Report
Ahmed Ben Salem

Total : Total renamed TotalEnergies and focusing on renewables

>Q4 2020 results 9% better than expected - Adjusted net profit came in at $ 1.304bn, 8.7% above forecasts (ODDO BHF $ 1.1bn/ consensus $ 1.2bn), marked by an upturn in Brent and natural gas but with refining margins still under pressure. Set for an improvement in upstream and iGRP but caution on R&M - In E&P, earnings came to $ 1.068bn, 7% better than expected. The group sees stable production in 2021 at 2.9Mboe/d but confirmed growth to ~3.3 Mb/d in...
Underlying
Total SE

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Ahmed Ben Salem

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