Exclusive extracts from this 25-page-long report:
- Who is the player?
Total was incorporated in 1924 and is a major hydrocarbon developer, producer and distributor. The group is also present in downstream markets: refining, manufacturing of basic petrochemicals and derived specialties, as well as energy trading. [...]
- What are the player's strategies?
Total has been adjusting to sustained low oil prices by postponing capital investment in assets that do not achieve breakeven point and pursuing cost reductions across the board. Total's exploration and production capex peaked in 2013, when group capex stood at €31.12bn, as opposed to €18.55bn in 2016 and a projected €15bn in 2017. Prior to this, the group had completed a series of heavy investments that, along with additional project start-ups (5 in 2016; 12 scheduled for 2017-2018), allowed it to achieve steady increases in both oil (+22.9% over 2014-16) and gas (+6.3% over 2014-16) production, while lowering related investment outlays. […]
- What are the player's strengths and weaknesses?
Vertical integration: upstream, refining and marketing, petrochemicals
Leader in refinery and marketing operations in Western Europe and Africa […]
Production levels in 2016 impacted by security issues in Nigeria and Yemen and wildfires in Canada
Declining profitability and financial returns over the past years […]
- What is the player's financial position?
The financial indicators included in the report include: Consolidated net revenues, Consolidated operating income and margin, Consolidated net profit and margin, R&D spending and ratio, Sales by segment, Sales performance by segment, Sales by region, Sales performance by region, Profitability ratios, Liquidity ratios, Solvency ratios and Free cash flow and capital expenditure.