Total : CMD preview – focus on renewables with independent reporting, a reduction in the dividend is unlikely but cannot be ruled out
>Oil production set to slow to the benefit of renewables - Total is due to hold its strategy presentation on 30 September. This will be an opportunity for the group to confirm its strategy of a greater focus on renewables and carbon neutrality. We therefore expect the group to maintain a level of capex of ~$ 14bn vs the $ 18bn it guided to at the start of the year, which ensures growth while sparing renewables with € 2bn (15%). Renewable energies should represent 20% ...Total is an international integrated oil and gas company also active in solar and biomass energy sources. Co. engages all aspects of the petroleum industry, including Upstream operations (oil and gas exploration, development and production, and LNG (Liquefied Natural Gas)) and Downstream operations (refining, petrochemicals, specialty chemicals, marketing and marketing and trading and shipping of crude oil and petroleum products). In addition, Co. is engaged in the coal mining and power generation sectors. Co.'s worldwide operations are conducted through three business segments: Upstream, Refining & Chemicals, and Marketing & Services.
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