Total Share Discussion Threads

[waldron] 14/5/2020 17:21

Brent Crude Oil NYMEX 30.12 +3.19%
Gasoline NYMEX 0.92 +3.77%
Natural Gas NYMEX 1.92 +1.75%
WTI 26.709 USD +2.61%


FTSE 100
5,741.54 -2.75%
Dow Jones
23,175.82 -0.31%
CAC 40
4,273.13 -1.65%
SBF 120
3,385.9 -1.77%
Euro STOXX 50
2,754.52 -1.96%
DAX
10,337.02 -1.95%
Ftse Mib
16,844.15 -1.97%



Eni
8.514 -0.13%



Total
30.81 -0.90%



Engie
9.246 +0.81%



Bp
296.45 -1.72%

Vodafone
119.52 -1.61%

Royal Dutch Shell A
1,204 -4.85%



Royal Dutch Shell B
1,158.4 -5.31%

[waldron] 14/5/2020 14:07

Source: Africa Oil & Power Conference | 2 hours ago
Total Deal Catalyst for Uganda Oil, COVID-19 Should Not Delay Upstream final investment decision (FID) (by Thomas Hedley, Field Editor, Africa Oil & Power)

On 23 April 2020, Total announced it had signed a deal with Tullow Oil to acquire its long-standing stakes in the Uganda Lake Albert project for $575 million

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KAMPALA, Uganda, May 14, 2020/APO Group/ --

By Thomas Hedley, Field Editor, Africa Oil & Power

Hosted under the theme ‘Taking Advantage of Opportunities in Uganda’s Oil & Gas Sector,’ an Africa Oil & Power (AfricaOilandPower.com) webinar yesterday highlighted the domestic and regional opportunities associated with the Uganda Lake Albert project, oil and gas exploration, and associated services and infrastructure including the $3.5-billion East African Crude Oil Pipeline project.

Speakers included Hon. Dr. Elly Karuhanga, Chairman of the Uganda Chamber of Mines and Petroleum; Gilbert Kamuntu, Chief Commercial Officer, Uganda National Oil Company; NJ Ayuk, Executive Chairman of the African Energy Chamber and Brian Muriuki, MD and Country Chair of Shell Ghana.

Uganda’s oil and gas sector potential was revealed in 2006 and 2007 when sizeable amounts of oil were discovered in Lake Albert on the remote western edge of the country, by Tullow Oil.

On 23 April 2020, Total announced it had signed a deal with Tullow Oil to acquire its long-standing stakes in the Uganda Lake Albert project for $575 million. With Tullow’s exit, the joint venture partners are now Total and China National Offshore Oil Corporation (CNOOC).

Hon. Dr. Elly Karuhanga expressed: “This deal brings a lot of hope to the Ugandan oil and gas sector, which was first put in light upon first discoveries in 2006. It is amazing to see Total sign [a deal of] over half a million [dollars] at times when the oil prices are so low. We are grateful for the vote of confidence and are excited about what lies ahead.”

This milestone takes Uganda closer to a long-awaited final investment decision on the Lake Albert Project (Tilenga project) which is associated with the $3.5-billion East African Crude Oil Pipeline project. The Tilenga project comprises oil exploration, a crude oil processing plant, underground pipelines, and infrastructure in the Buliisa and Nwoya districts of Uganda.

Total’s announcement has boosted confidence of investors involved in the refinery project

In the midst of COVID-19, Total’s announcement surprised many as most operators are currently looking to save costs rather than invest in new projects. Brian Muriuki stated: “I don’t believe COVID-19 will delay the final investment decision on this project, given the long-term perspective. However, the project execution and associated timelines may be at risk of delays due to the potential difficulty to mobilize people and put together a strong workforce, depending on how long COVID-19 lasts and how we can contain it.”

A key aspect of Uganda’s nascent oil and gas industry is the East African Crude Oil Pipeline from Holma in Uganda to the port of Tanga in Tanzania. Stakeholders are hoping the Total transaction will accelerate development. Front end engineering and design works have been finalized as well as environmental and social impact assessments, both in Tanzania and in Uganda. The pipeline route has been traced and the land acquisition process is well understood. According to Gilbert Kamuntu, “The remaining steps mainly include the suite of commercial agreements that surround. There will be no change to the project following Total’s announcement. We will reach final investment decision imminently and start project execution”.

The planned Holma refinery is expected to produce 30,000 barrels per day on commissioning to reach a maximum production of 60,000 barrels per day in subsequent phases. “Total’s announcement has boosted confidence of investors involved in the refinery project, as they can now foresee first oil.” said Dr. Karuhanga.

Despite progress, concerns remain regarding sector recovery in the midst of the COVID-19 crisis. On the question of exploration contract renegotiation, Gilbert Kamantu said: “Governments take a prudent approach to renegotiating product and sharing agreements as they are the basis to operators’ strategy right from the start. Although we are currently in a COVID-19 situation, a production and sharing contract is a 25-year-long agreement so we can’t go ahead and change the terms on a punctual situation. The [Ministry of Energy and Mineral Development] of Uganda is considering negotiating extension of periods in order to provide relief to the companies.”

Uganda currently has an ongoing licensing round which was launched in September 2019 and will close in September 2020. The round includes five blocks for a total acreage reaching 5,000 square kilometres.

Further discussions around the impact of the pandemic touched on the opportunity for African companies to fill the vacuum. As a local content advocate, NJ Ayuk called on African executives: “This is a great time for domestic companies to step up. The real economic impact on major projects will come from local companies, skill transfer, and partnerships with global players. We need to start building on joint ventures, and build capacity in the long-term. Cost implications of this model are obviously a factor to consider. Such local content growth can be costly. However, this stance can be an enabler for the economy across sectors. We should quickly negotiate local content parameters in order to get the project moving forward, without being dogmatic. Local engineers, welders, pipeline management companies, must be proactive and engage with project leaders right now.”

The World Bank expects Uganda to grow at a rate of over 10 percent per annum from oil production and related activity, sending a message to investors that there are immense opportunities for comparatively high returns in Uganda’s oil and gas sector, despite the current challenges of the COVID-19 pandemic.

link to the Webinar: bit.ly/2T18lFR

Distributed by APO Group on behalf of Africa Oil & Power Conference.

[waldron] 14/5/2020 10:27

05/14/2020 | 08:43am BST

In a research note published by Gordon Gray, HSBC advises its customers to buy the stock. The target price is reviewed upwards from EUR 38.00 to EUR 39.25.

[waldron] 14/5/2020 06:34

Royal Dutch Shell Invests In Nigerian Liquefied Natural Gas Unit

Thu, 14th May 2020 05:51
Alliance News

(Alliance News) - Royal Dutch Shell PLC said late Wednesday that all conditions for the final investment decision on a new liquefied natural gas processing unit at Nigeria LNG has been met.

Nigeria LNG is a joint venture, with 49% of it owned by state-owned Nigerian National Petroleum Corp, 26% by Shell through its subsidiary Shell Gas BV, 15% by Total SA and 10% by ENI Spa.

Conditions for the FID included formal commitment from the organisations slated to provide financing for the project.

Once operational, the new unit Train 7 will add 8 million tonnes per annum of capacity to the Bonny Island facility, taking the total to around 30mtpa.

"While remaining mindful of prevailing macro-economic challenges, Shell continues to see NLNG as a great resource that can deliver value to the people of Nigeria and investors alike. This decision is consistent with our long-term strategy and our disciplined approach to capital investment," said Maarten Wetselaar, director of Shell Integrated Gas & New Energies.

"Natural gas is a core component of our strategy to provide more and cleaner energy solutions. With global LNG demand expected to double by 2040, the expansion of the NLNG Bonny Island facility is crucial in helping Shell meet the world’s growing energy needs," Wetselaar added.

Shares in Royal Dutch Shell's 'A' shares closed 3.5% lower at 1,265.40 pence, while its 'B' shares were down 3.0% at 1,223.40p on Wednesday in London.

By Dayo Laniyan; [e-mail]

[waldron] 13/5/2020 17:24

Brent Crude Oil NYMEX 29.68 -1.00%
Gasoline NYMEX 0.90 -3.89%
Natural Gas NYMEX 1.89 -3.82%
WTI 25.971 USD +0.72%


FTSE 100
5,904.05 -1.51%
Dow Jones
23,279.14 -2.04%
CAC 40
4,344.95 -2.85%
SBF 120
3,446.94 -2.72%
Euro STOXX 50
2,810.55 -2.72%
DAX
10,542.66 -2.56%
Ftse Mib
17,190.32 -2.10%



Eni
8.525 -2.17



Total
31.09 -3.79%



Engie
9.172 -1.80%




Bp
301.65 -3.70%

Vodafone
121.48 -1.14%

Royal Dutch Shell A
1,265.4 -3.52%


Royal Dutch Shell B
1,223.4 -3.00%

[waldron] 12/5/2020 17:18

Brent Crude Oil NYMEX 30.07 +1.48%
Gasoline NYMEX 0.93 -1.02%
Natural Gas NYMEX 2.00 -4.03%
WTI 6.091 USD +2.68%


FTSE 100
5,994.77 +0.93%
Dow Jones
24,212.15 -0.04%
CAC 40
4,472.5 -0.39%
SBF 120
3,543.38 -0.38%
Euro STOXX 50
2,884.2 +0.02%
DAX
10,819.5 -0.05%
Ftse Mib
17,560.28 +1.03%


Eni
8.714 +0.96%


Total
32.315 -0.22%


Engie
9.34 -4.30%



Bp
313.25 -0.19%

Vodafone
122.88 +8.74%

Royal Dutch Shell A
1,311.6 -0.17%



Royal Dutch Shell B
1,261.2 -0.06%

[waldron] 11/5/2020 17:17

Brent Crude Oil NYMEX 29.98 -3.20%
Gasoline NYMEX 0.95 -1.11%
Natural Gas NYMEX 2.09 +0.39%
WTI 25.554 USD -1.00%

FTSE 100
5,939.73 +0.06%
Dow Jones
24,178.81 -0.63%
CAC 40
4,490.22 -1.31%
SBF 120
3,556.78 -1.33%
Euro STOXX 50
2,883.6 -0.87%
DAX
10,824.99 -0.73%
Ftse Mib
17,388.29 -0.29%



Eni
8.631 +0.00%


Total
32.385 -1.82%



Engie
9.76 -0.39%



Bp
313.85 -0.65%

Vodafone
113 +0.07%

Royal Dutch Shell A
1,313.8 -0.51%



Royal Dutch Shell B
1,262 -0.13%

[the grumpy old men] 07/5/2020 19:03

05/07/2020 | 04:36pm BST

By Michael Dabaie



Williams Cos. shares were up 4.2% to $19.39 in late morning trading.

The energy infrastructure company earlier said it is in an agreement with Chevron Corp. and Total E&P USA Inc. to provide offshore natural gas transportation services to the Anchor development, 140 miles off the coast of Louisiana in the Green Canyon area of the Gulf of Mexico.

Williams said Chevron plans to drill multiple wells and construct a floating production platform capable of handling the new rich natural gas and oil production from the Anchor development.

Williams will transport Anchor's natural gas production to the Discovery system, of which Williams is 60% owner and operator. The new rich natural gas will be transported to Discovery's processing plant in Larose, La., and the natural gas liquids will be fractionated and marketed at Discovery's Paradis plant in Louisiana.

Anchor is expected to come online in the first half of 2024, Williams said.



Write to Michael Dabaie at [e-mail]

[waldron] 07/5/2020 17:26

Brent Crude Oil NYMEX 30.62 +3.03%
Gasoline NYMEX 0.95 +6.74%
Natural Gas NYMEX 2.16 -0.74%
WTI 26.508 USD +4.03%

FTSE 100
5,935.98 +1.40%
Dow Jones
24,089.78 +1.80%
CAC 40
4,501.44 +1.54%
SBF 120
3,559.89 +1.45%
Euro STOXX 50
2,880.6 +1.27%
DAX
10,759.27 +1.44%
Ftse Mib
17,208.81 +0.29%

Eni
8.556 +1.58%


Total
32.57 +1.15%



Engie
9.69 +1.17%


Bp
315.9 +0.70%

Vodafone
112.92 +0.30%

Royal Dutch Shell A
1,320.6 +2.71%



Royal Dutch Shell B
1,263.6 +2.68%

[waldron] 06/5/2020 17:44

Brent Crude Oil NYMEX 28.98 -6.43%
Gasoline NYMEX 0.87 -5.09%
Natural Gas NYMEX 2.19 -5.23%
WTI 24.793 USD -10.20%


FTSE 100
5,853.76 +0.07%
Dow Jones
23,830.25 -0.22%
CAC 40
4,433.38 -1.11%
SBF 120
3,509.17 -1.00%
Euro STOXX 50
2,843.76 -1.15%
DAX
10,606.2 -1.15%
Ftse Mib
17,167.38 -1.27%



Eni
8.423 -3.04%


Total
32.2 -2.16%

Engie
9.578 +0.15%


Bp
313.7 -1.63%

Vodafone
112.58 +0.09%

Royal Dutch Shell A
1,285.8 -3.73%



Royal Dutch Shell B
1,230.6 -4.11%

[adrian j boris] 06/5/2020 07:40

Jefferies remains with BUY and target price raised from 33 to 37 EUR.

[waldron] 05/5/2020 17:42

Brent Crude Oil NYMEX 30.35 +11.58%
Gasoline NYMEX 0.90 +7.61%
Natural Gas NYMEX 2.35 +5.25%
WTI 26.012 USD +10.00%


FTSE 100
5,849.42 +1.66%
Dow Jones
24,162.84 +1.74%
CAC 40
4,483.13 +2.40%
SBF 120
3,544.63 +2.47%
Euro STOXX 50
2,875.91 +2.25%
DAX
10,729.46 +2.51%
Ftse Mib
17,365.86 +1.94%


Eni
8.687 +5.80%



Total
32.91 +7.94%



Engie
9.564 +1.27%



Bp
318.9 +6.09%

Vodafone
112.48 +2.57%

Royal Dutch Shell A
1,335.6 +5.55%



Royal Dutch Shell B
1,283.4 +5.06%

[adrian j boris] 05/5/2020 11:03

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces today its ambition to get to net-zero emissions by 2050 together with society for its global business across its production and energy products used by its customers.



Through a joint statement developed between Total S.A. and institutional investors -- as participants in the global investor initiative Climate 100+(1) -- Total takes 3 major steps towards achieving this ambition:



Three major steps to get Total to Net Zero:



1. Net Zero across Total's worldwide operations by 2050 or sooner (scope 1+2)



2. Net Zero across all its production and energy products used by its customers in Europe(2) by 2050 or sooner (scope 1+2+3)



3. 60% or more reduction in the average carbon intensity of energy products used worldwide by Total customers by 2050 (less than 27.5 gCO2/MJ) - with intermediate steps of 15% by 2030 and 35% by 2040 (scope 1 + 2 + 3)



This ambition is supported by the strategy to develop Total as a broad-energy company, with oil and gas, low-carbon electricity and carbon-neutrality solutions as integrated parts of its business. Total firmly believes this low-carbon strategy provides a competitive advantage which creates long term value for its shareholders.



This strategy is already in action since 2015 as Total is the leading major in terms of reduction of its scope 3 average carbon intensity with a 6% reduction already achieved since 2015. And today it sets the highest ambition amongst the majors for its scope 3 average carbon intensity with less than 27.5 GCO2/MJ by 2050.



Patrick Pouyanné, in his capacity as Chairman of the Board, declared: "Energy markets are changing, driven by climate change, technology and societal expectations. Total is committed to helping solve the dual challenge of providing more energy with fewer emissions. We are determined to advance the energy transition while also growing shareholder value. Today, we are announcing our new Climate Ambition to get to Net Zero by 2050 - together with society. The Board believes that Total's global roadmap, strategy and actions set out a path that is consistent with goals of the Paris agreement. We acknowledge the positive role of engagement and open dialog with investors as the one we experienced with Climate 100+ along the last months.



We recognize that the trust of our shareholders, and society more widely, is essential to Total remaining an attractive and reliable long-term investment. And only by remaining a world-class investment can we most effectively play our part in advancing a low carbon future. This is the reason why our people are already in action across Total, seeking opportunities to reduce our emissions, improve our products and develop new low-carbon businesses".



Regarding the commitment to become a net-zero energy business in Europe, he commented: "As the EU has set the target to achieve net zero emissions by 2050 and thereby lead the way for other regions to become carbon neutral over time, Total takes that commitment to become neutral for all its businesses in Europe(2) . At the time where Total elects to adopt the status of a European company, Total wants to be an exemplary European corporate Citizen and offers its active support for the EU to achieve net zero emissions by 2050. Total will work together with other businesses to enable decarbonization of energy use".



Total confirms its target of a renewable generation gross capacity of 25 GW in 2025 and will continue to expand its business to become a leading international player in renewable energies. Total currently allocates more than 10% of its Capex to low carbon electricity, the highest level among the Majors. To actively contribute to the energy transition, Total will further increase its allocation of Capex in favor of low carbon electricity to 20% by 2030 or sooner.

[adrian j boris] 05/5/2020 10:00

Total deepens 2020 spending cuts, lowers oil, gas output forecast by 5%

Author Nick Coleman Editor Barbara Lorenzo Caluag Commodity Natural Gas, Oil

Highlights

Organic capex to be 25% below February forecast

Refinery utilization, product sales running at 50% below normal

Total on Tuesday announced a deepening of capital spending cuts and a likely 5% reduction in its upstream oil and gas output in 2020 from its previous forecast, while also highlighting a 50% reduction in its refinery utilization and products sales since mid-March.
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In a first-quarter results statement, reflecting the global health crisis and meltdown in markets following coronavirus pandemic, Total said it now expects its 2020 oil and gas output to be in a range of 2.95 million - 3.0 million b/d of oil equivalent, down from actual production of 3.01 million boe/d in 2019 and a forecast in February of 2% growth this year.

The production decrease would reflect output curbs by the OPEC+ group as well as voluntary output cuts in Canada and ongoing difficulties in Libya, it said.

It also deepened a cut in organic capital expenditure to 25%, down from 20% announced in March, saying net investments would be under $14 billion this year.

In the downstream segment, Europe's largest refiner, said its refinery throughput and sales had been running at 50% below normal since mid-March, "with uncertainty about the timing of a return to normal." It forecast its refinery throughput levels would be in a range of 70%-75% for the full year, down from 84% last year.

CEO Patrick Pouyanne said: "The Group is facing exceptional circumstances," as the COVID-19 health crisis is affecting the world economy and creating major uncertainties.

[florenceorbis] 05/5/2020 09:35

5/05/2020 | 10:21
Analyst Berenberg confirmed this morning its 'buy' recommendation on the Total group share, after results that exceeded its own expectations.

"Overall, we expect the market to take these results positively, because management has indicated that it seeks to maintain distributions to shareholders," said the broker.

Berenberg thus confirms its target price of 35 euros.