Reuters PARIS -Total will be as active in adding renewable energy assets in 2021 as it was last year, Chief Executive Patrick Pouyanne told an Oddo BHF conference on Friday. Total is trying to reduce its dependence on oil and shift towards electricity and renewable energy. It aims to have 35 gigawatts (GW) of gross renewable energy generation capacity by
Reuters The North Sea could be switched from a depleting oil and gas basin to a site for storing CO2 under the seabed, Total CEO Patrick Pouyanne said Dec. 15. The French oil firm is one of the partners in the Northern Lights project, which aimed to bury CO2 underground and help companies meet climate targets by preventing the heat-trapping gas from
Reuters MAPUTO – French oil major Total has signed a security pact with the Mozambique government to protect a $20 billion natural gas (LNG) project being developed in the southern African country, the company said on Monday. Mozambican security forces have been battling a low-level insurgency against militias suspected of having links to Islamic State in the gas-rich north of
Reuters Total has halted operations at its Dan Bravo oil production platform in the Danish North Sea, the French company said on Tuesday, after Greenpeace activists climbed aboard to protest future oil and gas exploration. Four Greenpeace activists swam 500 metres to climb on to the unmanned Total-operated oil platform on Tuesday. A Total spokeswoman said operations had been halted
Reuters PARIS – French energy group Total will book an exceptional impairment charge of $8 billon mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday. “Overall, the exceptional asset impairments that will therefore be taken into account in the second quarter of 2020 amount to $8.1 billion, including $7 billon on Canadian oil sands
Reuters LONDON – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives. The plans of companies like BP (BP.L),
CNBC Total on Tuesday posted a significant fall in first-quarter net profit, as oil prices tumbled to historic lows following a drop-off in demand due to the coronavirus crisis. The French energy major reported Tuesday that first-quarter net profit came in at $1.8 billion, down from $2.8 billion over the same period last year, reflecting a fall of 35%. Analysts polled
Reuters ABERDEEN, Scotland – France’s Total (TOTF.PA) is considering stopping sales of fuel oil to power markets as the energy giant seeks to reduce its carbon footprint and grow its renewable power business, its chief executive told Reuters. Fuel oil is one of the most carbon intensive refined oil products, used mainly for power generation and as a marine fuel.
Reuters ABERDEEN, Scotland – Total (TOTF.PA) beat forecasts on Thursday by keeping net adjusted fourth-quarter profit steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy firm’s shares. The stock rose about 3% before easing off its highs as the company bucked a trend in the industry which has seen profits
Reuters Apache Corp and Total SA said on Tuesday they had made a major oil discovery in the hotly-tipped Maka-Central 1 well off the coast of Suriname, sending Apache’s shares surging nearly 26%. The well, dubbed “among the most anticipated in the world” by one brokerage, is seen as central to Apache’s efforts to reduce its reliance on the “Alpine
Houston Chronicle Apache Corp. and the French energy major Total said Tuesday they’ve made a significant oil discovery offshore of the small South American nation of Suriname. The announcement comes after Apache first offered vague results in early December that disappointed investors, and Houston-based Apache then made a 50-50 partnership with Total to eventually hand over the operations to the
Houston Chronicle A bevy of Big Oil majors are making new commitments to developing oil and gas projects in West Africa, specifically in Senegal, Mauritania and Angola. The British energy major BP said its three-well exploration campaign offshore of Senegal and Mauritania has proven successful, confirming the world-class scale of natural gas resources. Likewise, a consortium led by the French
