Billion-Dollar Investment – TOTAL Focuses on Renewables and Aims to Become a 'Clean Energy Company'

Billion-Dollar Investment – TOTAL Focuses on Renewables and Aims to Become a ‘Clean Energy Company’

Written by Roberta Souza

Published on 01/10/2020 at 09:21

Updated on 01/10/2020 at 09:23

foto: reprodução

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French Total Aims to Transform into an Energy Company, Focusing on Renewables and Not Just the Oil and Gas Sector

The French oil and gas company, Total, is transforming into a major energy company as part of its efforts to become a leader in the renewable energy sector and achieve “net-zero” by 2050. As a result, Total will increase its investments in renewable energy and electricity by US$ 1 billion. Regarding oil projects, Total stated that it will focus on low-cost projects and prioritize value over volume.

Total released its “Strategy & Outlook” last Wednesday, in an effort to transform into a broad energy company. Total explained that its strategy aims to transform it into a comprehensive energy company through the profitable growth of energy production from LNG and electricity, the two fastest-growing energy markets.

In the next decade, Total stated that its energy production will increase by one-third, around 3 to 4 Mboe/d, half from LNG and half from electricity, primarily from renewables.

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Billion-Dollar Investment – TOTAL Focuses on Renewables and Aims to Become a ‘Clean Energy Company’

French Total Aims to Transform into an Energy Company, Focusing on Renewables and Not Just the Oil and Gas Sector

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Billion-Dollar Investment – TOTAL Focuses on Renewables and Aims to Become a ‘Clean Energy Company’

French Total Aims to Transform into an Energy Company, Focusing on Renewables and Not Just the Oil and Gas Sector

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