Total Share Discussion Threads

[waldron] 26/3/2021 11:56

3rd interim dividend 0.66 €/share

ex divi March 25, 2021

divi pay April 1st, 2021

[the grumpy old men] 25/3/2021 08:33

Total SE will supply roughly 45,000 tons per year of liquefied natural gas to Switzerland-based MSC Cruises, the two companies said Thursday.

The natural gas provided by the French oil-and-gas company will be used for coming LNG-powered cruise ships, they said.

"Used as a marine fuel, LNG sharply reduces emissions from ships, resulting in a significant improvement in air quality, particularly for communities in coastal areas and port cities," they said.



Write to Olivia Bugault at [e-mail]



(END) Dow Jones Newswires

March 25, 2021 04:01 ET (08:01 GMT)

[waldron] 24/3/2021 22:44

ECHO BONDS: Moody's downgrades Total, BP and Exxon
24 Mar 2021 - 03:29PM
Dow Jones News


NEW YORK (Agefi-Dow Jones)--Moody's Investors Service on Wednesday downgraded oil majors Exxon, BP and Total, citing falling oil prices in connection with the Covid-19 pandemic and lower refining margins. Total is unlikely to be able to return to credit metrics consistent with its previous rating in the next two to three years, Moody's said, adding that BP is expected to take 12 to 18 months to reverse its earnings decline in 2020. As for Exxon, Moody's believes that maintaining a high dividend level will slow down the company's deleveraging and that "the deterioration in leverage following the outbreak of the coronavirus pandemic is not expected to be fully reversed in the next few years". Moody's downgraded Total to "A1" from "Aa3", Exxon to "Aa2" from "Aa1" and BP to "A2" from "A1".


-Dave Sebastian, The Wall Street Journal (French version François Schott) ed: VLV


Agefi-Dow Jones The financial newswire


Translated with www.DeepL.com/Translator (free version)

[waldron] 23/3/2021 09:08

Total and Shenergy Group, the leading energy player in Shanghai, have signed binding agreements for the supply of up to 1.4 million tons per annum of Liquefied Natural Gas (LNG) from Total, as well as the creation of a joint venture to expand LNG marketing in China.



The joint venture (Total 49%, Shenergy Group 51%) will sell LNG, supplied by Total, to customers in Shanghai and throughout the neighboring Yangtze River Delta regions, one of the main LNG markets in China. Additionally, Total will supply LNG to Shanghai Gas, the natural gas subsidiary of Shenergy Group, for its distribution business.



"This deal with Shenergy Group is a great opportunity to partner with an experienced Gas & LNG player with strong ambitions, as well as a unique entry point into the downstream LNG market in China. This partnership is in line with our strategy to grow along the entire gas value chain," said Stéphane Michel, President Gas, Renewables & Power at Total. "LNG is playing a key role in meeting the growing demand for natural gas, especially in China where we are pleased to contribute to the diversification of the energy mix."



"The Shenergy Group is very pleased to sign this partnership agreement with Total, which secures a long-term, reliable supply of LNG for the Yangtze River Delta. The Joint Venture with Total will develop the LNG downstream market and support the objective of Shenergy Group to improve the air quality and reduce emissions in the region," said Mr. Wang Zhehong, Vice President of Shenergy Group and Chairman of Shanghai Gas.



The LNG supply to the JV and Shanghai gas distribution business will be sourced from global LNG portfolio of Total through a long-term LNG Sale and Purchase agreement ramping up to 1.4 million tons per annum for a term of twenty years. It will be delivered to Shenergy's Chinese LNG terminals.



About Shenergy Group



Shenergy (Group) Co., Ltd., founded in 1987, is a Shanghai-based state-owned company that is engaged in power generation, gas industry, finance, cable industry, energy service and trade. Its subsidiary Shanghai Gas integrates natural gas procurement, pipeline network distribution and sales services, which supplied 9.8 billion cubic meters of natural gas and served 6.3 million natural gas users in 2019.



Total, Second Largest Private Global LNG Player



Total is the world's second largest privately owned LNG player, with a global portfolio of nearly 50 Mtpa by 2025 and a global market share of around 10%. The Group benefits from strong and diversified positions throughout the LNG value chain: gas production and liquefaction, LNG transportation and trading, and contribution to the development of the LNG industry for maritime transport. Through its interests in liquefaction plants in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia and Angola, the Group markets LNG on all world markets.



About Total



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

[waldron] 23/3/2021 08:31

Paris, October 30, 2020 – The Board of Directors met on October 29, 2020, and declared the distribution of the third 2020 interim dividend at €0.66/share, stable compared to the first and second 2020 interim dividends. This interim dividend will be paid in cash exclusively, according to the following timetable:

Ex-dividend date March 25, 2021

Payment date April 1, 2021

[the grumpy old men] 22/3/2021 08:23

Total took note of the report: "Total fait du sale: La finance complice?" published by Reclaim Finance and Greenpeace. Given numerous inaccuracies and falsehoods in the report, Total provides the following clarifications based on documents published by Total, including Total's May 5, 2020 press release on Climate Ambition, Total's 2020 Climate Report and Total's September 2020 and February 2021 investor presentations.



1) Carbon neutrality ambition at a worldwide level



Firstly, while the report seeks to downplay the Climate ambition expressed by Total in its press release of May 5, 2020, it is useful to recall the first sentence of this press release : <<Total 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>>.



2) Ambition to reduce scope 3 emissions at a worldwide level



(page 12) <<Total SE does not provide any absolute emissions reduction target outside Europe >> - The report of Reclaim Finance and Greenpeace presents a graph that projects Total's scope 3 emissions would increase from 410 MT in 2015 to 500 MT in 2030. -- FALSE



Quoting the 2020 Climate Report, page 16: "For those scope 3 emissions, the Group is setting new 2030 targets: In Europe, a 30% reduction in absolute emissions from 2015 levels -- a major step toward neutrality by 2050. Worldwide, a reduction in absolute emissions from 2015 levels, despite the anticipated growth in customer energy demand over the decade to come".



Total has therefore committed that worldwide scope 3 indirect emissions in 2030 will be lower compared to 2015 -- this is a global emissions target that will not increase as the report by Reclaim Finance and Greenpeace incorrectly presents, but decrease. Total is the only major to have made such a commitment for an absolute reduction by 2030. This commitment is notably made possible by the 30% reduction target in scope 3 emissions in Europe by 2030, or more than 75 MT/year.



3) Ambition for carbon neutrality and emissions reduction at European level



(page 11) << Total SE operates in 130 countries and only 13% of Total SE's 2019 production, and corresponding scope 3 emissions, come from Europe, where the Group has committed to reducing the 3 scopes to zero. >> -- FALSE



Quoting again page 16 of Total's Climate 2020 report used as a reference by Reclaim Finance and Greenpeace: <<Europe accounts for around 60% of Total's scope 3 emissions>>. Contrary to the claim made by the authors, who seem to want to confuse Total's production in Europe (indeed 13% of its global production) and Total's sales in Europe, scope 3 indirect emissions of Total's customers in Europe do not represent 13% of emissions but 60% of Total's customers' emissions, or 256 MT out of 410 MT in 2015 (scope 1+2+3 global emissions in Europe represent 280 MT of 456 MT): Indeed it is the totality of these scope 1+2+3 emissions in Europe that carry the commitment of Total's carbon neutrality at the level of Europe in support of the Green Deal and the ambition of the continent.



4) Ambition to reduce carbon intensity at a worldwide level



(page 16) << This ambition is all the more inadequate since Total SE only takes into account the emissions related to the combustion of the products sold to its customers, thus knowingly forgetting (sic) the emissions related to the production and refinery or liquefaction operations, which represent up to 15% of its total emissions. >> - FALSE



Total includes the emissions related to production operations in its carbon intensity indicator as explicitly mentioned in Total's press release dated May, 5, 2020, to which Reclaim Finance and Greenpeace refer though: << 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) >>. The 1+2 scopes, which correspond to emissions related to Total's operations, are therefore well contained in this ambition. The definition of the carbon intensity indicator is also on page 17 of the Total's 2020 Climate Report: <<The indicator measures the average GHG emissions of these products per unit of energy across their entire life-cycle, from the time they are produced to their end use." Furthermore, as announced in the May 5, 2020 press release, Total has set an objective of net zero emissions across Total's worldwide operations by 2050 or sooner (scope 1+2) and announced in February 2021 the objective of reducing scope 1+2 emissions from global oil&gas operations by 40% by 2030 compared to 2015.



In conclusion, while Total respects the debate and the different views of various stakeholders and accepts that some NGOs may consider that the company's efforts are not sufficient, it is the everyone's responsibility, in a world where false news is a source of growing mistrust, that public communications should be guided by a concern for the truth. This is all the more true in terms of communication concerning listed companies, since the lack of sincerity is likely to mislead investors, since the Autorité des Marchés Financiers ensures compliance with the rules applicable in this area.

[waldron] 18/3/2021 16:20

ABB brought on board to power Total-led Mozambique LNG project

Oil & GasUpstreamField Development

By NS Energy Staff Writer 18 Mar 2021

The company will deliver an end-to-end electrification package for landmark natural gas project off the coast of Africa
Mozambique LNG

ABB’s 26-month project will culminate in a significant installed base in Mozambique for ABB. (Credit: Mozambique LNG)

CCS JV, comprising Saipem, McDermott and Chiyoda, has signed a deal with ABB to provide comprehensive inte-grated and intelligent electrical systems for the east-African Mozambique LNG field which is expected to start pro-duction by 2024. With LNG capacity of approximately 13 million tonnes per annum, the current development will spearhead crucial economic and social investment for Mozambique.

Brandon Spencer, President of ABB Energy Industries said, “Winning this project is a testament to ABB’s technical superiority in electrification technologies, as well as our highly skilled management and engineering capabilities. We are proud to be part of Africa’s economic growth story, especially Mozambique.”

ABB’s 26-month project will culminate in a significant installed base in Mozambique for ABB and will involve collaboration across multiple ABB divisions and regions, led by ABB in Singapore. Fourteen large onshore electrical houses (e-houses) or prefabricated electrical substation buildings (PESB) – specifically designed for oil and gas applications, will be built by ABB team in Singapore and transported to the Mozambique LNG Project site.

The company will also integrate its electrical control and power management system alongside 110kV gas-insulated switchgears (GIS), medium voltage switchgears (33kV, 11kV) and low voltage switchgears.

Johan de Villiers, Global Vice President, Oil and Gas commented: “We have optimized and customized our solutions to meet the specific technical and capital expenditure requirements of the customer. With ABB as the main original equipment manufacturer (OEM) for electrical systems, Mozambique LNG Project will benefit in terms of cost-effi-ciency, maintenance, service as well as upgrades and expansions.”

Source: Company Press Release

[the grumpy old men] 18/3/2021 08:48

Total SE said Thursday that its board of directors has decided to renew the mandate of its Chairman and Chief Executive Officer Patrick Pouyanne until 2024.

The extension of Mr. Pouyanne's term will depend on the renewal of his director's mandate at the shareholders' meeting in May, the French oil-and-gas company said.

Total also said that it will propose Mr. Jacques Aschenbroich, who is chairman and CEO of French car supplier Valeo SA, as a director for a duration of three years. If approved by shareholders, Mr. Aschenbroich would replace Carlos Tavares who wished to stand down from the board in 2020.



Write to Olivia Bugault at [e-mail]



(END) Dow Jones Newswires

March 18, 2021 04:10 ET (08:10 GMT)

[waldron] 18/3/2021 08:00

18 Mar 2021 | 04:36 UTC Dubai

Iraq, Total mull joint work on associated gas, solar power projects: minister

Author Dania Saadi Editor Pritish Raj Commodity Electric Power, Natural Gas, Oil

Highlights

Two sides in talks about gas projects in three provinces

Iraq, Total discuss financing for oil infrastructure

Iraq wants to lower dependence on Iranian gas, electricity

Dubai — Iraq and French oil major Total are in talks to jointly work on developing associated gas and solar power projects, the country's oil minister said March 17, as OPEC's second largest producer seeks to reduce dependence on Iranian energy imports needed for power generation.
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Iraq and Total, which signed on Jan. 27 a memorandum of understanding for developing "big projects", want to cooperate on associated gas projects in Ratawi in the south, Diyala in the east and Anbar in the northeast, Ihsan Ismaael said in a ministry statement.

Iraq's oil minister and a Total delegation also discussed potential development of solar power projects in the country's central and southern provinces. The two sides also discussed Total's potential support and financing of oil infrastructure projects.

Iraq is trying to lower its dependence on Iranian gas and electricity imports as it comes under increasing US pressure. Since the US imposed sanctions on Tehran's energy sector in 2018, Iraq has been receiving waivers from Washington to continue importing energy from Iran.

Iraq needs Iranian energy imports to avert acute power shortages that have led to protests in the past, especially in the hot summer months when temperatures can reach 50 C in the south.

Quota restrictions

Iraq mainly produces gas that is pumped with oil, which is subject to OPEC+ quota restrictions, limiting the amount that can be used for power generation. Iraq also plans to capture associated gas that is mostly burned, with the country branded as the world's second worst gas flaring nation after Russia in 2019, according to a World Bank report.

Iraq has plans to import electricity from Saudi Arabia, the six-member Gulf Cooperation Council, Turkey and Jordan and is also mulling developing solar power projects to help plug power shortages.

Total has limited operations in Iraq compared to other oil majors such as ExxonMobil, Eni and BP.

The French company has a 22.5% stake in Halfaya oil field in Missan province in the south and also holds an 18% stake in Sarsang exploration block in the semi-autonomous Kurdistan region in the north.

[maywillow] 17/3/2021 06:51

Uganda's state oil company is seeking up to $130 million from the treasury to fund part of its equity contribution ahead of the planned construction of an oil-export pipeline through Tanzania, Finance Minister Matia Kasaija said Wednesday.

The funds, among others, will be used to compensate landowners along the 900-mile pipeline route, as France's Total SE closes in on a final investment decision for the $3.5 billion project. It is a boost for the much-delayed project, which is expected to transport about 200,000 barrels a day of Ugandan crude to the Tanzanian port of Tanga on the Indian Ocean, starting 2024.

"This money is needed before international oil companies make a final investment decision in the next few weeks, we have to move quickly," Mr. Kasaija said.



Write to Nicholas Bariyo at [e-mail]



(END) Dow Jones Newswires

March 17, 2021 01:54 ET (05:54 GMT)

[waldron] 16/3/2021 08:34

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Forêt Ressources Management have signed a partnership agreement with the Republic of the Congo to plant a 40,000-hectare forest on the Batéké Plateaux.



The new forest will create a carbon sink that will sequester more than 10 million tons of CO(2) over 20 years, to be certified in accordance with the Verified Carbon Standard (VCS) and Climate, Community & Biodiversity (CCB) standards. The project, financed by Total, includes agroforestry cultures developed with the local communities for agricultural production and sustainable wood energy. By 2040, responsible management through selective cutting will promote the natural regeneration of local species and provide Brazzaville and Kinshasa with lumber and plywood.



"With this project on the Batéké Plateaux, Total is committing to the development of natural carbon sinks in Africa. These activities build on the priority initiatives taken by the Group to avoid and reduce emissions, in line with its ambition to get to net zero by 2050. They will also help to showcase the Congo's natural potential and to extend our long-term partnership with the country, where we have been present for fifty years, " said Nicolas Terraz, Senior Vice President Africa, Exploration & Production at Total.



"We want to develop these projects with recognized partners, such as FRM, who have a great deal to teach us, while concerting with relevant regions to anchor our commitment in the long term and contribute to local development," added Adrien Henry, Vice President Nature Based Solutions at Total.



The project is designed to produce multiple social, economic and environmental benefits. The planting of Acacia mangium and auriculiformis trees on sandy plateaux exposed to recurring bushfires will create a forest environment that will ultimately help broaden the ecosystems' biodiversity. The project will create employment opportunities, with a positive impact on several thousand people. In addition, a local development fund will support health, nutritional and educational initiatives to benefit neighboring villages.



"The more than 10 million hectares of land reserves on the Congo's Batéké Plateaux offer a fantastic way to combat climate change at the global level and a unique opportunity for sustainable socio-economic development in isolated regions of the country," noted Bernard Cassagne, Chairman and CEO of Forêt Ressources Management.



"This ambitious and exemplary project is part of PRONAR, the national afforestation/reforestation program launched in 2011 to expand the country's forest cover and increase carbon storage capacity, create new wood-based businesses to diversify the national economy, and foster the emergence of a green economy in the Republic of the Congo," concluded Rosalie Matondo, Minister of the Forest Economy of the Republic of the Congo.

About Forêt Ressources Management



The Forêt Ressources Management Group (FRM) is a major player in the wood, forestry and agroforestry plantation sector in Africa. FRM has more than 30 years of experience in forestry, tropical forests and consulting services for the wood industry. The CEO and his team of engineers have forged strong ties with forestry companies, the forest products and wood industries, local authorities, civil society and international lenders in numerous countries with major forestry challenges to manage existing resources or develop new resources through tree-planting programs.

About Total Nature Based Solutions



In line with its ambition to get to net zero emissions by 2050 and alongside its initiatives to avoid and reduce emissions, Total announced the creation of its new Nature Based Solutions (NBS) unit in June 2019 to develop natural carbon sinks to sequester the remaining tons of CO(2) from its operations. Backed by an annual budget of $100 million, Total's objective is to participate in the development of sustainable sequestration capacity of at least 5 million tons of CO(2) per year from 2030, while contributing to the preservation of biodiversity, and the sustainable development of local communities.

About Total



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



Present in the Republic of Congo for more than 50 years, Total is the country's leading energy producer and distributor.

[ariane] 15/3/2021 08:52

Total: HSBC raises its target price from EUR 43.20 to 48.80.

[ariane] 15/3/2021 08:34

Total Wins Singapore LNG Bunker Supplier License
15 March 2021 - 07:51AM
Dow Jones News

By Joshua Kirby


Total SE said Monday that it has won a liquefied-natural-gas bunker supplier license in Singapore, adding to existing agreements in the city-state.

Singapore's Marine and Port Authority awarded Total's global bunkering subsidiary, Total Marine Fuels Private Ltd., a third bunker suppler license, the French energy company said. The license follows a 10-year agreement signed in 2019 under which Total agreed to develop an LNG bunker supply chain in the port of Singapore.

The license will begin on Jan 1., 2022, and last for five years, Total said.



Write to Joshua Kirby at [e-mail]; @joshualeokirby



(END) Dow Jones Newswires

March 15, 2021 03:36 ET (07:36 GMT)

[waldron] 14/3/2021 11:27

subsurface
14 Mar '21 - 11:13 - 53646 of 53647
0 0 0
well on the way Bozza



mccracken227
14 Mar '21 - 11:21 - 53647 of 53647
0 0 0
Thanks to overeager on ECO board, maybe kick start Guyana drilling again

[misca2] 12/3/2021 13:01

In a research note published by Jon Rigby, UBS gives a Neutral rating to the stock. The target price is revised upwards