Why invest in Total?

Total is a major energy operator, producing and marketing fuels, natural gas and low-carbon electricity. Active in more than 130 countries, our 100,000 employees are committed to energy that is more affordable, more reliable and cleaner.

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To become the responsible energy major

To become the responsible energy major means for Total integrating climate into strategy to anticipate energy markets trends. Total’s initiatives and commitments are organized around four strategic areas:

picto gaz naturel

Natural gas: Expand our presence across the entire natural gas chain, reduce our methane emissions and make LNG more energy efficient.

picto electricite bas carbone

Low-carbon electricity: Expand our operations in the non-regulated portion of the value chain (i.e., excluding power transmission), from power generation using renewables and natural gas to sales to end customers and energy storage (batteries and hydrogen).

picto produits petroliers

Petroleum products: Avoid expensive oil, reduce emissions at our facilities, and promote both sparing oil use and sustainable biofuels.

picto neutralite carbone

Carbon neutrality: Develop businesses that will help achieve carbon neutrality through providing energy efficiency services to our customers and by investing in natural carbon sinks such as forests and wetlands, and in carbon capture, utilization and storage (CCUS).



Confident in its ability to deliver sustainable and profitable growth, the Group decided to accelerate dividend growth for the coming years with guidance of increasing the dividend by 5 to 6% per year.

Jean-Pierre Sbraire
Chief Financial Officer

Solid fundamentals underpinning sustainable growth

Total implements its strategy for sustainable and profitable growth for the benefit of all our stakeholders, taking into account the evolution of energy markets.

The Group focuses on operational excellence and financial discipline to maintain an organic pre-dividend breakeven of less than 30 $/b and a strong balance sheet with a gearing maintained below 20%. The Group is also launching a $1 billion cost reduction program until 2023, notably supported by a strong digital ambition. Net capital expenditures will be maintained at $16-18 billion per year over 2019 to 2023.

In oil and gas, Total benefits from a large portfolio of profitable projects to fuel its future growth and has demonstrated its agility by making counter-cyclical acquisitions. Production is expected to grow over 5% per year between 2018 and 2021.

Downstream will make significant additional contributions to cash flow. Refining & Chemicals is focusing on growing petrochemicals. Marketing & Services is expanding in large, fast-growing markets. Both segments also invest in new low carbon businesses (biofuels, bioplastics, plastic recycling, EV charging points, natural gas for trucks and shipping…).

The energy transition leads to a growing role for both natural gas, mainly Liquefied Natural Gas (LNG), and electricity in the energy mix. Total will increase its LNG sales to 50 Mt per year by 2025, supporting CFFO growth in integrated LNG of 2.5 times between 2018 and 2025. In low carbon electricity, Total will invest $1.5 to 2 billion per year, notably in Europe with the objective of reaching 8 million customers by 2025. Beyond Europe, Total is leveraging strong electricity demand by investing in renewables generation. This strategy for LNG and electricity contributes to the Group’s ambition to reduce the carbon intensity of the energy products used by our customers by 15% between 2015 and 2030.

Given the solid financial position, which is benefiting from growing cash flow, the Board of Directors decided to accelerate dividend growth for the coming years with guidance of increasing the dividend by 5 to 6% per year.

Oil & Gas: Building on our strengths

Leveraging expertise in 4 businesses and 3 geographic areas
S'appuyer sur nos forces pour poursuivre la croissance
S'appuyer sur nos forces pour poursuivre la croissance

Building strong positions along the integrated gas and electricity chains

Investing in growing markets
Investir dans les marches en croissance - vdef
Investir dans les marches en croissance - vdef