Total – Oil & Gas 360

Shell, Total continue buyback bonanza after record profits

July 28, 2022

Yahoo Finance LONDON – Europe’s biggest oil companies Shell and TotalEnergies extended share buybacks on Thursday after their second-quarter profits beat an already record-breaking previous quarter on the back of soaring crude, gas and oil product prices. The two companies combined are buying back $8 billion in shares in the third quarter after recording their respective highest quarterly profits while

Eni to join Exxon, Total, Shell, Conoco in Qatar’s mega-LNG expansion – sources

June 8, 2022

Yahoo Finance HOUSTON – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday. Exxon Mobil Corp, TotalEnergies SE, Shell, ConocoPhillips and Eni will participate in the North Field expansion,

After a week of setbacks for Big Oil, France’s Total wins support for its climate strategy

May 28, 2021

CNBC LONDON — Investors in French oil giant Total on Friday backed the company’s strategy at its annual shareholder meeting, including plans to tackle the climate emergency, according to chairman and CEO Patrick Pouyanne. The Paris-based energy major had sought support from investors with a motion on its environmental goals shortly after some of its peers in the oil and gas industry suffered

France’s Total to face climate plan pressure at investor meeting

May 27, 2021

Reuters Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world wants to reach net zero

Total, CNOOC reach final agreements on Uganda, Tanzania projects

April 12, 2021

Reuters PARIS – French major Total said on Monday and its partners have concluded final agreements to launch the Lake Albert resources development project in Uganda and Tanzania. Total and partner China National Offshore Oil Corporation plan to exploit oil reserves in Lake Albert in Uganda and construct a $3.5 billion East African Crude Oil Pipeline (EACOP) to neighbouring Tanzania

Clean Energy, Total sign JV for renewable natural gas production

March 4, 2021

Reuters U.S. alternative fuels supplier Clean Energy Fuels Corp and its largest shareholder, European oil and gas producer Total SE, announced terms of a new joint venture on Thursday focused on renewable natural gas (RNG) production. Clean Energy’s shares rose 7.5% to $13.15 in pre-market trading. The joint venture, owned equally by both firms, will have an initial firm commitment

Total rebrands in pivot away from oil after better quarter

February 9, 2021

Reuters PARIS – France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled during the pandemic, said it

Big Oil CEO says going green ‘will have a cost for everybody’ — and governments need to explain that

February 3, 2021

CNBC LONDON — The chief executive of French oil major Total called on governments to explain the cost of carbon neutrality pledges, urging policymakers to make the “affordability” of an energy transition clear to everybody. His comments come at a time when the global oil and gas industry is under immense pressure to pivot away from the burning of fossil fuels, amid deep

Total speeds up renewables push with $2.5 billion investment in Indian solar power

January 18, 2021

Reuters PARIS – Total is paying $2.5 billion for a share in Indian renewable energy firm Adani Green Energy Limited (AGEL) and a portfolio of solar power assets, marking the latest step in the French energy company’s drive to reduce its dependence on oil. For its investment, Total will get a 20% stake in AGEL and a seat on its

Total quits top U.S. oil lobby over climate policies

January 15, 2021

Reuters LONDON – France’s Total SE on Friday became the first major global energy company to quit the main U.S. oil and gas lobby due to disagreements over its climate policies and support for easing drilling regulations. Total said it would not renew its 2021 membership with the American Petroleum Institute (API) following a review of the lobby’s climate positions,

Total adds to renewable gas push with Fonroche acquisition

January 11, 2021

Reuters PARIS – French oil group Total said on Monday it had acquired Fonroche Biogaz, a leading producer of renewable gas in France with nearly 500 gigawatt-hours of installed capacity. The latest acquisition comes amid a broader push by the firm to build up its presence in electricity markets and in renewable energy and reduce its dependence on oil, and

Total to keep up renewables energy investments in 2021, says CEO

January 8, 2021

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

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