 2014. This increase, which is very uneven across regions, is also largely driven by North America and the independent companies that produce unconventional hydrocarbons. The majors, for their part, have seen their expenses fall by 16%. "The leaders of the big oil companies have certainly breathed a sigh of relief because the rise in prices has yielded significant results," said David Elmes, energy specialist at Warwick Business School. "But there are also hesitations and long-term uncertainties that limit any return to full-speed development," he says. Companies remain cautious because the course of prices remains more uncertain than ever. Demand is expected to remain strong, particularly in China and India, but the rebalancing of the market is threatened by a possible opportunistic influx of American shale oil. "I'm sure that the American independent companies will again invest a lot to benefit from a $ 60 barrel and produce more shale oil, so we will have volatility in the market," predicts Patrick Pouyanné.
ariane
09/2/2018
11:13
Credit Suisse revaluates Total but remains cautious Aymeric Val, published on the 09/02/2018 at 11h09 Credit Suisse revaluates Total but remains cautious Photo credit © Total (Boursier.com) - In the wake of the robust annual accounts published yesterday by Total, Crédit Suisse updates its projections on the French oil group to take into account the good level of generation of free cash flow, the lowering of the tax pressure and rapid deleveraging. This results in a new price target of 50 euros, 3 euros more than its previous target. Credit Suisse, however, maintains its "neutral" opinion, given the lack of visibility on the evolution of crude oil prices and the risk of pressures on operating costs and return on capital. Confident in the years to come, Total has confirmed at its annual point a program investment of 15-17 billion dollars a year. The oil company has also set a target of maintaining the debt ratio (net debt on capital) of less than 20%, maintaining a grade A rating and has also proposed a dividend increase of 10% over the next 3 years. repurchase of shares issued without a discount under the share dividend option and a share repurchase program of up to $ 5 billion over the 2018-2020 period. In 2017 alone, the Board of Directors will propose to the Combined General Meeting of Shareholders, to be held on June 1, 2018, to set the dividend for the 2017 financial year at € 2.48 per share, up 1.2% compared to 2016.
la forge
09/2/2018
06:48
LONDON -- Big oil companies are rewarding investors again, using boosted profits from the fragile crude-market recovery to shower shareholders with larger dividends and stock buyback programs. French oil giant Total SA said Thursday it would raise its dividend by 10% over the next three years and buy back up to $5 billion-worth of shares in the latest sign of confidence in the industry. Chevron Corp., Statoil ASA, Anadarko Petroleum Corp. and ConocoPhillips have all announced higher investor payouts this year. Those moves followed British oil giant BP PLC's announcement of a new share-buyback program in October. Buying back existing stock generally makes the remaining shares more valuable. The companies are rewarding shareholders first and promising to maintain current spending levels as profits return to the industry after a three-year slump in oil prices. The oil-price crash had forced some companies, including Total, to offer investors the option to take their dividend in shares as a way to preserve cash. Other firms, like Conoco and Italian oil titan Eni SpA, cut the payouts to weather the downturn. Now, higher oil prices -- coupled with the industry's painful, yearslong efforts to cut costs -- are providing support for dividends and buybacks. Brent crude, the international benchmark, was down 0.9% Thursday afternoon in London at $64.92, its lowest level since December but still over double the price at the market's trough in the winter of 2016. Total's announcement Thursday came as the company reported a 86% rise in net profit for the fourth-quarter compared with the prior year. Full-year earnings rose 39%, boosted by rising crude prices and growing oil and gas production. Total has "the confidence to be bold and give shareholders a real prize today," said analysts at Bernstein. "2018 will be the year of higher-than-expected cash returns." Shares in Total closed up 0.7%, on a day when most of its rivals' stocks fell. The company capped off a set of mixed results for the world's biggest oil companies. Rivals Exxon Mobil Corp. and Chevron both increased profits in the fourth quarter but missed expectations, sending their share prices down. Royal Dutch Shell's profits tripled, but its cash flow disappointed. BP suffered almost $2.7 billion in one-time charges, marring an otherwise healthy set of profits. The patchy earnings highlight the challenges that still plague the sector, even as profits rise. The industry is wary of the possibility of prices falling again, with many companies vowing to maintain spending discipline and use excess cash to reduce debt and return value to shareholders. The oil market has underscored those fears in the past two weeks, falling from levels over $70 a barrel reached late in January. "Our expectation is that some of this recent strength could be short lived, and then prices will moderate over the medium term," BP Chief Executive Bob Dudley told analysts Tuesday. Still, Chevron said it would boost its quarterly dividend by 4% and signaled that more cash returns could be on the way if oil prices remain around current levels. Shell has outlined plans to start a $25 billion share-buyback program by the end of the decade. On Wednesday, Norway's Statoil said it would increase its fourth-quarter dividend by 4.5%, as the state oil company returned to profit and said it could generate positive free cash flow, even with oil prices below $50 a barrel. Stronger financial performance also encouraged the U.S.'s Anadarko Petroleum Corp. and ConocoPhillips to increase their quarterly shareholder payouts and raise the size of their share buyback programs. Both companies reduced their dividends during the worst of the oil price crash. Write to Sarah Kent at sarah.kent@wsj.com (END) Dow Jones Newswires February 08, 2018 13:50 ET (18:50 GMT)
la forge
08/2/2018
22:28
Total’s entry into oil and gas Feb. 09, 2018, 12:30 am By JOE WATSON GAKUO Gas cylinders Gas cylinders Facebook Twitter Google+ WhatsApp Email Oil is power. Those who can consistently get their hands on most oil, at the best prices, will rule. Total entry into Kenya’s upstream sector is very telling. Kenya and East Africa as a whole has followed a long path in the exploration of oil and gas resources. On the back of soaring crude oil prices between 2004 and 2014, there was a rush of exploration interest in the region. As promising exploration results were announced, the Big Oil players started to move in. Statoil, Shell (also in Kenya), Petrobras and ExxonMobil are in Tanzania while ENI is established in Mozambique. This confirms this regions reputation as a promising new frontier. Large onshore oil finds in Uganda in 2006, followed six years later by discoveries in Kenya created a great deal of optimism over the region’s prospect. Coupled with huge gas discoveries in Mozambique and offshore Tanzania, the region was emerging as a true frontier in the upstream industry. The world took notice, and the oil and gas majors were not to be left behind. The recent announcement that Total, an oil major, that it will take up 25 percent of Turkana oilfields, and also their commitment to the construction of the Lokichar- Lamu crude oil pipeline is welcome but also surprising given what has transpired over the last couple of years. From a regional economic perspective, there was a straightforward solution to export Uganda and Kenya’s oil resources. Considering that mainland Tanzania does not have any oil discoveries, a joint pipeline from Lake Albert in Uganda, linked to Turkana oilfields on Kenya and onward to Lamu would allow the region to take to market newly discovered resources. It is reported that Total exerted their influence to prioritise a new crude oil pipeline from Hoima in Uganda to Tanga in Tanzania, much to Kenya’s government chagrin. However, it seems that Total have had a long-term plan in place in consolidating their interests in the East Africa region, in both upstream and downstream operations. In recent years, the company has acquired Elf Oil Kenya, Caltex (Chevron Kenya Ltd and Gulf Africa Petroleum Corporation. Main assets being logistic terminals and a retail network of service stations With this development now, the company will find itself in an uncomfortable situation, having convinced Uganda to short-change Kenya on the route of its export pipeline. Something that did not go down well with most Kenyans, including people in the corridors of power. I hope they will deliver on the promise they just made to President Uhuru Kenyatta. Total is not new in Kenya. They have been present in the country since 1955. As recent as 2011, their its Total E&P Kenya BV, it acquired interests in five offshore exploration blocks in the Lamu basin which included blocks L5, L7, L11a, L11b and L12. This was part of their larger strategy which consisted acquiring large stakes in emerging frontier regions. As far as investments were concerned, East Africa took up nearly 32 percent of Africa’s oil and gas investments. Then came the fall in global oil prices in mid-2014, and the oil rush lost momentum. This served to deflate expectations for the region’s potential and slowed progress towards the development of crude oil pipelines. During this period, Total moved to solidify its regional petroleum interests by acquiring Maersk Oil’s significant upstream assets in Kenya. In line with their global strategy, they also acquired the portfolio of Engie’s upstream liquefied natural gas (LNG) assets. The two crude oil pipelines in East Africa are important in de-risking new exploration areas in the region, and with rising global prices, this would also incentivise exploration activities. This would work in Total’s favour given they have interests in the north eastern DRC where they did seismic work in 2016. The construction of the Lokichar-Lamu crude oil pipeline would also bring closer the dream of South Sudanese government exporting their oil through Kenya, bypassing the only existing crude pipeline through their hostile neighbour Sudan. This is very important to Total given their interests in Block B, beleieved to hold significant oil deposits. The completion of the 1,445km Hoima – Tanga, and the 985km Lokichar – Lamu pipelines will allow Total to tie up all its assets, and link the entire region’s growing oil resources. This will also give them considerable power which they might leverage to influence regional politics and policies. Joe Watson Gakuo is the Chief Executive Officer at Upstream Oil & Gas Ltd and the Founder, Upstream Oil & Gas Awards in East Africa. Email: jwatson@upstreamgrp.com
la forge
08/2/2018
17:34
Total SA Records a Blowout Quarter and Initiates Share-Buyback Program Just about everything went Total's way this past quarter, such that the company is in a position to start rewarding shareholders for their patience. Tyler Crowe (TMFDirtyBird) Feb 8, 2018 at 10:17AM After another quarter of making deals and growing the business, Total's (NYSE:TOT) management and board signaled that they are satisfied enough with the company's progress over the past few years. Now, the oil and gas company is looking to shift gears from capital investment to returning capital to shareholders in a significant way. Let's take a look at Total's most recent financial performance, what moves management made in the fourth quarter, and why it is confident enough in its new position in the energy world that it can start throwing off cash to its investors. By the numbers Metric Q4 2017 Q3 2017 Q4 2016 Revenue $47.35 billion $43.04 billion $42.27 billion Net income $1.02 billion $2.76 billion $548 million EPS $0.37 $1.06 $0.20 Cash flow from operations $8.61 billion $4.36 billion $7.02 billion Data source: Total earnings release. EPS = Earnings per share. After several quarters of earnings growth, Total's net income result of $1 billion seems a bit off when you consider that oil prices rose significantly in the fourth quarter and the company increased production. The reason for the net income slide was because of $1.8 billion in various charges and impairments that were nonexistent in the third quarter. On an adjusted basis, fourth-quarter earnings were $2.9 billion. The other number here that looks a little out of whack is that massive increase in cash flow from operations. That benefited from a reduction in working capital -- something that commonly happens in the fourth quarter at Total. Even when we discount this working capital drawdown, it was another great quarter of cash flow. While all of the company's business segments performed admirably, it was unsurprisingly its exploration and production segment that carried the quarter with an $800 million increase from the prior year. This helped offset the reduction in earnings in the refining and chemicals segment, which suffered from rising prices and smaller refining margins. TOT adjusted net operating income by business segment for Q4 2016, Q3 2017, and Q4 2017. Increases for exploration and production more than offsetting losses for refining and chemicals. Data source: Total earnings release. Chart by author. The highlights Total production for the quarter increased 6% year over year to 2.61 million barrels of oil equivalent per day. The uptick came from continued ramp-ups at several existing projects, as well as first oil and gas from Yamal LNG in Russia, the Libra field off the coast of Brazil, and the Fort Hills oil sands facility in Canada. Ramp-up at these three facilities should continue into the current quarter. This is also before the company closes its deal for Maersk's oil and gas assets, which should happen this quarter. The company continued to do some wheeling and dealing in the fourth quarter as it acquired all of French power company Engie's liquefied natural gas assets for $1.49 billion. The acquisition makes Total the second largest LNG producer and trader behind Royal Dutch Shell. To fund that Engie deal, the company offloaded its interest in two prospective offshore fields to Statoil for $1.45 billion. It also increased the footprint of its gas, renewables, and power segment by launching a residential gas and electricity service in France. High levels of cash generation in the quarter lowered the company's net debt-to-capital ratio to 12.1%, the lowest among the big oil companies. Thanks to its now low debt levels and strong cash flow generation, Total's board of directors has elected to increase the company's dividend and authorized a share-repurchase program. Under this plan, Total intends to grow its dividend by 10% between now and 2020 and repurchase about $5 billion in shares on top of share repurchases to offset dilution from scrip dividends and stock-based compensation. Oil rig and support ship at sea. Image source: Getty Images. Powered By What management had to say CEO Patrick Pouyanne gave a quick recap of the company's strategic plan that has been in place, and explained how it has profoundly benefited the company and how it has given management the flexibility to start a shareholder-return program: The strategy implemented since 2015 has enabled the Group to reduce its pre-dividend organic breakeven to $27 per barrel in 2017 and generate $22 billion in debt-adjusted cash flow. The Group has also continued to strengthen its balance sheet, ending the year with a 14% gearing [note: Total defines gearing as net debt to equity, not net debt to capital], a significant decrease compared to 2016. In this context, considering the anticipated growth in cash flow from 2018 forward from increasing production and leverage to oil prices, the Board of Directors decided to eliminate the discount on the scrip dividend and propose a shareholder return policy for the coming three years. The company also gave some rough estimates for its 2018 outlook. For the year, it expects to reduce its pre-dividend cash breakeven price to $25 per barrel and grow production by 6%. Management intends to spend $14 billion on organic investments for the year and to keep its net debt-to-capital ratio below 20% for the foreseeable future. TOT Chart TOT data by YCharts. What a Fool believes You could say that Total knocked the cover off the ball this past quarter, but they're French, so they probably don't play baseball. So we'll say they kicked the stitches off the ball instead. Management's ability to cut costs, grow production, make timely acquisitions, and reduce the company's debt load at the same time is an incredible feat that should leave investors ecstatic. With the addition of Maersk this coming quarter, the continuing ramp-ups at Yamal and Fort Hills, and the average oil price staying rather high so far in the first quarter, chances are Total is going to continue churning out these great results at least through the first half of 2018 and possibly beyond. Considering that the company is already posting the best rates of return in the big oil business, investors should be quite happy with the direction of this company.
la forge
08/2/2018
16:09
Total: Oddo welcomes the publication of the 4th quarter share with twitter share with LinkedIn share with facebook share via email 0 0 08/02/2018 | 3:45 p.m. Total reported adjusted net income up 19% to $ 2.9 billion for the fourth quarter of 2017, or $ 1.10 per share. Oddo believes that the results upstream are in line with a good publication in the 4th quarter. The consulting firm confirms its advice to purchase with a goal of 56 E. The Refining and Chemicals business is better than expected. The result was mainly driven by strong growth in the exploration-production (+ 79%) and gas, renewables & power (+ 76%) divisions. Oddo underlines that the group raises its dividends by 10% over 3 years and announces a share buyback program of $ 5bn in 2018-20. The group has indeed announced a proposed dividend of € 2.48 per share for the year 2017, a rise of 10% of the dividend between 2018 and 2020.
the grumpy old men
08/2/2018
12:19
LONDON -- Big dividends and share buybacks are making a comeback in the oil industry amid a fragile market recovery. French oil giant Total SA on Thursday said it would raise its dividend by 10% over the next three years and buy back up to $5 billion-worth of shares in the latest sign of growing confidence in the industry. Chevron Corp., Statoil ASA, Anadarko Petroleum Corp. and ConocoPhillips have all announced higher investor payouts this year. Those moves followed British oil giant BP PLC's announcement of a new share-buyback program in October. Buying back existing stock generally makes the remaining shares more valuable. The companies are rewarding shareholders as profits return to the industry after a three-year slump in oil prices. The crash forced some companies, including Total, to offer investors the option to take their dividend in shares as a way to preserve cash. Other firms, like Conoco and Italian oil titan Eni SpA cut the payouts to weather the downturn. In the past year, the oil market has clawed back some of its losses. Brent crude, the international benchmark, closed at $65.61 on Wednesday, its lowest level since Dec. 22 but still up over 140% since the market bottomed out in the winter of 2016. Higher oil prices -- coupled with the industry's painful, yearslong efforts to cut costs -- are now starting to pay off for investors. Total's announcement Thursday came as the company reported a 86% rise in net profit for the fourth-quarter compared with the prior year. Full-year earnings rose 39%, boosted by rising oil prices and growing production. The strong financial results infused Total with "the confidence to be bold and give shareholders a real prize today," said analysts at Bernstein. "2018 will be the year of higher than expected cash returns." Shares in Total rose nearly 2% in early European trading. The company capped off a set of mixed results for the world's biggest oil companies. Rivals Exxon Mobil Corp. and Chevron both missed profit expectations, sending their share prices down. Royal Dutch Shell PLC's cash flow disappointed, while BP suffered almost $2.7 billion in one-time charges that marred an otherwise healthy set of profits. Still, Chevron said it would boost its quarterly dividend by 4% and signaled that more cash returns could be on the way if oil prices remain around current levels. Shell has outlined plans to start a $25 billion share-buyback program by the end of the decade. On Wednesday, Statoil, the Norwegian state oil company, said it would increase its fourth-quarter dividend by 4.5%. American oil and gas producers Anadarko Petroleum Corp. and ConocoPhillips also announced increases to their quarterly shareholder payouts and raised the size of their share buyback programs. Both companies reduced their dividend during the worst of the oil price crash. Write to Sarah Kent at sarah.kent@wsj.com (END) Dow Jones Newswires February 08, 2018 05:23 ET (10:23 GMT)
the grumpy old men
08/2/2018
09:41
Total S.A. Total Board of Directors Confirms Priority of Implementing Group's Growth Strategy and Announces Shareholder Retur... 08/02/2018 8:30am UK Regulatory (RNS & others) Total SA (LSE:TTA) Intraday Stock Chart Today : Thursday 8 February 2018 Click Here for more Total SA Charts. TIDMTTA Total (Paris:FP) (LSE:TTA) (NYSE:TOT): The Board of Directors met on February 7, 2018 to review the Group's 2017 accounts and cash flow allocation, including the shareholder return policy, for the next three years. Despite a volatile environment over the past three years, Total has successfully reset its business model, delivering solid results in 2017 thanks to strong operational performance and reducing its pre-dividend organic breakeven to 27 $/b Brent. After five years of heavy investment, Total is now delivering strong cash-accretive production growth. The Group has also invested counter-cyclically to acquire resources at attractive prices and is emerging stronger, with clear visibility on growing cash flow and a net-debt-to-capital ratio reduced to 12% at end-2017 that provides increased financial flexibility. Confident in the ability of the Group's teams to seize value-adding growth opportunities, the Board of Directors confirms the priority to implement its long term growth strategy. In this context, the Board of Directors has decided to provide visibility on cash flow allocation and shareholder return for the next three years. The Board of Directors confirms a capital investment program of 15-17 B$ per year, set an objective to maintain the net-debt-to-capital ratio below 20%, and maintain its grade A credit rating and further proposes the following measures: 1.Increasing the dividend by 10% over the next 3 years -- The full-year 2017 dividend will be proposed to the Combined Shareholders' Meeting at 2.48 EUR/share, corresponding to a final quarterly dividend of 0.62 EUR/share and an increase of 1.2% compared to the full-year 2016 dividend -- The 2018 interim dividends 1 will be increased by 3.2% to 0.64 EUR/share, with the intention of proposing to the Combined Shareholders' Meeting a full-year 2018 dividend of 2.56 EUR/share -- The target for the full-year 2020 dividend would be 2.72 EUR/share 2.Buying back shares issued with no discount as part of the scrip dividend option -- Maintain the scrip dividend option, with no discount on the price, since certain shareholders prefer to take their dividend in shares -- Buy back the newly issued share with the intention to cancel them. No dilution linked to the scrip dividend from 2018 -- The buyback of the shares issued in January 2018 as part of the 2 nd 2017 interim dividend payment will start immediately 3.Buying back up to 5 B$ of shares over the period 2018-20 -- The objective is to share with investors the benefits of the oil price upside -- The amount of buyback will be adjusted to the oil price -- This is in addition to the scrip share buyback 2017 Dividend The Board of Directors has decided to propose to the Combined Shareholders' Meeting, which will be held on June 1, 2018, an annual dividend of 2.48 EUR/share for 2017, an increase of 1.2% compared to 2016. Given the three previous 2017 interim quarterly dividends of 0.62 EUR/share, a fourth quarter 2017 dividend of 0.62 EUR/share is therefore proposed. The Board of Directors also decided to propose to the Combined Shareholders' Meeting the alternative for shareholders to receive the fourth quarter 2017 dividend in cash or in new shares of the company with no discount. Subject to approval at the Combined Shareholders' Meeting: -- the ex-dividend date for the fourth quarter dividend will be June 11, 2018; -- the payment of the dividend in cash or the delivery of shares issued in lieu of the cash dividend is set for June 28, 2018. American Depositary Receipts ("ADRs") will receive the final quarterly installment of the 2017 dividend in dollars based on the then-prevailing exchange rate according to the following timetable: ADR ex-dividend date June 7, 2018 ADR record date June 8, 2018 ADR distribution date for cash or shares July 6, 2018 issued in lieu of the cash dividend Registered ADR holders may also contact JP Morgan Chase Bank for additional information. Non-registered ADR holders should contact their broker, financial intermediary, bank or financial institution for additional information. About Total Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in low carbon energy. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. * * * * * Cautionary note This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms "Total" and "Total Group" are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words "we", "us" and "our" may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. 1 First interim dividend will be paid in October 2018 Total contacts Media Relations: +33 1 47 44 46 99 presse@total.com @TotalPress or Investors Relations: +44 (0)207 719 7962 ir@total.com View source version on businesswire.com:hxxp://www.businesswire.com/news/home/20180208005489/en/ This information is provided by Business Wire (END) Dow Jones Newswires February 08, 2018 03:30 ET (08:30 GMT)
the grumpy old men
08/2/2018
09:02
Total SA (FP.FR) said Thursday that its fourth-quarter net profit soared 86% on year as production increased and it benefited from higher oil prices. Net profit was $1.02 billion, compared with $548 million in the year-earlier period. In adjusted terms, net profit rose 19% to $2.87 billion, against estimates of about $2.89 billion from a poll conducted by FactSet. Sales rose to $47.35 billion from $42.28 billion. The French oil-and-gas company said that adjusted net operating profit rose 79% to $1.8 billion at its exploration and production business. In refining and chemicals, adjusted net operating profit fell 22% to $886 million. Financial discipline was maintained in 2017, Total said, with organic investments reaching $14.4 billion--within the estimated range of $13 billion to $15 billion--and cost savings of $3.7 billion, $200 million more than it had targeted. Total said that production costs also fell to $5.4 for a barrel of oil equivalent, compared with $9.9 for a barrel of oil equivalent in 2014. The company proposed an annual dividend of 2.48 euros ($3.06) a share for 2017, 1.2% higher than in 2016. As a result of strong cash-flow growth, the company said that it will propose dividend increases and share buybacks for the next three years. Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com (END) Dow Jones Newswires February 08, 2018 03:10 ET (08:10 GMT)
waldron
08/2/2018
08:46
08 February 2018 - 08H54 Rising oil prices fuel profit rise for France's Total inShare © AFP | Rising oil prices gave French giant Total a welcome boost in profits LA DÉFENSE (FRANCE) (AFP) - French oil and gas giant Total said Thursday that recovering oil prices and increased production gave profits a welcome boost last year. Total said in a statement that its net profit jumped 39 percent to $8.6 billion in 2017. When adjusted for one-off and volatile items, the bottom-line profit figure advanced by 28 percent to $10.6 billion, the statement said. PUBLICITÉ inRead invented by Teads "These strong results were driven by production growth, notably the start-up of Moho-Nord in the Republic of Congo, the ramp-up of Kasgahan in Kazahkstan and the entry into Al-Shaheen in Qatar," Total said. Overall production grew by 4.6 percent to 2.6 million barrels of oil equivalent per day, it said. Chief executive Patrick Pouyanne said that oil prices "rose to an average $54 per barrel in 2017 from $44 per barrel in 2016, while remaining volatile. "The group demonstrated its ability to capture the benefit of higher prices by reporting adjusted net income of $10.6 billion... and a return on equity above 10 percent, the highest among the majors," he said. At the same time, Total said that it planned to buy back up to $5 billion of its own shares between 2018 and 2020 in order to allow shareholders to benefit from the rise in the group's share price.
grupo guitarlumber
08/2/2018
07:42
4733/5000 Total: Dividend and share repurchase 2018-2020Press release share with twitter share with LinkedIn share with facebook share via email 0 0 08/02/2018 | 8:26 Total's Board of Directors reaffirms its priority to implement the Group's industrial growth strategy and announces the return to shareholder policy for the next 3 years: Proposed dividend at € 2.48 / share for the year 2017 10% increase in the dividend between 2018 and 2020 Up to $ 5 billion of share repurchase in 2018-20 Paris - The Board of Directors, meeting on February 7, 2018, approved the Group's financial statements for the 2017 financial year and reviewed the cash flow allocation policy, including the shareholder return policy, for the 3 coming years. Despite a volatile environment over the past three years, Total has successfully repositioned itself, achieving solid results in 2017 thanks to good operating performance and lowering its organic break-even point before Brent's dividend to $ 27 / b. Major investments over the past five years have resulted in strong growth in high margin production. The Group has also strengthened by investing on a counter-cycle and has acquired resources on attractive terms. It enjoys strong visibility on the growth of its cash flow and increased financial flexibility thanks to a debt ratio (net debt on capital) lowered to 12% at the end of 2017. Confident in the ability of the Group's teams to seize value-creating growth opportunities, the Board of Directors reaffirms the priority it gives to the implementation of the Group's long-term industrial strategy. In this context, the Board of Directors wished to give visibility to the policy of allocation of cash flow and return to the shareholder for the next three years. It has confirmed an investment program of $ 15 - $ 17 billion a year, has set a target of maintaining the debt ratio (net debt to capital) below 20% and maintaining a grade A rating and has also proposed the following measures: 1. Dividend increase of 10% over the next 3 years A dividend for 2017 of € 2.48 / share will be proposed to the Shareholders' Meeting, which corresponds to a balance of € 0.62 / share and a dividend increase of 1.2% compared to 2016 The quarterly installments for the 20181 financial year will be increased by 3.2% to € 0.64 per share, with the intention of proposing to the Annual General Meeting a dividend for the 2018 financial year of € 2.56 / share. The dividend target for the 2020 financial year would be € 2.72 / share 2. Redemption of shares issued without a discount under the share dividend option Maintaining the dividend in stock option to meet the wishes of certain shareholders but without discounting the issue price on the share price Repurchase of newly issued shares for cancellation. No dilution linked to the stock dividend option as of 2018 Immediate redemption of the shares issued in January 2018 as part of the payment of the second installment 2017 3. Up to $ 5 billion of share buybacks over the 2018-20 period The goal is to share with shareholders the benefits of rising oil prices Buyback volumes will be adjusted for oil prices This comes in addition to the repurchase of shares issued as part of the stock dividend 2017 dividend The Board of Directors proposes to the Combined General Meeting of Shareholders, to be held on June 1, 2018, to set the dividend for the 2017 financial year at € 2.48 / share, an increase of 1.2% compared to 2016. Given the three installments of € 0.62 / share for the 2017 financial year, a balance of € 0.62 / share is therefore proposed. The Board also proposes that the Shareholders' Meeting decide to offer shareholders the possibility of receiving the payment of this dividend balance for the 2017 financial year, either in cash or by subscribing for new shares of the Company without a discount. Therefore, subject to approval by the General Assembly of the resolution to be proposed: the balance of the dividend will be detached from the share on Euronext Paris on June 11, 2018; the payment in cash and / or the delivery of any shares issued, depending on the option chosen, should take place on June 28, 2018. 1The first deposit will be paid in October 2018 * * * * * Total contacts Investor Relations: +44 (0) 207 719 7962 l ir@total.com
waldron
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