(AOF) – In the current context of rising fuel prices, TotalEnergies continues to implement its commitment to its motorist customers which guarantees that the price of diesel and gasoline will not exceed 1 €.99/L in all of its 3,400 service stations until the end of the year. Today, 2,200 service stations out of 3,400 already benefit from this measure since the price of at least one fuel is currently capped at €1.99/L.
TotalEnergies is also mobilizing for greater proximity with its customers by reintroducing the profession of gas station attendant in some of its service stations and by reopening service stations in rural areas, in the heart of the territories and as close as possible to French people. .
In order to promote proximity with our motorist customers, 100 TotalEnergies service stations have recruited gas station attendants who are already at the service of customers.
Free of charge, the gas station attendant fills up for customers who wish to do so, helps with the use of station equipment (washing vehicles, inflating tires), provides information on the products available in the shop and current promotions. 300 service stations will welcome pump attendants in 2024.
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Key points
– Integrated energy group, 3rd world oil company, 2nd gas company and world number in solar energy with Sun Power;
– Activity of $141 billion organized into 4 branches: 45% for marketing & services (distribution networks, etc.), 40% in refining & chemicals, 11% in renewables, gas and electricity, then exploration- production ;
– Economic model of transformation in ten years into a multi-energy group, producer of oil & LNG (liquefied natural gas), renewable energies & electricity and hydrogen & biomass;
– Open capital (6.4% held by employees), the 12-member Board of Directors being chaired by Patrick Pouyanné, also Chief Executive Officer;
– Solid balance sheet: debt ratio of 7% and return on equity of 32%.
Challenges
– 2020-2030 strategy + energy, – emissions:
– change in the distribution of sales -30% petroleum products, 50% gas, 15% electricity and 5% biomass and hydrogen,
– discipline in investments -$13 to $15 billion per year over 2022-2025, of which 50% allocated to renewables and electricity and 50% to natural gas;
– Innovation strategy led by One Tech, endowed with $850 million for 18 R&D centers:
– 3 hubs: industrial, development and support,
– 5 programs: production, CO2 and sustainability, operational efficiency of upstream, downstream & polymers, fuel and lubricants,
– a digital factory to generate $1.5 billion in savings by 2025;
– Environmental Strategy 2050:
– carbon neutrality for the group’s operations and products sold in Europe, reduction of 60% or more in the carbon intensity of products used outside Europe;
– 4 axes: growth in the gas value chains (natural, biogas and hydrogen), in low-carbon electricity (annual budget of $1.5 to 2 billion), in low breakeven oil, in biofuels , in activities contributing to carbon neutrality (natural wells, forests, etc.),
– solar and renewables: production capacity of 25 Gw by 2025,
– carbon fund endowed with $400 million to be invested by 2025;
– Ramp-up of renewables & electricity activities, now grouped within the Integrated Power division, with a capacity portfolio of 35 GW by 2025, including + 20 GW secured by long-term purchase contracts
;
;
– Acceleration of the energy transition with equity investments in 2 Qatari and Indian projects (solar, LNG and hydrogen) and in Clearway, 5th American in renewables, 29% of industrial investments going to low-carbon energies;
– Industrial excellence in oil production with a breakeven point of -20 $/b, with numerous projects in progress (Nigeria) and 4 discoveries (Brazil, Cyprus, Namidia and Suriname).
Challenges
– Sensitivity to the price of a barrel of oil and to the dollar, a variation of $0.1 having an impact of $100 million on operating profit, a variation of $10 per barrel having an impact of $2.7 billion;
– Confirmation of expectations for the 2
n/a
quarter: average LNG sale price of $10 to $12/Mbtu and hydrocarbon production of 2.5 Mboe/d;
– After a 12% increase in net profit on 1
er
quarter, 2023 outlook for hydrocarbon production up 2%, driven by the start-up of the Omani, Brazilian and Azerbaijani fields, by progress in LNG (2 new terminals in Europe) and by a 30% increase renewable electricity production, all supported by $16 to $18 billion in investments, including $5 billion in low-carbon energies;
– Total dividend for 2022 of €2.81, forecast of 3 installments in 2023 for an amount of €0.74 after share buybacks for $2 billion on the 2
th
quarter, triggered according to the formula 40% of the cash flow generated by hydrocarbon prices above $60 per barrel.
Find out more about the “oil and para-petroleum” sector
Biogas to green activities
Obtained through the decomposition of waste, it falls into the category of green energy. It is part of the strategy of many countries, particularly in Europe, to reduce their dependence on hydrocarbon imports. The oil groups have strong ambitions in the field, as revealed by two recent operations. The British BP took over the American Archaea Energy for 4.1 billion dollars. Then, the Anglo-Dutch, Shell, announced the acquisition of the Danish Nature Energy for 2 billion dollars. These transactions show high valuation levels, underlining the strong potential of the sector. TotalEnergies had already taken a stake in the American Clean Energy Fuels Corp in 2018, of which it now holds 19%. It recently joined forces with Veolia to recover biomethane from waste treatment facilities.