TotalEnergies has its head office in the Tour Total in La Défense district in Courbevoie, west of Paris. The company is a component of the Euro Stoxx 50stock market index. In the 2020 Forbes Global 2000, it was ranked as the 29th-largest public company in the world, and additionally ranked as the 25th largest company of any type on the Fortune Global 500. Like other fossil fuel companies, TotalEnergies has a complex history of environmental and social impacts, including multiple controversies. According to the CDP Carbon Majors Report 2017, the company was one of the top 100 companies producing carbon emissions globally, responsible for .9% of global emissions from 1998-2015.
The company was founded after World War I, when then French President Raymond Poincaré rejected the idea of forming a partnership with Royal Dutch Shell in favour of creating an entirely French oil company. At Poincaré's behest, Col. Ernest Mercier with the support of ninety banks and companies founded Total on 28 March 1924, as the Compagnie française des pétroles (CFP), literally the "French Petroleum Company". Petroleum was seen as vital in the case of a new war with Germany.
The company during the 1930s was engaged in exploration and production, primarily from the Middle East. Its first refinery began operating in Normandy in 1933. After World War II, CFP engaged in oil exploration in Venezuela, Canada, and Africa while pursuing energy sources within France. Exploration in Algeria, then a French colony, began in 1946, with Algeria becoming a leading source of oil in the 1950s.
In 1954, CFP introduced its downstream product - Total brand of gasoline in the African continent and Europe.
In 1980, Total Petroleum (North America) Ltd., a company controlled 50% by CFP, bought the American refining and marketing assets of Vickers Petroleum as part of a sell-off by Esmark of its energy holdings. This purchase gave Total refining capacity, transportation, and a network of 350 service stations in 20 states.
1985-2003: Total CFP and rebranding to Total
The company renamed itself Total CFP in 1985, to build on the popularity of its gasoline brand. Later in 1991, the name was changed to Total, when it became a public company listed on the New York Stock Exchange. The French government, which used to control more than 30 percent of the company's stock in 1991, reduced its stake in the firm to less than 1 percent by 1996. In the time period between 1990 and 1994, foreign ownership of the firm increased from 23 per cent to 44 per cent.
Meanwhile, Total continued to expand its retail presence in North America under several brand names. In 1989, Denver, Colorado-based Total Petroleum, Total CFP's North American unit, purchased 125 Road Runner retail locations from Texarkana, Texas-based Truman Arnold Companies. By 1993, Total Petroleum was operating 2,600 retail stores under the Vickers, Apco, Road Runner, and Total brands. That year, the company began remodeling and rebranding all of its North American gasoline and convenience stores to use the Total name. Only four years later, Total sold its North American refining and retail operations to UltramarDiamond Shamrock for $400 million in stock and $414 million in assumed debt.
After Total's takeover of Petrofina of Belgium in 1999, it became known as Total Fina. Afterwards it also acquired Elf Aquitaine. First named TotalFinaElf after the merger in 2000, it was later renamed back to Total on 6 May 2003. During that rebranding, the globe logo was unveiled.
Chart of the major energy companies dubbed "Big Oil" sorted by latest published revenue
In 2003, Total signed for a 30% stake in the gas exploration venture in the Kingdom of Saudi Arabia (KSA) - South Rub' al-Khali joint venture along with Royal Dutch Shell and Saudi Aramco. The stake was later bought out by its partners.
In May 2006, Saudi Aramco and TOTAL signed a MOU to develop the Jubail Refinery and Petrochemical project in Saudi Arabia which targeted 400,000 barrels per day (bpd). On 21 September 2008, the two companies officially established a joint venture called SAUDI ARAMCO TOTAL Refining and Petrochemical Company (SATORP)- in which a 62.5% stake was held by Saudi Aramco and the balance 37.5% held by TOTAL.
In January 2014, Total became the first major oil and gas firm to acquire exploration rights for shale gas in the UK after it bought a 40 percent interest in two licences in the Gainsborough Trough area of northern England for $48 million. In July 2014, the company disclosed it was in exclusive talks to sell its LPG distribution business in France to Pennsylvania-based UGI Corporation for EUR450 million ($615 million).
In February 2015, Total unveiled plans to cut 180 jobs in the United Kingdom, reduce refinery capacity and slow spending on North Sea fields after it fell to a $5.7bn final-quarter loss. The company said it would also sell off $5bn worth of assets worldwide and cut exploration costs by 30%.
In June 2016, Total signed a $224M deal to buy Lampiris, the third-largest Belgian supplier of gas and renewable energy to expand its gas and power distribution activities.
In July 2016, Total agreed to buy French battery maker Saft Groupe S.A. in a $1.1bn deal, to boost its development in renewable energy and electricity businesses.
By October 2016 the company had a share value of 111,581 million euros, distributed in 2,528,459,212 shares. The shares were owned by a large number of shareholders, the biggest being Blackrock (5.02%), the employees of Total SA (4.9%), the company itself (4,7%), and the Group Bruxelles Lambert (2,5%).
In 2016 Total agreed to acquire $2.2-billion in upstream and downstream assets from Petrobras as part of the firms' strategic alliance announced in October 2016. For Total, these new partnerships with Petrobras reinforce Total's position in Brazil through access to new fields in the Santos Basin while entering the gas value chain.
Between 2013 and 2017 Total organized the ARGOS Challenge, a robotic competition with the aim to develop robots for their oil and gas production sites. It was won by an Austrian-German team using a variant of the taurob tracker robot.
In July 2017, Total signed a deal for a total amount of $4.8b with Iran for the development and production of South Pars, the world's largest gas field. The deal was the first foreign investment in Iran since in July 2015 sanctions over Iran's nuclear weaponisation were lifted by the JCPOA.
In August 2017, Total announced the acquisition of Maersk Oil for $7.45 billion in a share and debt transaction. This deal will position Total as the second operator in the North Sea.
In September 2017, Total signed an agreement with EREN Renewable energy to acquire an interest of 23% in EREN RE for an amount of EUR237.5 million.
In November 2017, Total announced the launch on the French residential market of Total Spring a natural gas and green power offering that is 10% cheaper than regulated tariffs. Total is thus pursuing its strategy of downstream integration in the gas and power value chain in Europe.
In August 2018, Total officially withdrew from the Iranian South Pars gas field because of sanctions pressure from the US.
In August 2019, Total announced sale of 30% stake in the Trapil pipeline network to crude oil storage operator Pisto SAS for EUR260 million.
In August 2019, Total signed deals to transfer 30% and 28.33% of its assets in Namibia's Block 2913B and Block 2912 respectively to Qatar Petroleum. The company will also transfer 40% of its existing 25% interests in the Orinduik and Kanuku blocks of Guyana and 25% interest in Blocks L11A, L11B, and L12 of Kenya to Qatar Petroleum.
In December 2020, the company announced that it is planning to cut 500 voluntary jobs in France.
In April 2021, Total said that it had registered an income of $3 billion for the period of January-March, which is close to the levels registered before the pandemic.
2021-present: Rebranding to TotalEnergies
In May 2021, the company is due to ratify its name change to TotalEnergies as an intended illustration of its investments in the production of green electricity. On 28 May 2021, at the Ordinary and Extraordinary Shareholders' Meeting, shareholders approved the name change to TotalEnergies.
In 2016 Total also created two new corporate divisions:
namely People & Social Responsibility (Human Resources; Health, Safety & Environment; the Security Division; and a new Civil Society Engagement Division) and Strategy & Innovation (Strategy & Climate Division, responsible for ensuring that strategy incorporates the 2 °C global warming scenario, Public Affairs, Audit, Research & Development, the Chief Digital Officer and the Senior Vice President Technology).
Subsidiaries and affiliates
As of 31 December 2014[update], TotalEnergies had 903 subsidiaries consolidated into the group results, together with affiliate investments and joint ventures, mostly in LPG. In addition, Total had other equity holdings amounting to about 3bn euros, treated as investments, and was involved in a number of significant joint ventures, mostly relating to LPG and LNG exploration, production, and shipping.
The joint ventures which are treated as subsidiaries are listed in the consolidated subsidiary section.
Main consolidated subsidiaries
Abu Dhabi Gas Liquefaction Company Ltd (5.00%), United Arab Emirates
Christophe de Margerie was chief executive from 14 February 2007 until 20 October 2014, when he died in a plane crash at Vnukovo Airport in Moscow. During the plane's takeoff roll it collided with a snowplow which had failed to follow the remainder of its convoy. His total annual compensation for this role was EUR2,746,335, consisting of a EUR1,250,000 salary and EUR1,496,335 bonus.
The present[when?] chairman and CEO of the company is Patrick Pouyanné (2014 to present). On 16 December 2015, Patricia Barbizet was named Lead Independent Director.
Group Performance Management Committee
Sinc 2 April 2015, a Group Performance Management Committee has been in place. The mission of this committee is to examine, analyze and pilot the safety, financial and business results of the group. In addition to the members of the executive committee, this committee is composed of the managers in charge of the main business units of the group, as well as a limited number of senior vice presidents of functions at group and branch levels. Since September 2016, the committee has included:
For group functions, the senior vice presidents in charge of corporate communications, legal, hse, and strategy & climate.
For exploration and production, the senior vice presidents in charge of the following business units: Africa, Americas, Asia Pacific, Europe, and Central Asia, the Middle East / North Africa, Exploration, and one function, decided by the Comex.
For gas, renewables, and power, the president gas & power and a function chosen by the executive committee
For refining and chemicals, the senior vice presidents in charge of the following business units: Refining and Base Chemicals Europe, Refining and Petrochemicals Orient, Polymers, Hutchinson, and one function, decided by the Comex.
For trading shipping, the senior vice president trading shipping.
For marketing and services, the senior vice presidents in charge of the following business units: Europe, Africa, Global Businesses, and one function, decided by the Comex.
For Total global services, the president Total global services.
The executive committee is Total's primary decision-making organization. Since January 2020, members of Total's executive committee have been:
Total is involved in 23 projects of exploration and production in Africa, Asia, Europe, North America, South America and Russia.
Investments in Iran
Total has been a significant investor in the Iranian energy sector since 1990. In July 2017, Total and the National Iranian Oil Company (NIOC) signed a contract for the development and production of South Pars, the world's largest gas field. The project will have a production capacity of 2 billion cubic feet per day. The produced gas will supply the Iranian domestic market starting in 2021.
On 29 April 2011, Total agreed to buy 60% of photovoltaics company SunPower for US$1.38 billion. By the 2013 annual reporting date Total owned 64.65%.
In May 2016, Total agreed to purchase French battery maker Saft Groupe S.A. for 1.1 billion euros.
In June 2016, Total signed a $224M deal to buy Lampiris, the third-largest Belgian supplier of gas and renewable energy to expand its gas and power distribution activities.
In December 2016, Total acquired about 23% of Tellurian for an amount of 207 million dollars, to develop an integrated gas project.
In August 2017, Total announced they would buy Maersk Oil from A.P. Moller-Maersk in a deal expected to close in the first quarter of 2018.
In April 2018, Total announced they were buying 74% of the French electricity and gas provider Direct Énergie from their main stockholders, for 1.4 billion euros.
Environmental and safety records
In 1998, the Total SA company was fined EUR375,000 for an oil spill that stretched 400 kilometers from La Rochelle to the western tip of Brittany. The company was only fined that amount because they were only partially liable because Total SA did not own the ship. The plaintiffs had sought more than $1.5 billion in damages. More than 100 groups and local governments joined in the suit. The Total company was fined just over $298,000. The majority of the money will go to the French government, several environmental groups, and various regional governments. The Total SA company was also fined $550,000 for the amount of marine pollution that came from it. After the oil spill they tried to restore their image and have opened a sea turtle conservation project in Masirah in recent years.
Prior to the verdict in which Total was found guilty one of the counterparts in the incident, Malta Maritime Authority (MMA), was not to be tried for having any hand in the incident. In 2005, Total submitted a report to the Paris courts which stated that Total had gathered a group of experts which stated the tanker was corroded and that Total was responsible for it. The courts sought a second expert reviewing this information, which was turned down.
In 2001, the AZF chemical plant exploded in Toulouse, France, while belonging to the Grande Paroisse branch of Total.
On 16 January 2008, Total was required to compensate all of the victims of the pollution caused by the sinking of the ship Erika in the amount of EUR192 million. This is in addition to the EUR200 million that Total spent to help clean up the spill. The company appealed against the verdict, lost the case in the following two appeals and was definitely condemned.
In 2016, Total was ranked as the second-best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. According to the CDP Carbon Majors Report 2017, the company was one of the top 100 companies producing carbon emissions globally, responsible for .9% of global emissions from 1998-2015. In 2021, Total was ranked as the 2nd most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).
Total SA has been involved in multiple controversies. Hereafter there is a list of the main ones.
Total is being implicated in a bribe commission scandal which is currently[when?] emerging in Malta. It has emerged that Total had told Maltese agents that it would not be interested in doing business with them unless their team included George Farrugia, who is under investigation in the procurement scandal. George Farrugia has recently been given a presidential pardon in exchange for information about this scandal. Enemalta, Malta's energy supplier, swiftly barred Total and its agents, Trafigura from bidding and tenders. An investigation is currently underway and three people have been arraigned 
Oman 1954 War
In 1937, Iraq Petroleum Company (IPC), 23.75 percent owned by Total, signed an oil concession agreement with the Sultan of Muscat. IPC offered financial support to raise an armed force that would assist the Sultan in occupying the interior region of Oman, an area that geologists believed to be rich in oil. This led to the 1954 outbreak of Jebel Akhdar War in Oman that lasted for more than 5 years.
On 16 December 2008, the managing director of the Italian division of Total, Lionel Levha, and ten other executives were arrested by the public Prosecutor's office of Potenza, Italy, for a corruption charge of EUR15 million to undertake the oilfield in Basilicata on contract. Also arrested was the local deputy of Partito Democratico Salvatore Margiotta and an Italian entrepreneur.
UN Oil-for-Food Programme for Iraq
In April 2010, Total was accused of bribing Iraqi officials during former president Saddam Hussein's regime to secure oil supplies. A United Nations report later revealed that Iraqi officials had received bribes from oil companies to secure contracts worth over $10bn. On 26 February 2016, the Paris Court of Appeals considered Total guilty and ordered the company to pay a fine of EUR750,000 for corrupting Iraqi civil servants. The court's ruling overturns an earlier acquittal in the case.
Bribery in Iran
In 2013, a case was settled that concerned charges that Total bribed an Iranian official with $60 million, which they documented as a "consulting charge," and which unfairly gave them access to Iran's Sirri A and Sirri E oil and gas fields. The bribery gave them a competitive advantage, earning them an estimated $150 million in profits. The Securities Exchange Commission and the Department of Justice settled the charges, expecting Total to pay $398 million.
Moroccan Sahara oil exploration
In October 2001, Total signed a contract for oil-reconnaissance in areas offshore Western Sahara (near Dakhla), with the "Moroccan Office National de Recherches et d'Exploitations Petrolières" (ONAREP). In January 2002, Hans Corell (the United Nations Under-Secretary-General for Legal Affairs) stated in a letter to the president of the Security Council that whenever the contracts are only for exploration they're not illegal, but if further exploration or exploitation are against the interests and wishes of the people of Western Sahara, they would be in violation of the principles of international law.
Finally, Total decided to not renew their license off Western Sahara.
Total is one of the official sponsors for one of the most popular and influential Mexican football teams, Club America.
In terms of educational development, Total provides scholarships worth millions of euros annually to international students to study in France. These programs are mainly for master's degrees. Doctoral scholarships are also offered but in limited numbers. The students mainly come from Europe, Africa, Asia, and the Middle East where Total Operates. Students from Africa are mainly from Nigeria. The scholarship involves the payment of Tuition and a monthly allowance of 1400 Euros (2014 disbursement). The allowance is able to cater for feeding, transportation, and accommodation for the students. The drop in oil prices in 2015 has led to the reduction of the number of scholars.
In July 2016, Total has secured an eight-year sponsorship package from the Confederation of African Football (CAF) to support 10 of its principal competitions. Total will start with the Africa Cup of Nations to be held in Gabon, therefore, renaming it Total Africa Cup of Nations.
On Tuesday 16 April 2019, the company's Chief Executive Officer, Patrick Pouyanne pledged that Total will make a EUR100 million contribution to the reconstruction of the Notre-Dame cathedral after it was extensively damaged in a fire.
On 15 January 2020, the company confirmed a two-year sponsorship deal with CR Flamengo, being the first time a partner of a Brazilian football team.
^Overland, I., Bourmistrov, A., Dale, B., Irlbacher-Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623-1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698