Exhibit 99.2

RECENT DEVELOPMENTS

Uruguay - TOTAL awarded an exploration license for Block 14

On May 3, 2012, TOTAL S.A. (together with its subsidiaries and affiliates, “TOTAL”) announced that it had been awarded an exploration license for Uruguay’s offshore Block 14, following the second bidding round held by the national company, ANCAP. This license remains subject to further approval by Uruguayan authorities.

Block 14 has a surface area of 6,690 km² and is located in the Pelotas Basin 250 km offshore. Water depths in this area range from 2,000 to 3,500 meters.

TOTAL has additional exploration and production assets in the Southern Cone, notably interests in Argentina, Brazil and Bolivia.

Reorganization of Downstream and Chemicals segments - Refining & Chemicals and Supply & Marketing 2010 and 2011 financial informational extract

In October 2011, TOTAL announced a proposed reorganization of its Downstream and Chemicals segments. The reorganization became effective on January 1, 2012.

This project led to organizational changes, with the creation of:

· Refining & Chemicals, a large industrial segment encompassing refining, petrochemicals, fertilizers and specialty chemicals operations. This segment also includes oil trading and shipping activities.

· Supply & Marketing, a commercial segment dedicated to worldwide supply and marketing activities of oil products.

Beginning with the first quarter of 2012, this new organization is reflected in the presentation of TOTAL’s financial statements. Below is an informational extract for the full years 2010 and 2011 and quarterly 2011 to facilitate an understanding of the relative financial status of Refining & Chemicals and Supply & Marketing.

The organization of Holding and Upstream segments, including the Exploration & Production and Gas & Power divisions, remains unchanged. To confirm, this informational extract does not address these divisions, as they are not impacted by the new Downstream and Chemicals organization.

REFINING - CHEMICALS

TOTAL

(unaudited)

(M€)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	65,156		19,385		19,089		19,267		19,405		77,146
Intersegment sales	34,522		10,662		10,346		11,190		12,079		44,277
Excise taxes	(2,177	)	(475	)	(506	)	(502	)	(879	)	(2,362	)
Revenues from sales	97,501		29,572		28,929		29,955		30,605		119,061
Operating expenses	(94,587	)	(27,814	)	(28,644	)	(29,539	)	(30,368	)	(116,365	)
Depreciation, depletion and amortization of tangible assets and mineral interests	(2,531	)	(323	)	(310	)	(473	)	(830	)	(1,936	)
Operating income	383		1,435		(25	)	(57	)	(593	)	760
Equity in net income (loss) of affiliates and other items	133		89		23		496		39		647
Tax on net operating income	92		(450	)	(3	)	9		308		(136	)
Net operating income	608		1,074		(5	)	448		(246	)	1,271
Net cost of net debt
Non-controlling interests
Net income

Adjustments (a) (M€)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	—		—		—		—		—		—
Intersegment sales	—		—		—		—		—		—
Excise taxes	—		—		—		—		—		—
Revenues from sales	—		—		—		—		—		—
Operating expenses	803		1,146		(170	)	(191	)	67		852
Depreciation, depletion and amortization of tangible assets and mineral interests	(1,213	)	—		—		(171	)	(534	)	(705	)
Operating income (b)	(410	)	1,146		(170	)	(362	)	(467	)	147
Equity in net income (loss) of affiliates and other items	(196	)	32		(37	)	410		(68	)	337
Tax on net operating income	202		(370	)	22		33		254		(61	)
Net operating income (b)	(404	)	808		(185	)	81		(281	)	423
Net cost of net debt
Non-controlling interests
Net income

(a) Adjustments include special items, inventory valuation effect and, until June 30, 2010, equity share of adjustments related to Sanofi.

(b) Of which inventory valuation effect

On operating income

765

1,146

(121

)

(121

)

928

On net operating income

584

808

(86

)

(93

)

669

Adjusted (M€) (a)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	65,156		19,385		19,089		19,267		19,405		77,146
Intersegment sales	34,522		10,662		10,346		11,190		12,079		44,277
Excise taxes	(2,177	)	(475	)	(506	)	(502	)	(879	)	(2,362	)
Revenues from sales	97,501		29,572		28,929		29,955		30,605		119,061
Operating expenses	(95,390	)	(28,960	)	(28,474	)	(29,348	)	(30,435	)	(117,217	)
Depreciation, depletion and amortization of tangible assets and mineral interests	(1,318	)	(323	)	(310	)	(302	)	(296	)	(1,231	)
Adjusted operating income	793		289		145		305		(126	)	613
Equity in net income (loss) of affiliates and other items	329		57		60		86		107		310
Tax on net operating income	(110	)	(80	)	(25	)	(24	)	54		(75	)
Adjusted net operating income	1,012		266		180		367		35		848
Net cost of net debt
Non-controlling interests
Adjusted net income
Adjusted fully-diluted earnings per share (€)

(a) Except for per share amounts.

(M€)	2010	1Q11	2Q11	3Q11	4Q11		2011
Total expenditures	2,124	344	519	423	624		1,910
Total divestments	763	16	13	2,422	58		2,509
Cash flow from operating activities	1,226	1,058	180	1,557	(649	)	2,146

SUPPLY - MARKETING

TOTAL

(unaudited)

(M€)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	75,579		20,489		20,753		21,622		21,374		84,238
Intersegment sales	677		239		158		218		190		805
Excise taxes	(16,616	)	(3,952	)	(4,038	)	(4,136	)	(3,655	)	(15,781	)
Revenues from sales	59,640		16,776		16,873		17,704		17,909		69,262
Operating expenses	(57,572	)	(16,192	)	(16,380	)	(17,227	)	(17,412	)	(67,211	)
Depreciation, depletion and amortization of tangible assets and mineral interests	(505	)	(115	)	(112	)	(110	)	(122	)	(459	)
Operating income	1,563		469		381		367		375		1,592
Equity in net income (loss) of affiliates and other items	223		52		32		170		(29	)	225
Tax on net operating income	(560	)	(125	)	(134	)	(112	)	(127	)	(498	)
Net operating income	1,226		396		279		425		219		1,319
Net cost of net debt
Non-controlling interests
Net income

Adjustments (a) (M€)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	—		—		—		—		—		—
Intersegment sales	—		—		—		—		—		—
Excise taxes	—		—		—		—		—		—
Revenues from sales	—		—		—		—		—		—
Operating expenses	212		210		20		(1	)	42		271
Depreciation, depletion and amortization of tangible assets and mineral interests	—		—		—		—		(1	)	(1	)
Operating income (b)	212		210		20		(1	)	41		270
Equity in net income (loss) of affiliates and other items	54		7		(2	)	172		(49	)	128
Tax on net operating income	(53	)	(69	)	(3	)	(6	)	(11	)	(89	)
Net operating income (b)	213		148		15		165		(19	)	309
Net cost of net debt
Non-controlling interests
Net income

(a) Adjustments include special items, inventory valuation effect and, until June 30, 2010, equity share of adjustments related to Sanofi.

(b) Of which inventory valuation effect

	On operating income		228		210		34		9		34		287
	On net operating income		169		148		27		3		22		200

Adjusted (M€) (a)	2010		1Q11		2Q11		3Q11		4Q11		2011
Non-Group sales	75,579		20,489		20,753		21,622		21,374		84,238
Intersegment sales	677		239		158		218		190		805
Excise taxes	(16,616	)	(3,952	)	(4,038	)	(4,136	)	(3,655	)	(15,781	)
Revenues from sales	59,640		16,776		16,873		17,704		17,909		69,262
Operating expenses	(57,784	)	(16,402	)	(16,400	)	(17,226	)	(17,454	)	(67,482	)
Depreciation, depletion and amortization of tangible assets and mineral interests	(505	)	(115	)	(112	)	(110	)	(121	)	(458	)
Adjusted operating income	1,351		259		361		368		334		1,322
Equity in net income (loss) of affiliates and other items	169		45		34		(2	)	20		97
Tax on net operating income	(507	)	(56	)	(131	)	(106	)	(116	)	(409	)
Adjusted net operating income	1,013		248		264		260		238		1,010
Net cost of net debt
Non-controlling interests
Adjusted net income
Adjusted fully-diluted earnings per share (€)

(a) Except for per share amounts.

(M€)	2010	1Q11		2Q11		3Q11	4Q11	2011
Total expenditures	860	91		152		185	379	807
Total divestments	83	21		27		1,363	479	1,890
Cash flow from operating activities	1,149	(44	)	(35	)	577	33	531