UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
August 31, 2018
Commission File Number 001-10888
TOTAL S.A.
(Translation of registrants name into English)
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrants home country), or under the rules of the home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrants security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
(If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .)
TOTAL S.A. is providing on this Form 6-K a description of certain recent developments relating to its business.
Exhibit 99.1 | Yamal LNG Begins Gas Exports from Second LNG Train (August 9, 2018) | |
Exhibit 99.2 | Disclosure of Transactions in Own Shares (August 9, 2018) | |
Exhibit 99.3 | Disclosure of Transactions in Own Shares (August 16, 2018) | |
Exhibit 99.4 | Disclosure of Transactions in Own Shares (August 23, 2018) | |
Exhibit 99.5 | Total Sells Equity in Indias Hazira Terminal and Signs LNG Sales Agreement with Shell (August 27, 2018) | |
Exhibit 99.6 | Disclosure of Transactions in Own Shares (August 30, 2018) | |
Exhibit 99.7 | Total sells its polystyrene business in China to INEOS Styrolution (August 31, 2018) | |
Exhibit 99.8 | Canada: Total sells its interest in the Joslyn oil sands project to CNRL (August 31, 2018) |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TOTAL S.A. | ||||||
Date: August 31, 2018 | By: | /s/ ANTOINE LARENAUDIE | ||||
Name: | Antoine LARENAUDIE | |||||
Title: | Group Treasurer |
Exhibit 99.1
Press Release
Yamal LNG Begins Gas Exports from Second LNG Train
Paris, August 9, 2018 - Total announces that the first shipment of Liquefied Natural Gas (LNG) from the second train of the Yamal LNG project in Northern Russia is ready to leave Sabetta. This train adds an additional 5.5 million tons per year of LNG capacity to the facility, bringing the total capacity in operation to 11 million tons per year. At full capacity, the three-train facility will supply 16.5 million tons of LNG per year to Asian and European markets. The third train is expected to start up in early 2019.
Following the successful start-up of Yamal LNG in December last year, the first shipment from the second train ahead of schedule is another major milestone for this world-class LNG project, commented Patrick Pouyanné, Chairman and CEO of Total. The Yamal LNG production adds competitive LNG resources to our growing portfolio. We will keep developing new LNG projects in the Russian Arctic with our strategic partner Novatek, as illustrated by the recent announcement of our entry in Arctic LNG 2 with 10% direct working interest.
Last May, Novatek and Total also agreed that Total will have the opportunity to acquire a 10 to 15% direct interest in Novateks future LNG projects in Yamal and Gydan.
About Yamal LNG
The project is operated by the Yamal LNG Company, owned by Russian independent gas producer Novatek (50.1%), Total (20%), CNPC (20%) and Silk Road Fund (9.9%).
One of the biggest LNG projects in the world, Yamal LNG is developing the 4.6 billion barrels of oil equivalent of reserves (boe) from the giant onshore South Tambey gas and condensate field, located on the Yamal Peninsula.
The project includes an integrated gas treatment and liquefaction facility with three trains of 5.5 million tons per year capacity each, storage tanks, and port and airport infrastructure.
Yamal LNGs production is sold under long-term contracts in Asian and European markets, predominantly under oil-indexed price formulas. LNG will be supplied to the markets all year round through an innovative shipping approach involving a fleet of purpose-designed ice-class LNG carriers that will travel the Northern Sea Route to Asia through the Bering Strait in the summer.
About Arctic LNG 2
In May 2018, Total signed an agreement with Novatek outlining the terms upon which Total will acquire a direct working interest of 10% in Arctic LNG 2, a new giant liquefied natural gas project led by Novatek.
Taking account of Totals approximate 19% stake in Novatek and Novateks intention to retain 60% of the project, the Groups overall economic interest in this new LNG project will be approximately 21.5%.
Located on the Gydan Peninsula, facing the Yamal Peninsula, Arctic LNG 2 will offer opportunities to develop synergies between the two projects. With a production capacity of approximately 19.8 million tons per year (Mt/year), Arctic LNG 2 will unlock more than 7 billion boe of hydrocarbon resources.
Total in Russia
Total has been present in Russia since 1991. The Groups equity production averaged 318,000 barrels of oil equivalent per day (boe/d) in 2017. This production comes from the Groups 18.9% interest in Novatek, from the Group direct interest in Yamal LNG (20%) and from the Kharyaga (Total, 20%) and Termokarstovoye fields (Total, 49%).
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total and Total Group are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources, that the SECs guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TOTAL S.A. - Tour Coupole - 2, place Jean Millier - Arche Nord Coupole/Regnault - 92078 Paris La Défense Cedex - France, or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SECs website: www.sec.gov.
Exhibit 99.2
Disclosure of Transactions in Own Shares
Paris, August 9th, 2018 In accordance with the authorization given by the combined ordinary and extraordinary shareholders general meeting on June 1st, 2018 to trade on its shares and pursuant to applicable law on share repurchase, TOTAL S.A. (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from August 2nd, 2018 to August 8th, 2018:
Transaction date |
Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
||||||||||||
02.08.2018 |
206,730 | 55.0172 | 11,373,706 | XPAR | ||||||||||||
02.08.2018 |
64,300 | 55.0319 | 3,538,551 | CHIX | ||||||||||||
02.08.2018 |
37,120 | 55.0260 | 2,042,565 | TRQX | ||||||||||||
02.08.2018 |
17,902 | 55.0389 | 985,306 | BATE | ||||||||||||
03.08.2018 |
232,666 | 54.8476 | 12,761,172 | XPAR | ||||||||||||
03.08.2018 |
18,300 | 54.7670 | 1,002,236 | CHIX | ||||||||||||
03.08.2018 |
| | | TRQX | ||||||||||||
03.08.2018 |
| | | BATE | ||||||||||||
06.08.2018 |
121,253 | 54.8077 | 6,645,598 | XPAR | ||||||||||||
06.08.2018 |
41,668 | 54.7819 | 2,282,652 | CHIX | ||||||||||||
06.08.2018 |
27,972 | 54.7988 | 1,532,832 | TRQX | ||||||||||||
06.08.2018 |
11,584 | 54.8273 | 635,119 | BATE | ||||||||||||
07.08.2018 |
108,358 | 55.7939 | 6,045,715 | XPAR | ||||||||||||
07.08.2018 |
39,734 | 55.7751 | 2,216,168 | CHIX | ||||||||||||
07.08.2018 |
23,024 | 55.8200 | 1,285,200 | TRQX | ||||||||||||
07.08.2018 |
12,258 | 55.8077 | 684,091 | BATE | ||||||||||||
08.08.2018 |
173,557 | 55.7422 | 9,674,449 | XPAR | ||||||||||||
08.08.2018 |
63,454 | 55.7720 | 3,538,956 | CHIX | ||||||||||||
08.08.2018 |
35,113 | 55.8296 | 1,960,345 | TRQX | ||||||||||||
08.08.2018 |
19,179 | 55.7901 | 1,069,998 | BATE | ||||||||||||
Total |
474,677 | 55.7746 | 26,474,922 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the Total website: https://www.total.com/en/investors/shares-and-dividends/Total-shares/Company-share-transactions
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Exhibit 99.3
Disclosure of Transactions in Own Shares
Paris, August 16th, 2018 In accordance with the authorization given by the combined ordinary and extraordinary shareholders general meeting on June 1st, 2018 to trade on its shares and pursuant to applicable law on share repurchase, TOTAL S.A. (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from August 9th, 2018 to August 15th, 2018:
Transaction date |
Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
||||||||||||
09.08.2018 |
145,218 | 55.2695 | 8,026,126 | XPAR | ||||||||||||
09.08.2018 |
57,260 | 55.2740 | 3,164,989 | CHIX | ||||||||||||
09.08.2018 |
39,482 | 55.2615 | 2,181,835 | TRQX | ||||||||||||
09.08.2018 |
21,356 | 55.2762 | 1,180,479 | BATE | ||||||||||||
10.08.2018 |
260,673 | 54.3193 | 14,159,575 | XPAR | ||||||||||||
10.08.2018 |
58,015 | 54.4971 | 3,161,649 | CHIX | ||||||||||||
10.08.2018 |
37,050 | 54.4971 | 2,019,118 | TRQX | ||||||||||||
10.08.2018 |
33,780 | 54.2995 | 1,834,237 | BATE | ||||||||||||
13.08.2018 |
205,614 | 54.3300 | 11,171,009 | XPAR | ||||||||||||
13.08.2018 |
| | | CHIX | ||||||||||||
13.08.2018 |
| | | TRQX | ||||||||||||
13.08.2018 |
| | | BATE | ||||||||||||
14.08.2018 |
222,766 | 53.8272 | 11,990,870 | XPAR | ||||||||||||
14.08.2018 |
11,700 | 53.7478 | 628,849 | CHIX | ||||||||||||
14.08.2018 |
6,106 | 53.7649 | 328,288 | TRQX | ||||||||||||
14.08.2018 |
3,731 | 53.7559 | 200,563 | BATE | ||||||||||||
15.08.2018 |
328,971 | 52.6854 | 17,331,969 | XPAR | ||||||||||||
15.08.2018 |
66,272 | 52.4671 | 3,477,100 | CHIX | ||||||||||||
15.08.2018 |
46,655 | 52.4131 | 2,445,333 | TRQX | ||||||||||||
15.08.2018 |
72,825 | 52.1333 | 3,796,608 | BATE | ||||||||||||
Total |
1,617,474 | 53.8485 | 87,098,596 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the Total website: https://www.total.com/en/investors/shares-and-dividends/Total-shares/Company-share-transactions
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Exhibit 99.4
Disclosure of Transactions in Own Shares
Paris, August 23rd, 2018 In accordance with the authorization given by the combined ordinary and extraordinary shareholders general meeting on June 1st, 2018 to trade on its shares and pursuant to applicable law on share repurchase, TOTAL S.A. (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from August 16th, 2018 to August 22nd, 2018:
Transaction date |
Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
||||||||||||
16.08.2018 |
180,201 | 52.3163 | 9,427,450 | XPAR | ||||||||||||
16.08.2018 |
10,179 | 52.2516 | 531,869 | CHIX | ||||||||||||
16.08.2018 |
6,770 | 52.2490 | 353,726 | TRQX | ||||||||||||
16.08.2018 |
2,582 | 52.2534 | 134,918 | BATE | ||||||||||||
17.08.2018 |
162,503 | 52.2117 | 8,484,558 | XPAR | ||||||||||||
17.08.2018 |
42,609 | 52.1981 | 2,224,109 | CHIX | ||||||||||||
17.08.2018 |
21,114 | 52.2039 | 1,102,233 | TRQX | ||||||||||||
17.08.2018 |
14,892 | 52.1959 | 777,301 | BATE | ||||||||||||
20.08.2018 |
154,223 | 52.9618 | 8,167,928 | XPAR | ||||||||||||
20.08.2018 |
29,279 | 52.9831 | 1,551,292 | CHIX | ||||||||||||
20.08.2018 |
18,465 | 52.9803 | 978,281 | TRQX | ||||||||||||
20.08.2018 |
7,665 | 52.9828 | 406,113 | BATE | ||||||||||||
21.08.2018 |
100,674 | 53.1952 | 5,355,374 | XPAR | ||||||||||||
21.08.2018 |
36,286 | 53.1875 | 1,929,962 | CHIX | ||||||||||||
21.08.2018 |
14,242 | 53.1989 | 757,659 | TRQX | ||||||||||||
21.08.2018 |
10,545 | 53.2938 | 561,983 | BATE | ||||||||||||
22.08.2018 |
89,321 | 53.6969 | 4,796,261 | XPAR | ||||||||||||
22.08.2018 |
35,963 | 53.6499 | 1,929,411 | CHIX | ||||||||||||
22.08.2018 |
15,447 | 53.6672 | 828,997 | TRQX | ||||||||||||
22.08.2018 |
11,354 | 53.6775 | 609,454 | BATE | ||||||||||||
Total |
964,314 | 52.7928 | 50,908,879 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the Total website: https://www.total.com/en/investors/shares-and-dividends/Total-shares/Company-share-transactions
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Exhibit 99.5
Press Release
Total Sells Equity in Indias Hazira Terminal and Signs LNG Sales Agreement with Shell
Paris, August 27, 2018 - Total has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India. The transaction remains subject to the approval of regulatory authorities.
In parallel, Total has signed an agreement to sell 0.5 million tons of liquefied natural gas (LNG) per year to Shell over 5 years, on a delivery basis to supply the markets of India and neighboring countries. The deliveries will be sourced from Totals global LNG portfolio and are expected to begin in 2019.
This deal enables Total to capture value through an asset disposal, while the LNG sales contract allows us to maintain the balance of our LNG portfolio, said Philippe Sauquet, President Gas, Renewables and Power. We remain committed to supply the Indian subcontinent, which is a key market experiencing strong growth in LNG demand.
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total and Total Group are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Exhibit 99.6
Disclosure of Transactions in Own Shares
Paris, August 30th, 2018 In accordance with the authorization given by the combined ordinary and extraordinary shareholders general meeting on June 1st, 2018 to trade on its shares and pursuant to applicable law on share repurchase, TOTAL S.A. (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from August 23rd, 2018 to August 29th, 2018:
Transaction date |
Total daily volume (number of shares) |
Daily weighted average purchase price of the shares (EUR/share) |
Amount of transactions (EUR) |
Market (MIC Code) |
||||||||||||
23.08.2018 |
106,702 | 54.0219 | 5,764,245 | XPAR | ||||||||||||
23.08.2018 |
31,939 | 54.0221 | 1,725,412 | CHIX | ||||||||||||
23.08.2018 |
15,746 | 54.0221 | 850,632 | TRQX | ||||||||||||
23.08.2018 |
15,148 | 54.1194 | 819,801 | BATE | ||||||||||||
24.08.2018 |
93,586 | 54.6103 | 5,110,760 | XPAR | ||||||||||||
24.08.2018 |
45,642 | 54.5691 | 2,490,643 | CHIX | ||||||||||||
24.08.2018 |
15,813 | 54.6091 | 863,534 | TRQX | ||||||||||||
24.08.2018 |
15,762 | 54.6029 | 860,651 | BATE | ||||||||||||
27.08.2018 |
104,671 | 55.3998 | 5,798,752 | XPAR | ||||||||||||
27.08.2018 |
40,393 | 55.4005 | 2,237,792 | CHIX | ||||||||||||
27.08.2018 |
9,291 | 55.3668 | 514,413 | TRQX | ||||||||||||
27.08.2018 |
11,984 | 55.4540 | 664,561 | BATE | ||||||||||||
28.08.2018 |
157,011 | 55.1617 | 8,660,994 | XPAR | ||||||||||||
28.08.2018 |
51,796 | 55.1857 | 2,858,399 | CHIX | ||||||||||||
28.08.2018 |
20,541 | 55.1864 | 1,133,584 | TRQX | ||||||||||||
28.08.2018 |
29,358 | 55.1246 | 1,618,348 | BATE | ||||||||||||
29.08.2018 |
199,356 | 54.7472 | 10,914,183 | XPAR | ||||||||||||
29.08.2018 |
56,007 | 54.7224 | 3,064,837 | CHIX | ||||||||||||
29.08.2018 |
21,856 | 54.7177 | 1,195,910 | TRQX | ||||||||||||
29.08.2018 |
14,989 | 54.7312 | 820,366 | BATE | ||||||||||||
Total |
1,057,591 | 54.8112 | 57,967,815 |
Transaction details
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) a full breakdown of the individual trades are disclosed on the Total website: https://www.total.com/en/investors/shares-and-dividends/Total-shares/Company-share-transactions
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Press Release
Total sells its polystyrene business in China to INEOS Styrolution
Paris, August 31, 2018 - Total has accepted an offer from INEOS Styrolution, the leading global styrenics supplier, to acquire its polystyrene business in China. It includes in particular two facilities with a production capacity of 200,000 tons per year each, located in Ningbo, Zhejiang Province, and in Foshan, Guangdong Province.
In a highly competitive polystyrene market, Total considered it did not have the required critical mass in China, unlike its positions in Europe and the United States.
The sale is in line with our active portfolio management strategy commented Bernard Pinatel, President, Refining & Chemicals at Total. Our polystyrene business will be now focused on Europe and North America, two markets where we are the No. 2.
INEOS Styrolution has made clear commitments to maintain the business and jobs and meet commitments to customers.
The transaction is subject to the approval of the relevant regulatory authorities.
* * * * *
About Ningbo plant
The Ningbo plant produces 200,000 tons of polystyrene a year and has 54 employees. It also includes a unit that manufactures polypropylene compounds for automotive parts. After the closing of the transaction, the polypropylene compounds production will be exclusively dedicated to Total.
About Foshan plant
The Foshan plant produces 200,000 tons of polystyrene a year and has 86 employees.
* * * * *
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total and Total Group are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Press Release
Canada: Total sells its interest in the Joslyn oil sands project to CNRL
Paris, August 31, 2018 - Total, together with its partners, has agreed to sell the Joslyn oil sands project in Alberta, Canada, to Canadian Natural Resources Limited (CNRL) for an overall consideration of 225 million Canadian dollars.
Following the oil price fall in 2014, the Joslyn project partners decided to put its further development on hold. Therefore, activities have since been limited to fulfilling regulatory requirements and ensuring the safety of the site.
Reducing our exposure to Canadas oil sands by selling this asset is in line with our global strategy to focus our oil investments on low breakeven resources and develop a resilient portfolio in the mid and long term. It is also consistent with the gradual reduction of our stake in the Fort Hills oil sands project in 2017, stated Patrick Pouyanné, Chairman and CEO of Total.
The closing of the transaction is subject to authorization by the Canadian Competition Bureau.
The Joslyn project partners are Total (operator, 38.25%), Suncor Energy Joslyn Partnership (36.75%), Joslyn Partnership (15%) and Inpex Canada Ltd (10%).
Total Exploration & Production in Canada
Total has been present in Canadas upstream since 1999. The Group holds a 24.58% interest in Fort Hills, and a 50% interest in the Surmont project.
In 2017, the Groups production in Canada was 59,000 barrels of oil per day.
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, a major player in low-carbon energies. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
* * * * *
Total contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total and Total Group are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
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