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Writing Is On The Wall,' Says Total's Pouyanné As Major Shifting To LNG, Renewables - Natural Gas Intelligence
Writing Is On The Wall,' Says Total's Pouyanné As Major Shifting To LNG, Renewables - Natural Gas Intelligence
naturalgasintel.com
5-6 minutos
1 de 4 11/02/2021 04:56 p. m.
‘Writing is on the Wall,’ says Total’s Pouyanné as Major Shifting to LN... about:reader?url=https://www.naturalgasintel.com/writing-is-on-the-wall...
Pouyanné highlighted that while global energy and oil demand fell
by 5% and 9%, respectively, in 2020 amid a pandemic and
economic crisis, demand for LNG and renewables continued to
grow. Demand for LNG rose 3%, while demand for wind and solar
energy swelled by 13%.
2 de 4 11/02/2021 04:56 p. m.
‘Writing is on the Wall,’ says Total’s Pouyanné as Major Shifting to LN... about:reader?url=https://www.naturalgasintel.com/writing-is-on-the-wall...
The first train at the Arctic project was 45% complete at year-end;
engineering, procurement and construction contracts were
awarded for the Nigeria project in May 2020; Mozambique LNG
was 21% complete as of December and continued to progress
despite security concerns; and ECA was sanctioned in November.
Total posted net income of $891 million (31 cents/share) for the
fourth quarter, down from $2.6 billion (98 cents) in 4Q2019.
For full-year 2020, Total reported a net loss of $7.24 billion (minus
$2.90), versus net income of $11.27 billion ($4.20) in 2019.
Total’s 4Q2020 net income was up more than three-fold from the
previous quarter. Pouyanné attributed the rebound to oil prices
stabilizing above $40/bbl thanks to “strong…discipline” from the
Organization of the Petroleum Exporting Countries and its allies,
3 de 4 11/02/2021 04:56 p. m.
‘Writing is on the Wall,’ says Total’s Pouyanné as Major Shifting to LN... about:reader?url=https://www.naturalgasintel.com/writing-is-on-the-wall...
Oil output fell 15% year/year to 1.24 million b/d in 4Q2020, with
full-year production declining 9% to 1.3 million b/d. Pouyanné said
the decline was mainly because of the OPEC-plus production
quotas to boost prices, which he said Total fully supports.
Natural gas output averaged 7.41 Bcf/d in the final three months of
2020, down 2% from the similar 2019 period, while full-year gas
production fell 1% to 7.25 Bcf/d.
4 de 4 11/02/2021 04:56 p. m.