The Shareholders' Newsletter SN#65

Your Questions


At Total, our priority is to keep you informed through listening and dialog on a daily basis. These questions are your questions.

What impact do the trends in the dollar and Brent have on your results?

Fluctuations in the dollar of more or less $0.1 per euro have an estimated impact of more or less 100 million dollars on the adjusted net operating income. A strong dollar usually has a positive impact on Group results as most of its sales are invoiced in dollars. Fluctuations in the Brent oil price of more or less 10 dollars have an estimated impact of more or less 2.7 billion dollars on the adjusted net operating income. In order to limit the impact on its results of price volatility when the Brent decreases, Total has significantly decreased its organic pre-dividend cash break-even, from over 100 dollars in 2014 to 26 dollars per barrel in 2020, by focusing on low-cost petroleum projects. The Group can therefore resist crisis such as the pandemic that began in March 2020, and capitalize on any Brent price increase. 

Does Total provide charging solutions for electric vehicles at home?

Yes, if you are a Total Direct Energie subscriber, you can have charging points installed at home. Total Direct Energie charging points are compatible with all electric vehicles that can be charged in an AC (alternating current), provided you have the right cable. Total Direct Energie provides the T2/T2 cable as an option, which corresponds to the great majority of requirements. To find out more, visit the Total Direct Energie website under the heading Particuliers>Nos services> Ma borne de recharge à domicile.

Will decisions such as those made by the public authorities in France that foresee prohibiting gas heating as of 2021 cause you to rethink your strategy for this power source?

Natural gas is the transition energy. It emits 50% less greenhouse gas (GHG) than coal in power generation and is a crucial natural supplement to renewable, intermittent and seasonal energies. Abundant and low cost, natural gas provides a fast and pragmatic response to combating the increase in GHG emissions by replacing coal. Our customers need available energy and an unfailing power system. World liquefied natural gas demand is rapidly increasing (10% per year between 2015 and 2019, particularly in China) and continued to increase by 3% in 2020 despite the global crisis. Total is expanding its presence along the entire gas value chain every year. This growth in the natural gas chain will be accompanied by the incorporation of an increasing proportion of biogas and decarbonated hydrogen. Total became the leader in renewable gas production in France with the acquisition of Fonroche Biogaz in January 2021. The Group also signed a cooperation agreement with Engie to design, develop, build and operate the Masshylia project, France’s largest renewable hydrogen production site. Moreover, Total supports minimum incorporation rates for blending these “green” energy sources into gas, similar to the rules for biofuels.