Total Share Discussion Threads

[waldron] 02/8/2018 16:57

Total
54.95 -0.96%

Engie
13.44 -0.74%

Orange
14.485 -0.69%


FTSE 100
7,575.93 -1.01%
Dow Jones
25,237.48 -0.38%
CAC 40
5,460.98 -0.68%

Brent Crude Oil NYMEX 73.37 +1.06%
Gasoline NYMEX 2.07 +0.92%
Natural Gas NYMEX 2.83 +2.95%




Shell A
2,531.5 -1.48%


Shell B
2,584.5 -1.39%

556.20-7.00 (-1.24%)BP

[la forge] 02/8/2018 14:05

2 August 2018
News
Oil giants form tech collaboration to unlock small North Sea pools
By Talal Husseini
Share

Major oil and gas firms have announced a new collaborative project that will use technology to unlock resources from small North Sea pools.

The Oil and Gas Technology Centre and Crondall Energy will fund the Facility of the Future initiative, which includes industry giants such as Premier Oil, Total, Lloyds Register, Siemens, Wartsila, Ampelmann and BW Offshore.

The new technology, a reusable production buoy concept that extends the life of offshore wells, could be used to exploit and unlock smaller oil prospects.

Crondall Energy managing director Duncan Peace said: “New process and automation technology is playing a critical role in reducing the size and cost of offshore facilities and reducing the offshore man-hours required for their operation and maintenance.

“What makes our concept unique is the integration of these process and automation technologies with Crondall’s patented floating production concept, to deliver a material reduction in both the size of facilities and the level of manning. Together these innovations offer the opportunity to deliver a step change in lifecycle economics.

The alliance said it will test the technology on a smaller field in the North Sea, in 150m water depth, producing 20,000 barrels of oil per day with a low to medium gas-oil ration.

Peace added: “The diverse group of industrial sponsors brings a wealth of expertise and insights to the table and we’re excited to be able to work with them to improve the economics of offshore developments.”
Unlocking small North Sea pools

Crondall Energy developed the production buoy technology and its subsidiary, Buoyant Production Technologies, will lead the study and see how it can be applied more widely to North Sea marginal fields with a minimally manned compact FPSO vessel.

Oil & Gas Technology Centre Marginal Discoveries Solution Centre manager Chris Pearson said: “According to Wood Mackenzie there are 27 billion economically-challenged barrels globally. This is an opportunity for the North Sea to develop and export that technology and expertise to other parts of the world.

“Marginal discoveries represent a significant opportunity to maximise economic recovery from the UKCS, but we need a new, smarter approach to field developments if we’re to make it a reality.”

Pearson said that the initiative will help to reduce life-cycle costs and strengthen the case for investments, adding that the concept is to “disassemble and reuse production facilities”, rather than decommission them.

[la forge] 02/8/2018 13:58

The Winners And Losers This Earnings Season
By Tsvetana Paraskova - Aug 01, 2018, 5:00 PM CDT Oil jack

Higher oil prices this year boosted the earnings of all five Big Oil firms in the second quarter, but despite the increased profits, not all five oil supermajors—Exxon, Chevron, Shell, BP, and Total—fared equally as well in Q2, and clear winners and losers emerged from the earnings reports this past week.

The three European majors fared better than the two U.S. oil companies.

Among Europe’s Big Oil, BP and Total beat profit forecasts, while Shell’s earnings fell short of analyst expectations. Shell, however, announced the launch of a much-anticipated share buyback program.

The two U.S. supermajors disappointed with earnings below estimates, but Chevron—unlike Exxon—was spared the wrath of investors and the stock market after it also announced share repurchases.

Last week, France’s Total reported a 44-percent increase in second-quarter net profit on the back of record-high quarterly oil and gas production. Total beat analyst estimates, and said that its upstream is well positioned to take advantage of the rising oil prices as it expects production to grow by more than 7 percent this year.

Of the five Big Oil firms, Total’s shares rose the most on the day of its Q2 results announcement, a sign that investors and shareholders liked what they saw in the second-quarter performance and outlook for the rest of the year.

BP also pleased investors when it reported on Tuesday quadrupled second-quarter earnings from a year ago and announced the first dividend increase since the oil prices started crashing in 2014.
Related: Coke, Meth And Booze: The Flip Side Of The Permian Oil Boom

Last week BP had its investors briefly worried that it would break its financial framework when it announced a US$10.5-billion acquisition of U.S. shale assets from BHP, BP’s chief executive Bob Dudley told Bloomberg television. But the company assured investors that it would stick to its US$15-17 billion capital budget frame, divest other assets to offset the cost for the BHP deal, and increase distribution to shareholders, Dudley said. BP continues to plan budgeting at oil prices in the $50-65 a barrel range, rather than these higher prices, Dudley said, reiterating Big Oil’s favorite adjective to describe capital spending these days: disciplined.
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The third European major of Big Oil’s five—ShellR12;reported lower-than-expected profits for Q2, but on the bright side, it announced a share buyback program of at least US$25 billion in 2018-2020, subject to further progress with debt reduction and oil price conditions.

“Our financial framework remains unchanged. Our free cash flow outlook and the progress we have made to strengthen our balance sheet give us the confidence to start our share buyback programme,” Shell’s chief executive Ben van Beurden said.

Shell’s shares fell the most among Big Oil’s on the day of its earnings and share repurchase announcement, as the focus on debt reduction could mean a slower start to share buybacks.

Apart from Shell, investors also punished Exxon on the day of its Q2 results release. Exxon disappointed, for yet another quarter, after missing again analyst expectations, and reporting its lowest production in a decade. Investors and analysts were disappointed not only by the earnings miss, but also by the lack of any share buyback announcement or hint for such.
Related: PetroChina Sees Huge Boost In Profit

The other U.S. supermajor, Chevron, also missed earnings estimates, but announced last Friday much-awaited share repurchases, and saw its shares rise despite the profit miss.

Despite the rallying oil prices over the past year, shares in Big Oil companies have not risen as much as the price of oil, and have been lagging—and in some cases like Exxon significantly underperforming̵2;broader market indexes and energy-heavy exchange traded funds (ETFs). According to Bloomberg data, BP has shown the biggest average annual returns of nearly 11 percent, while Exxon’s have been a negative 1.25 percent.

Although profits are surging and buybacks are being announced or already carried out across the board, Big Oil still has work to do (and cash to distribute) to convince shareholders they are still a ‘world-class investment case’ as Shell’s van Beurden says about the company he leads.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

[waldron] 01/8/2018 17:04

Total
55.48 -0.68%

Engie
13.54 -1.99%

Orange
14.585 -0.21%

FTSE 100
7,652.91 -1.24%
Dow Jones
25,388.11 -0.11%
CAC 40
5,498.37 -0.23%


Brent Crude Oil NYMEX 72.54 -2.05%
Gasoline NYMEX 2.05 -1.42%
Natural Gas NYMEX 2.77 -0.29%

2,621.00-50.50 (-1.89%)RDSB

2,569.50-45.50 (-1.74%)RDSA


563.20-10.10 (-1.76%)BP

[waldron] 31/7/2018 17:06

Total
55.86 +1.29%


Engie
13.815 +0.11%

Orange
14.615 +0.10%

FTSE 100
7,748.76 +0.62%
Dow Jones
25,436.56 +0.51%
CAC 40
5,511.3 +0.37%


Brent Crude Oil NYMEX 74.80 -0.84%
Gasoline NYMEX 2.09 -1.31%
Natural Gas NYMEX 2.81 +0.46%



BP
573.3 +1.38%



Shell A
2,615 +0.65%


Shell B
2,671.5 +0.93%

[waldron] 31/7/2018 11:57

Total Reviving Angola's Oil Sector
Jul. 31, 2018 6:06 AM ET |
About: TOTAL S.A. (TOT), Includes: BP, EQNR, GLPEF, SNP, XOM
Callum Turcan
Callum Turcan
Oil & gas, long-term horizon, Growth, Deep Value
LinkedIn Profile
(3,700 followers)
Summary

Angola's oil production has moved significantly lower over the past few years.

How Total and its partners are attempting to reverse that trend.

New fiscal framework for smaller fields key to getting bolt-on projects approved.

As part of the OPEC+ agreement, Angola agreed to keep its crude output at or below 1.673 million barrels per day. Since the agreement came into force at the start of 2017, Angola has been exceeding its mandate, as it was pumping out only 1.4-1.5 million bpd by mid-2018. However, this isn't by choice, as the oil-exporting nation is grappling with steep production declines from offshore developments, including the decreases seen at the Pazflor and Saturno facilities. Keep in mind, the nation was close to producing 2 million bpd back in 2008. Total SA (NYSE:TOT) is leading the charge on two major projects that may revive Angola's oil production. Let’s dig in.

For reference, Total produced 229,000 BOE/d net in Angola last year. That production was made possible through four FPSO vessels and the onshore Angola LNG facility, of which Total owns 13.6%. Having the ability to export natural gas to markets that will pay Brent-linked/influenced prices means associated gas production becomes a lot more valuable.

Source: Total
First half of the Kaombo project now operational

Located within Angola’s deepwater Block 32, the Kaombo development seeks to tap ~650 million barrels of oil equivalent (Total refers to these as reserves, so I’m assuming all of that will be recovered) spread out across six oil & gas fields underneath 4,800-6,400 feet of water. 185 miles of subsea gathering infrastructure will connect the Caril, Louro, Gengibre, Mostarda, Canela, and Gindungo fields to the two FPSO vessels (floating production storage and offloading) that will recover those resources.

First oil was originally targeted for 2017, but that timetable had to be pushed back until this July. The Kaombo Norte FPSO vessel didn’t leave Singapore until March 2018 and arrived in Angola by late April. As an aside, the two FPSO vessels Total is using to develop these resources are converted oil carriers (VLCCs, to be specific). Each vessel has 115,000 bpd of oil-treating capacity, 100 MMcf/d of gas compression capacity, 200,000 bpd of water injection capacity, and 1.7 million barrels of crude oil storage capacity.

Total owns 30% of the Kaombo development and is the operator of the venture. Its partners include the state-owned Sonangol P&P (30% interest), the Chinese energy giant Sinopec (NYSE:SNP) (20%), a subsidiary of Exxon Mobil Corporation (NYSE:XOM) (15%), and Portuguese-based Galp Energia (OTC:GLPEF) (5%). Development costs were pegged at US$16 billion in 2014, which may have crept higher after the delays.

In late July, the company was happy to announce that the Kaombo Norte FPSO had started producing, but readers should note it will take several months, probably close to a year, to ramp up output to full capacity. Oil will be exported to foreign markets, while gas will be piped to the onshore Angola LNG facility and will then be exported to foreign markets.

An API gravity rating and other specifications weren't given for the crude that will be pumped from these fields. Based on the crude types produced at nearby fields, these are probably going to be medium sweet oil barrels.

It won’t be until 2019 that the Kaombo Sur FPSO will start producing, so it is very likely it will be until 2020 that Block 32 produces 230,000 barrels of crude per day. Water injection wells are being utilized to maintain reservoir pressure and manage the production decline of the development’s producing wells.
Another project approved

Total is leading the charge on the Zinia 2 project in Block 17 (located adjacent to Block 32), which envisions sustaining production processed through the Pazflor FPSO. Located between 2,000-4,000 feet of water, the Zinia 2 development will target satellite resources through nine wells (likely a combination of producer and water injection wells) that will be tied back to the Pazflor FPSO. This project is expected to have a development cost of $1.2 billion USD and will sport a peak production rate of 40,000 BOE/d.

While the project was only just approved in May 2018, as a bolt-on development this short-cycle endeavor will take a lot less time to complete than a greenfield project. Leveraging existing infrastructure dramatically cuts down on development times, especially when it comes to offshore conventional projects.

Total owns 40% of Block 17 and is the operator of the offshore concession, and its partners include Equinor ASA (NYSE:EQNR) (23.33%), Exxon Mobil (20%), BP plc (NYSE:BP) (16.67%), and Sonangol as the concessionaire. These are also likely to be medium sweet crude volumes, based on the quality of previous Pazflor FPSO oil sales.

A key factor in the consortium reaching a positive final investment decision on the Zinia 2 project was a reduction in Angola’s petroleum production tax and petroleum income tax for marginal fields. These are fields with less than 300 million barrels of oil equivalent in reserves, such as the satellite resources being developed through Zinia 2. For these marginal fields, the petroleum production tax is now 10%, down from 20% previously, and the petroleum income tax has been moved down to 25%, versus 50% previously. Total made sure to mention the tax cuts, approved by Angola's government in early 2018, in its press release announcing the sanctioning of Zinia 2.
Final thoughts

Total is playing a major role in halting the decline in Angola’s oil output, but more projects are needed to fully offset losses at mature fields. The Angolan government is hoping the new and improved fiscal framework for marginal fields will encourage more bolt-on developments getting approved. We’ll see how this pans out. Thanks for reading.

Author’s note: Some of the companies mentioned above don’t trade on a major U.S. stock exchange, which come with their own sets of risks and rewards. Always do your own due diligence before investing.

Disclosure: I am/we are long BP.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

[adrian j boris] 30/7/2018 22:20

Total: Strong Q2 Results, Good Long-Term Potential
Jul. 30, 2018 1:55 PM ET|
2 comments
|
About: TOTAL S.A. (TOT)
Power Hedge
Power Hedge
Macro, energy, alternative energy, contrarian
(3,428 followers)
Summary

Total missed analyst consensus earnings, but the results were not really that bad.

The company showed strong production growth year-over-year, although gas production was down slightly.

Total managed to boost its free cash flow significantly QOQ.

The company looks likely to grow its production and cash flow further over the remainder of the year.

On Thursday, July 26, 2018, French oil and gas supermajor Total S.A. (TOT) announced its second quarter 2018 earnings results. The initial headline numbers were rather disappointing, with the company missing the analyst consensus earnings. However, a more in-depth look at the earnings announcement shows that the company actually performed quite well and will likely please most investors in it. The company is overall a strong player in the energy sector, a fact that is reinforced by these results.

As my long-time readers are no doubt well aware, it is my usual practice to share the highlights from a company's earnings report before delving into an analysis of its results. This is because these highlights provide background for the remainder of the article as well as serve as a framework for the resultant analysis. Therefore, here are the highlights from Total's second quarter 2018 earnings results.

Total had total sales of $52.540 billion in the second quarter of 2018. This represents a 31.6% increase over the $39.915 billion that the company brought in during the second quarter of 2017.
The company completed the acquisition of Engle LNG following the close of the second quarter. This transaction makes the company the second largest supplier of LNG in the world.
Total produced an average of 2.717 million barrels of oil equivalent in the second quarter of 2018. This represents a 9% increase over the year-ago quarter.
The company reported an operating cash flow of $6.246 billion in the second quarter. This represents a 35% increase over the $4.640 that the company reported in the prior year quarter.
Total reported a net income of $3.721 billion in the second quarter of 2018. This is an 83% increase over the year-ago quarter. It also works out to $1.31 per diluted share.

Without a doubt, the first thing that a reader perusing these highlights is likely to notice is the company's large year-over-year revenue increase. One reason for this is that energy prices increased dramatically compared to the prior year quarter due at least partly to rising geopolitical tensions. In the second quarter of last year, Total received an average of $49.60 per barrel of oil that it sold. The same figure was $74.40 in the most recent quarter, a 50% increase. As can be expected, the fact that the company received more money for every barrel would naturally boost the company's revenues if production remained at least steady. In addition, oil prices were not the only energy price to increase either. As shown here, the price of natural gas was also higher than in the year-ago quarter.

Source: Total S.A.

As is the case with many European energy companies, Total produces a significant amount of natural gas. Thus, the increase in this unit price also proved to have a significant impact on the company's total revenues.

As mentioned in the highlights, Total boosted its total production year-over-year, which was another factor in the company's improved financial performance year-over-year. However, this production growth was not uniform. As we see here, oil production increased year-over-year while gas production actually went down.

Source: Total S.A.

Although gas production went down, the increase in oil production was much greater, so the company's total production increased. It makes sense why a production increase would be beneficial for the company's top line; after all, a higher production would give the company more products to sell. When combined with the higher across-the-board prices, we get the revenue boost that we saw in the quarter.

In my last report on Total's earnings results, I was cautious about the impact that the company's capital expenditures were having on its free cash flows. As mentioned in the highlights, Total had an operating cash flow of $6.246 billion in the second quarter of 2018. The company reported total organic investments of $2.780 billion in the quarter. This gives the company a free cash flow of $3.466 billion, which is a significant improvement over the first quarter of this year. This effectively frees up money that the company can use for other purposes, such as financing its generous dividend.

Total looks likely to grow and improve itself over the remainder of the year, which will be to the benefit of the company's shareholders. Over the coming months, the company will start production at several of the growth projects that it has been working on over the past few years. These projects include Kaombo, Tempa Rossa, Ichthyus, and Egina. In addition, the company will be ramping up production at a few of the projects that recently started production such as Yamal LNG, Fort Hills, and Timimoun. Through these efforts, Total should achieve average production levels in 2018 that are approximately 7% higher than 2017 levels. Barring a decline in oil prices, which seems highly unlikely, this should result in stronger cash flow levels than what Total has seen over the past few years.

The company is also taking further steps to boost its cash flows. During the recent period of low oil prices, Total embarked on a program meant to improve its efficiency and reduce its costs. Although oil prices have recovered, the company has continued its work on implementing the program. The company expects to achieve total cost reductions of $4.2 billion through this program compared to 2014 levels. This should, therefore, also have a positive impact on the company's operating cash flows and also free up cash for other purposes.

In conclusion, the company's second quarter results were actually quite good despite the earnings miss. Total saw improving cash flows in the quarter that should continue to improve as the company grows its production and reduces its costs over the remainder of the year. Overall, this looks like a strong and well-positioned energy major.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

[waldron] 30/7/2018 17:38

Total
55.15 +0.27%

Engie
13.8 -2.47%

Orange
14.6 -0.21%

FTSE 100
7,700.85 -0.01%
Dow Jones
25,343.8 -0.42%
CAC 40
5,491.22 -0.37%


BP
565.5 -0.32%


Shell A
2,598 -0.04%


Shell B
2,647 -0.53%


Brent Crude Oil NYMEX 75.59 +1.00%
Gasoline NYMEX 2.12 -0.11%
Natural Gas NYMEX 2.79 +0.18%

[waldron] 27/7/2018 17:24

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has started up production of Kaombo, currently the biggest deep offshore development in Angola, located on Block 32, 260 kilometers off the coast of Luanda.



Kaombo Norte, the first Floating Production Storage and Offloading (FPSO) unit, has been successfully brought on stream and will produce an estimated 115,000 barrels of oil per day, while the second one, Kaombo Sul, is expected to start up next year. The overall production will reach an estimated 230,000 barrels of oil per day at peak and the associated gas will be exported to the Angola LNG plant. A total of 59 wells will be connected to the two FPSOs, both of which are converted Very Large Crude Carriers, through one of the world's largest subsea networks. Together, they will develop the resources of six different fields (Gengibre, Gindungo, Caril, Canela, Mostarda and Louro) over an area of 800 square kilometers in the central and southern part of the block.



"The Kaombo start up is a great milestone for Total. Developing the estimated 650 million barrels of reserves will contribute to the Group's growing production and cashflow in Africa," stated Arnaud Breuillac, President Exploration & Production at Total. "Total is proud to build on its deep offshore expertise to operate the latest major project coming on stream in Angola, which will account for 15% of the country's oil production. Once more, this demonstrates the Group's long-term commitment to help develop the oil and gas industry in the country. We will continue doing so in the years to come, including by relaunching exploration in areas such as Block 48."



Total operates Block 32 with a 30% participating interest, along with Sonangol P&P (30%), Sonangol Sinopec International 32 Limited (20%), Esso Exploration & Production Angola (Overseas) Limited (15%) and Galp Energia Overseas Block 32 B.V. (5%).



Total in Angola



Present in Angola since 1953, Total is the country's leading oil operator. Total's production averaged 229,000 barrels of oil equivalent per day in 2017 from Blocks 17, 14 and 0, as well as Angola LNG.



In addition to the Kaombo project on Block 32, Total also operates Block 17 (with a 40% interest) where an investment decision was recently taken on the Zinia 2 project.



Total is also a partner in Blocks 14 (20%), 14K (36.75%) and 0 (10%), as well as Angola LNG (13.6%).



Last May, the Group signed a risk service agreement with Sonangol for the deepwater Block 48 exploration license, which Total will operate.



On that same occasion, both companies also signed a framework agreement to create a joint venture to develop a network of service stations in Angola, including petroleum product logistics and supply.

[waldron] 27/7/2018 17:09

Total
55 +1.85%

Engie
14.15 +2.46%

Orange
14.63 +2.31%

FTSE 100
7,701.31 +0.50%
Dow Jones
25,547.59 +0.08%
CAC 40
5,511.76 +0.57%



Brent Crude Oil NYMEX 75.23 +0.36%
Gasoline NYMEX 2.13 +0.87%
Natural Gas NYMEX 2.79 +1.12%



BP
567.3 +0.50%


Shell A
2,599 +0.89%


Shell B
2,661 +1.31%

[waldron] 26/7/2018 17:31

Total
54 +2.27%

Engie
13.81 +2.26%

Orange
14.3 +2.29%


FTSE 100
7,663.17 +0.06%
Dow Jones
25,555.64 +0.56%
CAC 40
5,480.55 +1.00%


Brent Crude Oil NYMEX 74.49 +0.59%
Gasoline NYMEX 2.11 +1.06%
Natural Gas NYMEX 2.76 +0.22%

BP
564.5 -0.27%

Shell A
2,576 -3.05%


Shell B
2,626.5 -3.61%

[waldron] 26/7/2018 17:12

Total SA (FP.FR) said Thursday that its venture-capital arm has signed an agreement with NIO Capital to cooperate and invest in China's mobility sector.

The focus of the partnership will include electric vehicles, autonomous driving and connected vehicles, Total said.

NIO Capital is a fund manager affiliated with Chinese auto maker NIO, which produces electric vehicles for the Chinese market.



Write to Nathan Allen at [e-mail]



(END) Dow Jones Newswires

July 26, 2018 10:32 ET (14:32 GMT)

[the grumpy old men] 26/7/2018 10:31

In accordance with the Board of Directors decision of February 7, 2018 regarding the 2018-20 shareholder return policy, the second 2018 interim dividend is set at 0.64 euro per share, an increase of 3.2% compared to the three interim dividends and the final dividend paid for the 2017 fiscal year. This interim dividend is stable compared to the first 2018 interim dividend.



The Board of Directors will meet on December 12, 2018, to declare the conditions of this second 2018 interim dividend payment.



According to the fourth resolution adopted by the Combined General Meeting of June 1, 2018, the option to pay this second 2018 interim dividend in new shares of the company will be proposed and the payment will be made according to the following timetable:



Ex-dividend date December 18, 2018



Period to elect to receive December 18, 2018 to



the payment in new shares January 2, 2019



Payment date in cash January 10, 2019



or shares issued in lieu of cash



Holders of Total's American Depositary Receipts ("ADRs") will receive the second 2018 interim dividend in dollars based on the then-prevailing exchange rate according to the following timetable:



ADR ex-dividend date December 14, 2018



ADR record date December 17, 2018



ADR payment date in cash January 17, 2019



or shares issued in lieu of cash



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.

[the grumpy old men] 26/7/2018 10:31

In accordance with the Board of Directors decision of February 7, 2018 regarding the 2018-20 shareholder return policy, the second 2018 interim dividend is set at 0.64 euro per share, an increase of 3.2% compared to the three interim dividends and the final dividend paid for the 2017 fiscal year. This interim dividend is stable compared to the first 2018 interim dividend.



The Board of Directors will meet on December 12, 2018, to declare the conditions of this second 2018 interim dividend payment.



According to the fourth resolution adopted by the Combined General Meeting of June 1, 2018, the option to pay this second 2018 interim dividend in new shares of the company will be proposed and the payment will be made according to the following timetable:



Ex-dividend date December 18, 2018



Period to elect to receive December 18, 2018 to



the payment in new shares January 2, 2019



Payment date in cash January 10, 2019



or shares issued in lieu of cash



Holders of Total's American Depositary Receipts ("ADRs") will receive the second 2018 interim dividend in dollars based on the then-prevailing exchange rate according to the following timetable:



ADR ex-dividend date December 14, 2018



ADR record date December 17, 2018



ADR payment date in cash January 17, 2019



or shares issued in lieu of cash



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.

[the grumpy old men] 26/7/2018 10:28

PARIS (Agefi-Dow Jones) - Oil and gas giant Total announced Thursday the signing of an agreement to acquire from KKR-Energas two combined cycle natural gas (CCGT) plants in France, in the north and east of the country, which represents an electrical generating capacity of approximately 825 megawatts (MW).


Total aims to achieve within 5 years, 15% of the market for the supply of gas and electricity to individuals in France and Belgium, said the group in a statement.


Through its 73% stake in Direct Energie, Total also has a capacity of 800 MW through two 400 MW plants each in France and Belgium, to which will be added 400 MW capacity currently planned in Brittany, said the energy specialist.


-Alice Doré, Agefi-Dow Jones; [phone]; [e-mail]; ed: ECH


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


July 26, 2018 04:00 ET (08:00 GMT)

[the grumpy old men] 26/7/2018 10:28

PARIS (Agefi-Dow Jones) - Oil and gas giant Total announced Thursday the signing of an agreement to acquire from KKR-Energas two combined cycle natural gas (CCGT) plants in France, in the north and east of the country, which represents an electrical generating capacity of approximately 825 megawatts (MW).


Total aims to achieve within 5 years, 15% of the market for the supply of gas and electricity to individuals in France and Belgium, said the group in a statement.


Through its 73% stake in Direct Energie, Total also has a capacity of 800 MW through two 400 MW plants each in France and Belgium, to which will be added 400 MW capacity currently planned in Brittany, said the energy specialist.


-Alice Doré, Agefi-Dow Jones; [phone]; [e-mail]; ed: ECH


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


July 26, 2018 04:00 ET (08:00 GMT)

[ariane] 26/7/2018 09:49

LONDON -- The world's biggest oil companies are on a winning streak of rising profits and soaring cash flow. Investors are expecting to reap the rewards.

Royal Dutch Shell PLC opened Big Oil's earnings period Thursday, nearly tripling its net profit in the second quarter from a year earlier. Shell said its quarterly profit on a current cost-of-supplies basis -- a number similar to the net income that U.S. oil companies report -- was $5.2 billion, up from $1.9 billion a year earlier.

While adjusted earnings excluding identified items came in below analysts expectations, the company said that rising profit, strong cash flow and falling debt levels have given it the confidence to launch an anticipated $25 billion share buyback program, rewarding investors for years of belt-tightening when oil prices were low.

French oil giant Total SA also reported a sharp increase in profit Thursday, benefiting from a healthy rise in oil prices and years of painful cost cutting. Though earnings from Norway's Equinor ASA, formerly known as Statoil, lagged behind expectations because of maintenance costs, the company has already raised its dividend this year.

Investors are paying attention. Shares in the group of European oil companies have in recent months been trading at their highest levels in years, though the market reaction Thursday was muted.

"The whole sector's gone through this three- or four-year transition to make the business model work at $50 a barrel and as soon as we got there the oil price shot up," said RBC analyst Biraj Borkhataria. "You're in the sweet spot."

The earnings mark a remarkable turnaround for an industry that has spent the past few years scrambling to convince investors it could fix a yearslong habit of profligate spending and replace it with a disciplined, low-cost business model. So far, Big Oil's new look seems to paying off. Though oil prices have nearly doubled since their 2016 low, the companies say they remain focused on lowering costs and rewarding shareholders.

Total said it brought down the oil price it needs to cover its spending to less than $25 a barrel in the second quarter. Profit jumped 83% in the quarter compared with a year earlier. The company used the spare cash to move toward fulfilling its promise to raise shareholder payouts 10% by 2020 and increase share buybacks.

"Discipline on spending is resolutely maintained," Chief Executive Patrick Pouyanne said in the results announcement.

Equinor emphasized that its slip in profit in the second quarter highlights the need to remain focused on costs.

Shares in Shell and Equinor dipped lower, while Total ticked higher in early London trading.

U.S. oil giants Exxon Mobil Corp. and Chevron Corp. are set to report their earnings Friday. BP PLC reports next Tuesday.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

July 26, 2018 04:10 ET (08:10 GMT)

[waldron] 25/7/2018 17:11

Total
52.8 -0.13%

Engie
13.505 +0.37%

Orange
13.98 -0.50%

FTSE 100
7,658.26 -0.66%
Dow Jones
25,198.57 -0.17%
CAC 40
5,426.41 -0.14%


Brent Crude Oil NYMEX 74.11 +0.68%
Gasoline NYMEX 2.08 +0.63%
Natural Gas NYMEX 2.75 +0.99%


BP
566 -0.37%


Shell A
2,657 -0.52%


Shell B
2,725 -0.73%

[adrian j boris] 25/7/2018 11:27

Total's takeover bid for Direct Energie from 26 July to 14 September
Total (EU: FP)
Intraday Chart of the Action

Today: Wednesday 25 July 2018
More charts from the Total Exchange


PARIS (Agefi-Dow Jones) - Total's simplified tender offer for the alternative electricity supplier Direct Energie will be open from 26 July to 14 September at a unit price of 42 euros, according to a notice from the Authority Financial Markets (AMF) released on Wednesday. The day before, the AMF declared compliant Total's proposed offer. The energy giant finalized on July 6 the acquisition of 73.04% of the capital of the alternative electricity supplier, under an agreement signed on April 17th. The Total share lost 0.6% to 52.55 euros. ([e-mail]) ed: VLV


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


July 25, 2018 04:52 ET (08:52 GMT)

[waldron] 24/7/2018 16:53

Total
52.87 +0.51%

Engie
13.455 -0.70%

Orange
14.05 -0.46%

FTSE 100
7,709.05 +0.70%
Dow Jones
25,242.16 +0.79%
CAC 40
5,434.19 +1.04%

BP
568.1 +0.21%


Shell A
2,671 +0.55%


Shell B
2,745 +0.75%



ICE Brent Crude (Sep'18) (@LCO.1:Intercontinental Exchange Europe)
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