Total has become an expert in crude oil trading and managing oil and gas trading risks. At the same time, our shipping activity, bolstered by a fleet of forty-nine carriers, allows us to ensure a secure, flexible supply required to develop our activities.

Recognized expertise in trading crude oil and refined products

Our trading activity involves buying and selling crude oil and refined products (oil fuel, gasoline, diesel, etc.). It has two main objectives:
• maximize the value of hydrocarbon production;
• supply the refineries under optimal conditions.

The Trading team is also active in managing the risks resulting from crude oil price fluctuations.

Total’s trading specialists operate in the three main world oil markets: crude oil, refined products and derivatives.

In 2011, in a context of rapidly climbing oil prices, Total daily trading volume rose to 4.4 thousand barrels of crude oil and refined products. We are thus positioned among the leading global operators in crude oil and refined product trading.

Shipping: a rigorous policy of shipping safety

Working closely with Trading, our Shipping teams arrange the transport of crude oil and petroleum products. They select and charter the safest carriers to transport cargoes under optimal security conditions.

As of December 31, 2011, we have a fleet of forty-nine tankers (including seven LPG carriers) with an average age of about five years. In 2011, the Group chartered roughly 3,000 tankers carrying a total volume of 110 million tonnes of crude oil and refined products.

Strict carrier selection

Total has made ongoing improvement of shipping security a priority. The Group has developed a rigorous policy in this area. Our vetting process for oil and gas tankers is one of the strictest in the industry. The policy concerns the vessels chartered by Total. It also applies to tankers carrying cargo owned by Total companies or simply calling at Total-operated oil terminals.

Among our selection criteria, we have set age limits on tankers that can be used:

• no tanker can be more than 25 years old,

• the limit drops to 20 years for tankers carrying more than 30,000 tonnes,

• the limit drops to 15 years for the transport of heavy oil fuel.

Finally, regardless of the terms of use, the Groupe verifies that ship owners comply scrupulously with:

• the rules set by international maritime conventions;

• national regulations and the results of inspections by the flag State, the port country, certification authorities, etc.;
• the Group’s safety standards and our Safety, Health, Environment, Quality Charter;
• the recommendations issued by professional bodies (including the Oil Companies International Marine Forum).