Total Share Discussion Threads

[florenceorbis] 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.

[ariane] 10/2/2018 16:06

After an excellent vintage 2017, Total cajole its shareholders
The Income on 09/02/2018 at 08:28
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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.

[la forge] 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 [e-mail]



(END) Dow Jones Newswires

February 08, 2018 13:50 ET (18:50 GMT)

[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.

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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.

[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 [e-mail]



(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: [phone] [e-mail] @TotalPress or Investors Relations: [phone] [e-mail]




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)

[waldron] 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 [e-mail]



(END) Dow Jones Newswires

February 08, 2018 03:10 ET (08:10 GMT)

[grupo guitarlumber] 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.

[maywillow] 06/2/2018 22:55

08/02/18 | 11:30 Année 2017 Présentation des résultats

[ariane] 06/2/2018 15:42

News ID: 209549
Published: 0156 GMT February 06, 2018
Total CEO considers measures to protect European business in Iran
Total CEO considers measures to protect European business in Iran
Photo Credit: Total
In a major interview given to French newspaper Le Monde looking at Total’s strong performance in 2017, CEO Patrick Pouyanné was asked about the “American threat” to the company’s “important gas project” in Iran.

Pouyanné̵7;s forthright response marks perhaps the first time that a major European executive has publicly called for a diplomatic intervention to protect commercial interests in Iran.

Total’s CEO explained that the South Pars project was “progressing well, without delay, and [Total] continues to work, even if the situation with the American Congress is rather vague.” He noted that even if the Americans “decide to exit the nuclear agreement and if secondary sanctions return in place,” it would pose a “real question” for the French energy giant.

However, echoing comments made to reporters on the sidelines of Davos, Pouyanné did not cast snapback as an automatic game-over for the South Pars project. Rather, he suggested that it was necessary to “clarify the horizon for European business working in Iran.”

He explains that Total has been in discussions with French and European authorities about “means to protect investments already made in Iran, even in the case of the return of sanctions.”

Pouyanné points to the experience of European blocking statutes and sanctions waivers applied in the 1990s which proved sufficient to protect Total’s gas projects at the time.

Pouyanné concludes by noting that it is “up to European diplomats to consider these questions.”

The landmark USD 3.8 billion South Pars project is seen as a bellwether for the larger project of Iran’s post-sanctions economic recovery.

However, Total is far from the only major European multinational engaged in the Iranian market.

Pouyanne was one of select group of European CEOs invited to dine with Donald Trump at a special dinner held during the American President’s trip to the World Economic Forum in Davos.

Other guests included Siemens CEO Joe Kaeser, ABB CEO Ulrich Spiesshofer and Volvo CEO Martin Lundstedt.

Overall, nine of the fifteen companies represented at the dinner are currently active in Iran, and a further five have had a historical presence in the market.

Pouyanné̵7;s peers are likely to share his sentiments on the need to protect European interests in Iran and the wider global economy.

While the legal value of blocking statutes or sanctions waivers is questionable given the greater interconnectivity in global markets and greater reticence of the banking sector to engage Iran when compared to the 1990s, the political message behind such measures could be valuable, enabling companies to seek creative solutions to structure their Iran engagements in a way that avoids sanctions exposure.

In a recent survey conducted by Bourse & Bazaar and commissioned by International Crisis Group, a substantial 54 percent of senior executives indicated that “assuming Iran remains committed to the nuclear deal,” blocking statutes, which would protect companies from US penalties, would positively affect the “decision to invest in Iran.”

bourseandbazaar.com