Total

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VMAQKt1J8rE7UE4AWcbUr8esOsoxi/ylllfavYXACaRoqnCoBi6EpBnQCm9dvPus g5jD10R/hKrcyeOK5kuOuA== 0001419783-08-000008.txt : 20080220 0001419783-08-000008.hdr.sgml : 20080220 20080220075732 ACCESSION NUMBER: 0001419783-08-000008 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20080220 FILED AS OF DATE: 20080220 DATE AS OF CHANGE: 20080220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOTAL SA CENTRAL INDEX KEY: 0000879764 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10888 FILM NUMBER: 08628342 BUSINESS ADDRESS: STREET 1: 2 PLACE DE LA COUPOLE STREET 2: LA DEFENSE 92078 CITY: PARIS FRANCE STATE: I0 ZIP: 00000 BUSINESS PHONE: 2129693300 MAIL ADDRESS: STREET 1: 2 PLACE DE LA COUPOLE STREET 2: LA DEFENSE 92078 CITY: PARIS FRANCE STATE: I0 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA ELF SA DATE OF NAME CHANGE: 20001010 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA SA DATE OF NAME CHANGE: 19990713 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL DATE OF NAME CHANGE: 19960103 6-K 1 y01878e6vk.htm 6-K Total

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13-a16 OR 15-d16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of: January 2008

Commission File Number: 1-10888

TOTAL S.A.

(Translation of registrant’s name into English)

2, place de la Coupole
92078 Paris La Défense Cedex
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 þ Form 40-F o

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 registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s 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 registrant’s 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 the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes o No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ___.

TABLE OF CONTENTS


SIGNATURES
EXHIBIT INDEX
EX-99.1 Liquefied Petroleum Gas Import and Storage Terminal, India
EX-99.2 Nuclear Power Plant Project Agreement, United Arab Emirates
EX-99.3 Total's Response To Erika Verdict of January 16, 2008
EX-99.4 Total Supports Jean-Louis Etienne
EX-99.5 Erika: Total Compensates Third-Parties
EX-99.6 Two Heavy Oil Study Agreements with PDVSA, Venezuela
EX 99.7 Sincor transformed into a Mixed Company, Venezuela
EX-99.8 Deep-Conversion Launched, Port Arthur Refinery, Texas
EX-99.9 Decisions of the Board of Directors Meeting, February 12, 2008
EX-99.10 2007 Results

SIGNATURES

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: February 20, 2008	By:	/s/ Charles Paris de Bollardière

		Name : Charles PARIS de BOLLARDIERE

		Title : Treasurer

EXHIBIT INDEX


Ø	EXHIBIT 99.1:	India: Commercial Start-up of a Liquefied Petroleum Gas Import and Storage Terminal (January 14, 2008).

Ø	EXHIBIT 99.2:	Signature of a Partnership Agreement for a Nuclear Power Plant Project in the United Arab Emirates (January 14, 2008).

Ø	EXHIBIT 99.3:	Total’s Response to the Erika Verdict Announced on January 16, 2008 (January 16, 2008).

Ø	EXHIBIT 99.4:	Total supports Jean-Louis Etienne (January 22, 2008).

Ø	EXHIBIT 99.5:	Erika : Total Compensates Third-Parties (January 25, 2008).

Ø	EXHIBIT 99.6:	Total Signs Two Heavy Oil Study Agreements with PDVSA in Venezuela (February 4, 2008).

Ø	EXHIBIT 99.7:	Venezuela: Sincor Officially Transformed into a Mixed Company (February 8, 2008).

Ø	EXHIBIT 99.8:	Deep-Conversion Launched at the Port Arthur Refinery in Texas (February 12, 2008).

Ø	EXHIBIT 99.9:	Decisions of the February 12, 2008 Board of Directors Meeting (February 12, 2008).

Ø	EXHIBIT 99.10:	2007 Results (February 13, 2008).

EX-99.1 2 y01878exv99w1.htm EX-99.1 LIQUEFIED PETROLEUM GAS IMPORT AND STORAGE TERMINAL, INDIA exv99w1


		News Release Communiqué de Pressee

Exhibit 99.1

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

India: Commercial Start-up of a Liquefied Petroleum
Gas Import and Storage Terminal

Paris, January 14, 2008 — Total announces the commercial start-up of a large scale liquefied petroleum gas (LPG) import and underground storage terminal located in Visakhapatnam, in the south eastern Indian state of Andhra Pradesh.

This facility is owned and operated by South Asia LPG Limited (SALPG), a company equally owned by Total and HPCL, the second largest petroleum refining and marketing public company of India.

With a storage capacity of 60,000 metric tonnes, this terminal is the largest LPG import facility of India, able to accommodate the largest LPG vessels available on the market. It is also the first underground cavern for hydrocarbon storage of India.

With the start-up of this terminal, Total strengthens its position as a participant to the growing LPG market in Asia. Total is already present in India through its activities in Liquefied Natural Gas, LPG marketing, lubricants and specialty chemicals.

* * * * *

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 95,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas trading and electricity. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

EX-99.2 3 y01878exv99w2.htm EX-99.2 NUCLEAR POWER PLANT PROJECT AGREEMENT, UNITED ARAB EMIRATES exv99w2

Exhibit 99.2

PRESS RELEASE

Signature of a Partnership Agreement for a Nuclear Power Plant Project
in the United Arab Emirates

Paris, January 14, 2008 — TOTAL, SUEZ and AREVA have signed a partnership agreement to submit a nuclear power plant project to the authorities of the United Arab Emirates. Local partners will take part in the project.

TOTAL, SUEZ and AREVA intend to submit a proposal for an integrated nuclear power generation solution comprising two 1600 MW EPRs and fuel cycle products and services.

TOTAL would provide its proven expertise in managing complex major industrial projects in close collaboration with local authorities and business, acquired through its long-established presence in the United Arab Emirates and, more generally, the Middle East.

SUEZ would contribute its expertise as a nuclear power plant operator, gained from designing and building nuclear power plants in Belgium that it has now operated for more than 30 years with a top-tier safety and availability record.

TOTAL and SUEZ are already partners in power generation and desalination in the United Arab Emirates, through the Taweelah plant, which produces around 20% of the electricity in Abu Dhabi.

Integrated on the whole nuclear cycle, AREVA would contribute its know-how covering nuclear islands and the complete fuel chain.

Press Contacts :
TOTAL — Patricia Marie : +33 1 47 44 45 90
SUEZ — Catherine Guillon : + 33 1 40 06 66 68
AREVA — Julien Duperray : +33 1 34 96 11 47

*******

TOTAL is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 95,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas trading and electricity. TOTAL is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

*******

SUEZ, an international industrial and services Group, designs sustainable and innovative solutions for the management of public utilities as a partner of public authorities, businesses and individuals. The Group aims to answer essential needs in electricity, natural gas, energy services, water and waste management. SUEZ is listed on the Brussels, Luxembourg, Paris and Zurich stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ STOXX 50, DJ EURO STOXX 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone. The Group employs 140,000 people worldwide and achieved revenues of EUR44.3 billion in 2006, 89% of which were generated in Europe and in North America. www.suez.com

*******

With manufacturing facilities in 41 countries and a sales network in more than 100 countries, AREVA offers customers reliable technological solutions for CO₂-free power generation and electricity transmission and distribution. We are the world leader in nuclear power and the only company to cover all industrial activities in this field. Our 61.000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group’s industrial strategy. AREVA’s businesses help meet the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations. www.areva.com

EX-99.3 4 y01878exv99w3.htm EX-99.3 TOTAL'S RESPONSE TO ERIKA VERDICT OF JANUARY 16, 2008 exv99w3


		News Release Communiqué de Pressee

Exhibit 99.3

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total’s Response to the Erika Verdict Announced on January 16, 2008

Paris, January 16, 2008 — Total is pleased that the last employee facing charges has been acquitted and that Total S.A. has been acquitted for reckless endangerment.

Total is disappointed that the Paris Criminal Court has imposed a fine for maritime pollution in the criminal proceedings and also ordered it to pay compensation to civil parties, especially since the court has acknowledged that the actual cause of the sinking was beyond Total’s control.

The court established that the sinking was caused by corrosion of the ship’s structures and that this corrosion resulted from gross negligence of which Total could not have been aware.

Total was found guilty of recklessness in its vessel inspection and vetting procedure. Total voluntarily introduced this procedure to enhance its shipping safety. It is therefore hard to understand how it could be found guilty for alleged shortcomings in a procedure not required by law. Furthermore, the company’s practices are compliant with standard industry practice.

To enhance efficiency and safety, international maritime law clearly separates the responsibilities of the main players in the shipping industry. The charterer is not responsible for inspecting and classifying vessels.

By assigning liability to Total, the court’s verdict could create confusion concerning the responsibilities of the players and have the contradictory effect of making shipping less safe.

Total would like to point out that it is a leading contributor to the IOPC Funds* and that all claims for compensation recognized by the organization have been settled. In addition, of its own initiative, Total spent more than €200 million to remedy as quickly as possible the consequences of the oil spill by cleaning up hard-to-access areas of the coastline, pumping out the cargo remaining in the wreck and treating waste generated by the coastal cleanup operation.

There are numerous grounds for appealing the verdict. Total has ten days in which to file an appeal.


*		The International Oil Pollution Compensation Funds provide compensation for oil pollution damage resulting from spills of persistent oil from tankers.

* * * * *

EX-99.4 5 y01878exv99w4.htm EX-99.4 TOTAL SUPPORTS JEAN-LOUIS ETIENNE exv99w4


		News Release Communiqué de Pressee

Exhibit 99.4

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total supports Jean-Louis Etiennne

Paris, January 22, 2008 — Total wishes to express its wholehearted support to its partner Jean-Louis Etienne, and also to his whole team, following the accident that happened this morning to the Total Pole Airship.

* * * * *

EX-99.5 6 y01878exv99w5.htm EX-99.5 ERIKA: TOTAL COMPENSATES THIRD-PARTIES exv99w5


		News Release Communiqué de Pressee

Exhibit 99.5

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Kevin CHURCH
Tél. : + 33 (0) 1 47 44 70 62

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Erika : Total Compensates Third-Parties

Paris, January 25, 2008 — Following the verdict announced by the Paris Criminal Court on January 16, 2008, Total has decided:

•		to immediately pay compensation to the victims of pollution, in full and final settlement, as ordered by the court;

•		to appeal a verdict that it deems unfair and that runs counter to the intended aim of enhancing maritime transportation safety.

Total will be immediately paying the court-ordered compensation to the victims of pollution, in full and final settlement.

The Erika sinking was a traumatic experience for everyone in France, from people living along the coastline to Total’s employees. When after several years the long-awaited trial was held, it provided an opportunity for all of the parties to express their positions before the Paris Criminal Court.

The January 16, 2008 verdict ordered compensation to be paid to the victims of pollution from the Erika. The Group is committed to paying the court-ordered compensation to any of the Third-Parties who are willing to accept it. A procedure is put in place to ensure that payments are made immediately and are full and final, whatever the result of the appeal.

The overall amount of the compensation is €192 million. This is in addition to the €200 million already spent by Total after the sinking to help clean up the coastline, especially hard-to-access areas, pump out the heavy fuel oil remaining in the wreck and treat the waste collected along the coast.

Total will be appealing a verdict that it deems unfair and that runs counter to the intended aim of enhancing maritime transportation safety.

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Kevin CHURCH
Tél. : + 33 (0) 1 47 44 70 62

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

The verdict is unfair because Total is being blamed for causing the sinking through lack of care during the tanker selection process. But the company was misled by certificates that masked the fact that the ship’s structure was severely deteriorated. Total is merely a user of ships; it is not its role or its business to act as a substitute for inspection companies and classification societies, the shipowner or the flag state.

The verdict runs counter to the intended aim of enhancing maritime transportation safety because it forces users to become inspectors, potentially weakening the responsibility of those who have the expertise, duty and actual power to inspect tankers, especially their structures. Contrary to what the Court is aiming to achieve, this confusion of responsibilities could eventually make shipping less safe.

With 150 tankers carrying its cargoes every day, Total is a major maritime ship user, which means that transportation safety is one of its critical concerns. Its chartering guidelines are probably the toughest in the industry especially in respect of the age of tankers and the use of double hull tankers.

Total will encourage any new international initiative designed to enhance maritime transportation safety.

* * * * *

EX-99.6 7 y01878exv99w6.htm EX-99.6 TWO HEAVY OIL STUDY AGREEMENTS WITH PDVSA, VENEZUELA exv99w6


		News Release Communiqué de Pressee

Exhibit 99.6

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Kevin CHURCH
Tél. : + 33 (0) 1 47 44 70 62

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 988 830 242,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Signs Two Heavy Oil Study Agreements with PDVSA
in Venezuela

Paris, February 4, 2007 — Total announces the signature of two joint study agreements with PDVSA concerning the Junin 10 block in the Orinoco Belt in Venezuela.

Signed by Christophe de Margerie, Chief Executive Officer of Total, and Rafael Ramirez, Minister of Energy and Petroleum of the Bolivarian Republic of Venezuela and President and Chief Executive Officer of PDVSA, the state-owned oil company, the agreements call for appraising the block’s extra-heavy crude oil reserves and examining a project to produce extra-heavy oil.

Covering nearly 600 square kilometers, the Junin 10 block is located in the Orinoco Belt, south and west of the area developed by Sincor, which is being transformed into PetroCedeño, a mixed company.

The two agreements illustrate Total and PDVSA’s commitment to maintain their cooperation over the long term, especially to develop the Orinoco Belt’s significant reserves of extra-heavy crude oil.

Total in Venezuela

Total is present in Venezuela through Sincor, which started in 2000 and has a production and conversion capacity of more than 200,000 barrels per day of extra-heavy crude oil into high quality light synthetic crude. Sincor is currently being transformed into a mixed company called PetroCedeño, in which Total will hold a 30.323% stake. Total also holds interests of 69.5% in the Yucal Placer project and 49% in the offshore Plataforma Deltana Block 4 exploration project.

* * * * *

EX-99.7 8 y01878exv99w7.htm EX 99.7 SINCOR TRANSFORMED INTO A MIXED COMPANY, VENEZUELA exv99w7


		News Release Communiqué de Pressee

Exhibit 99.7

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 981 907 382,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Venezuela: Sincor Officially Transformed into a Mixed Company

Paris, February 8, 2008 — After issuing a decree in November 2007 creating the Mixed Company PetroCedeño, the Venezuelan authorities issued on January 10, 2008 a decree transferring Sincor’s extra-heavy oil development operations in the Orinoco Belt to the new company.

Total, state-owned PDVSA and the Venezuelan Ministry of Energy and Mines finalized today the texts stipulated in June 2007 memorandum of understanding, which set out the new contractual terms and conditions governing PetroCedeño and the transferring process of Sincor into this company.

Under the terms of the final agreements, Total, which had held a 47% interest in Sincor, will have a 30.323% interest in PetroCedeño alongside PDVSA (60%) and Statoil (9.677%).

Total will be compensated with oil for the transfer of the 16.677% interest to PDVSA.

Note to Editors:

The Sincor Project:

•

Brought on stream in 2000.

• Two parts:	- Upstream development of the Zuata extra-heavy oil field in the Orinoco Belt.

	- Downstream upgrading of the extra-heavy oil in a dedicated facility in Jose on the coast.

•		Production capacity of around 200,000 barrels of extra-heavy crude oil per day, corresponding to 180,000 barrels of synthetic crude per day.

•		Concession life: 25 years from the transfer of Sincor’s heavy oil development operations to PetroCedeño.

Total in Venezuela:

•		Interests of 69.5% in the producing Yucal Placer gas project and 49% in the offshore Plataforma Deltana Block 4, which is being explored for gas.

•		Total’s equity production in 2006: 96,000 barrels of oil equivalent per day.

•		Sustainable development programmes:

	•		Micro-credit and health, cultural, education and biodiversity programmes.

	•		Plans to install solar panels to provide electricity to 2,000 traditional Warao Indian dwellings in the Orinoco Delta.

* * * * *

EX-99.8 9 y01878exv99w8.htm EX-99.8 DEEP-CONVERSION LAUNCHED, PORT ARTHUR REFINERY, TEXAS exv99w8


		News Release Communiqué de Pressee

Exhibit 99.8

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Kevin CHURCH
Tél. : + 33 (0) 1 47 44 70 62

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 988 830 242,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Deep-Conversion Launched at the Port Arthur Refinery in Texas

Paris, February 12, 2008 - Total today announces that its Port Arthur refinery in Texas (United States) has launched a project to build a 50,000-barrel-per-day coker, a desulfurization unit, a vacuum distillation unit and other related units.

Up to 2,200 people will work on the $2.2-billion project, which is scheduled for commissioning in 2011.

The new units will increase the facility’s deep-conversion capacity and expand its ability to process heavy and sour crude oil. They will add 3 million tons per year of ultra low sulfur automotive diesel to the refinery’s current production, raising total output of all products combined to around 12 million tons per year.

“This decision reflects our strategy of investing to enhance the efficiency and competitiveness of our large refining hubs worldwide, while at the same time reducing our environmental footprint,” said Michel Bénézit, President of Total Refining & Marketing.

The project is the latest step in the ongoing process of adjusting Total’s refining base to market demand, as illustrated by the distillate hydrocracker commissioned at the Normandy refinery in Le Havre (France) in 2006 and the current construction of desulfurization units at the Lindsey Oil Refinery in the United Kingdom and the Leuna refinery in Germany.

*******

Total has 7,500 employees in the United States in 18 operating subsidiaries with 74 sites in 29 states. It is active in exploration and production, oil and gas trading, refining, petrochemicals, lubricants and specialty chemicals in the country.

EX-99.9 10 y01878exv99w9.htm EX-99.9 DECISIONS OF THE BOARD OF DIRECTORS MEETING, FEBRUARY 12, 2008 exv99w9


		News Release Communiqué de Pressee

Exhibit 99.9

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax: + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel. : + 33 (0) 1 47 44 37 76

Patricia MARIE
Tel. : + 33 (0) 1 47 44 45 90

Christine de CHAMPEAUX
Tel. : + 33 (0) 1 47 44 47 49

Kevin CHURCH
Tél. : + 33 (0) 1 47 44 70 62

Sandra DANTE
Tel. : + 33 (0) 1 47 44 46 07

Philippe GATEAU
Tel. : + 33 (0) 1 47 44 47 05

Elisabeth de REALS
Tel. : + 33 (0) 1 47 44 51 55

Burkhard REUSS
Tel. : + 33 (0) 1 47 44 21 19

Lisa WYLER
Tel. : +33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 988 830 242,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Decisions of the February 12, 2008 Board of Directors Meeting

Paris, February 12, 2008 — The Board of Directors of Total, led by Chairman Thierry Desmarest, met on February 12, 2008 to review the fourth quarter 2007 accounts, to close the parent company and consolidated accounts for 2007, and to propose a dividend to submit to the May 16, 2008 Annual Shareholders Meeting.

This information will be the subject of a press release that is scheduled to be published on February 13, 2008 at 08:00, Paris time.

The Board also decided to submit to the Annual Shareholders Meeting in Paris on May 16, 2008, the re-election for three-year terms as directors of Mr. Paul Desmarais Jr., Mr. Bertrand Jacquillat and Lord Peter Levene, as well as the nomination for the same period as directors for the company, of Mrs. Patricia Barbizet and Mr. Claude Mandil.

* * * * *

EX-99.10 11 y01878exv99w10.htm EX-99.10 2007 RESULTS exv99w10


		News Release Communiqué de Presse

Exhibit 99.10

Paris, February 13, 2008

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Fourth quarter 2007 adjusted net income¹ : 3.1 billion euros
Full-year 2007 adjusted net income : 12.2 billion euros
2007 investments : 16.1 billion dollars
2007 hydrocarbon production increased by 1.5% ² to 2,391 kboe/d
Proposed 2007 dividend of 2.07 euros per share,
a 11% increase (23% in dollars³)

Main results^2-4


• Fourth quarter adjusted net income	3.1	billion euros	+14%
	4.5	billion dollars	+28%
	1.37	euros per share	+15%
	1.99	dollars per share	+29%

• 2007 adjusted net income	12.2	billion euros	-3%
	16.7	billion dollars	+6%
	5.37	euros per share	-1%
	7.35	dollars per share	+8%

• 2007 net income (Group share)	13.2	billion euros	+12%

Highlights since the start of the fourth quarter 2007

•

Upstream production rose to 2,461 kboe/d in the fourth quarter 2007

Increase of 2.4% compared to the 4th quarter 2006

•		*Start-ups of the Sisi-Nubi gas field in Indonesia, the Surmont field in Canada, and the distillate hydrocracker at the Dalian refinery in China*

•		*Extended production contract for the Bongkot field in Thailand*

•		*Finalized conversion of Sincor into a mixed company in Venezuela*

•		*Launched Angola LNG and Pazflor in Angola and the modernization program for the Port Arthur refinery in the United States*

•		*Divested the interest in the Milford Haven refinery and Interconnector gas pipeline in the UK and sold a 10% interest in the Joslyn project in Canada*

•		*Continued exploration success*

	§		Discoveries on ultra-deep offshore Block 32 in Angola and MTPS in Congo

	§		Additional acreage in Chile and Yemen

•		*Signed partnership agreements to study a heavy oil project in Venezuela and a nuclear power plant project in the UAE*

•		*Sold 0.4% of Sanofi-Aventis capital*


¹		adjusted net income = net income using replacement cost (Group share) adjusted for special items and excluding Total’s share of amortization of intangibles related to the Sanofi-Aventis merger.

²		percent changes are relative to the same period 2006.

³		expressed in dollars, based on 1 € = 1.45 $ on the payment date for the remainder of the dividend.

⁴		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period : 1.4486 $/€ in the fourth quarter 2007, 1.2887 $/€ in the fourth quarter 2006, 1.3738 $/€ in the third quarter 2007, 1.3704 $/€ for 2007 and 1.2556 $/€ for 2006.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

The Board of Directors of Total, led by Chairman Thierry Desmarest, met on February 12, 2008 to review the Group’s fourth quarter 2007 accounts and to close the parent company and consolidated accounts for the year 2007.

Adjusted net income was 12,203 million euros (M€), a decrease of 3% compared to 2006.

Commenting on the results, CEO Christophe de Margerie said :

« In 2007, market conditions for the petroleum industry were generally favorable. The Brent price rose by 11%, reflecting the robust demand for oil and higher project costs. The average price for natural gas declined in 2007, notably in Northern Europe.

In the Downstream business of the petroleum chain, refining margins were higher on average compared to 2006 but very volatile. The environment for petrochemicals was favorable for the first nine months of 2007 but deteriorated quickly when naphtha prices increased sharply late in the year.

The value of the dollar fell by 8% relative to the euro.

In this context, the adjusted earnings per share expressed in dollars increased by 8% and the profitability of the business segments was 27%. The Group benefited from hydrocarbon production growth of 1.5% in 2007, which was mainly due to the ramp-up of production on the Dalia field in Angola and the successful start-ups of the major projects, Rosa in Angola and Dolphin in the Middle East. In addition, through disciplined management and continued productivity plans, the Group has been able to mitigate the still substantial impact of cost inflation.

In 2007, Total continued to strengthen the foundation for its long-term growth by investing 16.1 billion dollars. In recent months, we launched a new giant project, Pazflor in Angola, in West Africa’s prolific deep-offshore area.

Safety is a priority : over the past six years we have shown continuous improvement, and in 2007 our accident rate was reduced by 20%.

In the framework of its policy to protect the environment, Total intensified its efforts in the fight against global climate change by launching a pilot program to test promising new technology for the capture and sequestration of CO₂ at our Lacq field in France.

Among its other achievements in 2007, Total signed a major agreement with Gazprom to study the development of the Shtokman field in Russia, continued to improve the competitive position of its refining and petrochemicals operations by initiating targeted actions, and made further advances in alternative energies.

Confident of our ability to implement our model of sustainable growth, we have decided to propose a 11% increase in the dividend to 2.07 euros per share at the May 16, 2008 Annual Shareholders Meeting.»

¨ ¨ ¨

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

• Key figures and consolidated accounts of Total⁵

4Q07

2007

in millions of euros

4Q07

3Q07

4Q06

except earnings per share and number of shares

2007

2006

43,185

39,430

36,433

+19

Sales

158,752

153,802

6,701

5,770

5,454

+23

Adjusted operating income from business segments

23,956

25,166

-5

3,202

3,000

2,689

+19

Adjusted net operating income from business segments

12,231

12,377

-1

2,569

2,227

1,885

+36

• Upstream

8,849

8,709

546

526

549

-1

• Downstream

2,535

2,784

-9

247

255

-66

• Chemicals

847

884

-4

3,107

3,004

2,737

+14

Adjusted net income

12,203

12,585

-3

1.37

1.32

1.20

+15

Adjusted fully-diluted earnings per share (euros)

5.37

5.44

-1

2,265.6

2,272.6

2,288.1

-1

Fully-diluted weighted-average shares (millions)

2,274.4

2,312.3

-2

3,600

3,121

2,225

+62

Net income (Group share)

13,181

11,768

+12

4,028

2,590

3,656

+10

Investments

11,722

11,852

-1

981

109

1,071

-8

Divestments (at selling price)

1,556

2,278

-32

4,160

3,549

2,123

+96

Cash flow from operations

17,686

16,061

+10

4,393

4,260

3,454

+27

Adjusted cash flow from operations

17,332

16,816

4Q07

2007

expressed in million of dollars⁶

4Q07

3Q07

4Q06

except earnings per share and number of shares

2007

2006

62,558

54,169

46,951

+33

Sales

217,554

193,114

+13

9,707

7,927

7,029

+38

Adjusted operating income from business segments

32,829

31,598

4,638

4,121

3,465

+34

Adjusted net operating income from business segments

16,761

15,541

3,721

3,059

2,429

+53

• Upstream

12,126

10,935

+11

791

723

707

+12

• Downstream

3,474

3,496

-1

126

339

329

-62

• Chemicals

1,161

1,110

4,501

4,127

3,527

+28

Adjusted net income

16,723

15,802

1.99

1.82

1.54

+29

Adjusted fully-diluted earnings per share (dollars)

7.35

6.83

2,265.6

2,272.6

2,288.1

-1

Fully-diluted weighted-average shares (millions)

2,274.4

2,312.3

-2

5,215

4,288

2,867

+82

Net income (Group share)

18,063

14,776

+22

5,835

3,558

4,711

+24

Investments

16,064

14,881

1,421

150

1,380

Divestments (at selling price)

2,132

2,860

-25

6,026

4,876

2,736

+120

Cash flow from operations

24,237

20,166

+20

6,364

5,852

4,451

+43

Adjusted cash flow from operations

23,752

21,114

+12


⁵		adjusted income (adjusted operating income, adjusted net operating income and adjusted net income) is defined as income using replacement cost, adjusted for special items affecting operating income and excluding Total’s equity share of amortization of intangibles related to the Sanofi-Aventis merger; adjusted cash flow from operations is defined as cash flow from operations before changes in working capital at replacement cost; adjustment items are listed on page 18.

⁶		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

• Fourth quarter 2007 results

> Operating income

In the fourth quarter 2007, the average Brent price rose to 88.5 $/b, an increase of 48% compared to the fourth quarter 2006 and 18% compared to the third quarter 2007. The European refining margin indicator (TRCV) rose to 30.1 $/t on average over the quarter, an increase of 32% compared to the fourth quarter 2006 and 26% compared to the third quarter 2007.

Petrochemical margins in Europe were down sharply compared to the fourth quarter 2006 and third quarter 2007, mainly as a result of the rapid increase in the price of naphtha late in the year.

The euro-dollar exchange rate was 1.45 $/€ in the fourth quarter 2007 compared to 1.29 $/€ in the fourth quarter 2006 and 1.37 $/€ in the third quarter 2007.

In this context, adjusted operating income from the business segments rose to 6,701 M€, an increase of 23% compared to the fourth quarter 2006⁷, or expressed in dollars an increase of 38%.

Adjusted net operating income from the business segments rose to 3,202 M€ from 2,689 M€ in the fourth quarter 2006, an increase of 19%. This increase, which is smaller than the percentage increase in operating income, is essentially due to a larger contribution from Upstream between the two quarters. Expressed in dollars, the adjusted net operating income from the business segments rose to 4.6 billion dollars (B$), an increase of 34% compared to the fourth quarter 2006.

> Net income

Adjusted net income was 3,107 M€ compared to 2,737 M€ in the fourth quarter 2006, an increase of 14%. Expressed in dollars, adjusted net income increased by 28%. This excludes the after-tax inventory effect, special items, and the Group’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger.

•		The after-tax inventory effect had a positive impact on net income of 530 M€ in the fourth quarter 2007 and a negative impact of 436 M€ in the fourth quarter 2006.

•		Special items had a positive impact on net income of 56 M€ in the fourth quarter 2007 and were comprised mainly of gains on divestments, partially offset by impairments. In the fourth quarter 2006, special items had a negative impact on net income of 18 M€ and were comprised mainly, on one side of restructuring charges in the Chemicals segment and the Group’s share of special items recorded by Sanofi-Aventis, and on the other side of gains on asset sales.

•		The Group’s share of the amortization of intangibles related to the Sanofi-Aventis merger had a negative impact on net income of 93 M€ in the fourth quarter 2007 and 58 M€ in the fourth quarter 2006.

Reported net income was 3,600 M€ compared to 2,225 M€ in the fourth quarter 2006.

The effective tax rate⁸ for the Group increased to 59% in the fourth quarter 2007 from 57% in the fourth quarter 2006, essentially due to the larger contribution of the Upstream segment to the results.

In the fourth quarter 2007, the Group bought back 9 million of its shares for 500 M€.

Adjusted fully-diluted earnings per share, based on 2,265.6 million fully-diluted weighted-average shares increased by 15% to 1.37 euros in the fourth quarter 2007 from 1.20 euros in the fourth quarter 2006.

Expressed in dollars, adjusted fully-diluted earnings per share increased by 29% to 1.99.


⁷		special items affecting operating income from the business segments had a negative impact of 35 M€ in the fourth quarter 2007; special items had no effect on operating income in the fourth quarter 2006; special items are detailed on page 18.

⁸		defined as: (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates, dividends received from investments and impairments of acquisition goodwill + tax on adjusted net operating income).

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

> Investments – divestments

Investments were 4,028 M€ in the fourth quarter 2007 compared to 3,656 M€ in the fourth quarter 2006⁹.

Divestments in the fourth quarter 2007 were 981 M€ and included the sale of the Group’s interests in the Interconnector gas pipeline and the Milford Haven refinery in the United Kingdom as well as the sale of some Sanofi-Aventis shares.

Expressed in dollars, investments were 5.8 B$.

Net investments were 4.4 B$in the fourth quarter 2007.

> Cash flow

Cash flow from operations was 4,160 M€ in the fourth quarter 2007, an increase of 96% compared to the fourth quarter 2006¹⁰.

Adjusted cash flow¹¹ was 4,393 M€, an increase of 27%¹⁰.
Expressed in dollars, adjusted cash flow was 6.4 B$, an increase of 43%.

Net cash flow¹² was a positive 1,113 M€ in the fourth quarter compared to a negative 462 M€ in the fourth quarter 2006. Expressed in dollars, the Group’s net cash flow was 1.6 B$ in the fourth quarter 2007.


⁹		there were no acquisitions in the fourth quarter 2007 ; in the fourth quarter 2006 acquisitions were 302 M€.

¹⁰		excluding the impact of the fourth quarter 2006 accounting change to reintegrate into cash flow from operations certain exploration costs charged directly to expense in the amount of 264 M€ for the first nine months of 2006, the increase would have been 74%. The change in adjusted cash flow would have been 18%.

¹¹		cash flow from operations at replacement cost before changes in working capital.

¹²		net cash flow = cash flow from operations + divestments – investments.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

• Full year 2007 results

> Operating income

Compared to 2006, on average the oil market environment in 2007 was marked by an increase in oil prices (+11% for Brent to 72.4 $/b) and refining margins (+12% for the TRCV European refining margin indicator to 32.5 $/t).

The environment for Chemicals weakened between the two years, essentially due to the negative impact on petrochemical margins from the rapid increase in the price of naphtha late in 2007.

The euro-dollar exchange rate was 1.37 $/€ in 2007 compared to 1.26 $/€ in 2006, representing an 8% decline in the value of the dollar.

In this context, the adjusted operating income from the business segments was 23,956 M€, a decrease of 5% compared to 2006¹³. Expressed in dollars, adjusted operating income from the business segments increased by 4%.

Adjusted net operating income from the business segments was 12,231 M€ compared to 12,377 M€ in 2006, a decrease of 1%. The lower percentage decrease relative to the decrease in adjusted operating income is partially due to an increase in the contribution from equity affiliates.

Expressed in dollars, adjusted net operating income from the business segments increased by 8% to 16.8 B$.

> Net income

Adjusted net income declined by 3% to 12,203 M€ from 12,585 M€ in 2006. Expressed in dollars, adjusted net income increased by 6% to 16.7 B$. This excludes the after-tax inventory effect, special items, and the Group’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger.

	•		The after-tax inventory effect had a positive impact on net income of 1,285 M€ in 2007 compared to a negative impact of 358 M€ in 2006.

	•		Special items had a positive impact on net income of 11 M€ in 2007 compared to a negative impact of 150 M€ in 2006¹⁴.

	•		The Group’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger had a negative impact on net income of 318 M€ in 2007 and 309 M€ in 2006.

Reported net income was 13,181 M€ in 2007 compared to 11,768 M€ in 2006.

The Group’s effective tax rate was 56% in 2007, stable compared to 2006. The Upstream segment had a comparable relative weight in the results in both years.

The Group bought back 32.4 million of its shares¹⁵ in 2007 for 1,787 M€. The number of fully-diluted shares at December 31, 2007 was 2,265.2 millions compared to 2,285.2 million at December 31, 2006. The Group continued to buy back shares in January 2008, acquiring 4.1 million shares for 211 M€.

Adjusted fully-diluted earnings per share, based on 2,274.4 million fully-diluted weighted-average shares was 5.37 euros compared to 5.44 euros in 2006, a decrease of 1%, which is a smaller decrease than shown for adjusted net income thanks to the accretive effect of the share buybacks.

Expressed in dollars, adjusted fully-diluted earnings per share increased by 8% to 7.35.


¹³		special items affecting operating income from the business segments had a negative impact of 35 M€ in 2007 and 177 M€ in 2006 ; special items are detailed on page 18.

¹⁴		special items are detailed on page 18.

¹⁵		includes 2.4 million shares purchased to cover the program of restricted share grants for employees per the Board of Directors decision on July 17, 2007.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

> Investments — divestments

Investments were 11,722 M€ compared to 11,852 M€ in 2006. Included in the 2007 investments are 161 M€ of acquisitions related primarily to new permits¹⁶.

Divestments were 1,556 M€ in 2007 compared to 2,278 M€ in 2006. The 2007 divestments included Upstream assets in Canada, the United Kingdom and Norway and Downstream assets in the United Kingdom, as well as the progressive sale of shares representing 0.4% of Sanofi-Aventis capital in the fourth quarter for 316 M€.

Expressed in dollars, investments in 2007 increased by 8% to 16.1 billion.

Excluding acquisitions, 2007 investments were 15.8 B$ compared to 13.9 B$ in 2006.

Net investments were 13.9 B$ in 2007, a 16% increase compared to 2006.

> Cash flow

Cash flow from operations was 17,686 M€ in 2007, a 10% increase compared to 2006.

Adjusted cash flow¹⁷ was 17,332 M€, a 3% increase compared to 2006.

Expressed in dollars, adjusted cash flow increased by 12% to 23.8 B$.

Net cash flow was 7,520 M€ in 2007 compared to 6,487 M€ in 2006. Expressed in dollars, net cash flow increased by 27% to 10.3 B$.

The net-debt-to-equity ratio was 27% at December 31, 2007 compared to 34% at December 31, 2006¹⁸.


¹⁶		in 2006, acquisitions were 611 M€.

¹⁷		cash flow from operations at replacement cost before changes in working capital.

¹⁸		calculations shown on page 19.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

• Analysis of business segment results

Upstream

> Environment — liquids and gas price realizations*


						4Q07								2007
						vs								vs
4Q07		3Q07		4Q06		4Q06				2007		2006		2006

	88.5		74.7		59.6		+48	%	Brent ($/b)		72.4		65.1		+11	%
	84.5		71.4		57.1		+48	%	Average liquids price ($/b)		68.9		61.8		+11	%
	6.08		4.83		6.16		-1	%	Average gas price ($/Mbtu)		5.40		5.91		-9	%
	65.7		55.4		49.6		+32	%	Average hydrocarbons price ($/boe)		55.2		51.9		+6	%


*		consolidated subsidiaries, excluding fixed margin and buy-back contracts

The increase in Total’s average realized liquids price was in line with the increase in the Brent price in both the fourth quarter and full year 2007 compared to the same periods in 2006.

The average realized price for Total’s natural gas declined due to weakness in the UK spot price as well as the second-half 2007 ramp-up in production from Dolphin in the Middle East.

> Production


						4Q07								2007
						vs								vs
4Q07		3Q07		4Q06		4Q06			Hydrocarbon production	2007		2006		2006

	2,461		2,352		2,403		+2.4	%	Combined production (kboe/d)		2,391		2,356		+1.5	%
	1,530		1,481		1,513		+1.1	%	• Liquids (kb/d)		1,509		1,506		+0.2	%
	5,223		4,741		4,989		+4.7	%	• Gas (Mcf/d)		4,839		4,674		+3.5	%

Hydrocarbon production was 2,461 thousand barrels of oil equivalent per day (kboe/d) in the fourth quarter 2007 compared to 2,403 kboe/d in the fourth quarter 2006, an increase of close to 2.5% mainly as a result of :

	•		+5.5% from net growth, primarily from production ramp-ups and start-ups of new projects such as Dalia, Rosa, Dolphin and Shah Deniz,

	•		-0.5% from the impact of the May 2007 fire on the Nkossa platform in Congo,

	•		-1.5% from the price effect¹⁹,

	•		-1% from changes in portfolio, mainly the termination of a concession in Dubai.

Excluding the price effect and changes in the portfolio, underlying production growth was 5% between the fourth quarter 2006 and the fourth quarter 2007.

For the full year 2007, hydrocarbon production was 2,391 kboe/d compared to 2,356 kboe/d in 2006, an increase of 1.5% mainly as a result of :

	•		+5% from net growth, primarily from production ramp-ups and start-ups of major Total-operated projects, including Dalia, Rosa and Dolphin,

	•		-0.5% from the impact of the May 2007 fire on the Nkossa platform in Congo,

	•		-2% from the price effect¹⁹, OPEC reductions and shutdowns in Nigerian delta because of security issues,

	•		-1% from changes in portfolio, mainly the termination of a concession in Dubai.


¹⁹		impact of changing hydrocarbon prices on entitlement volumes.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

> Year-end 2007 reserves


Reserves at December 31	2007		2006		%

Hydrocarbon reserves (Mboe)		10,449		11,120		-6	%
• Liquids (Mb)		5,778		6,471		-11	%
• Gas (Bcf)		25,730		25,539		+1	%

Proved reserves based on SEC rules were 10,449 Mboe at December 31, 2007. At the 2007 average rate of production, the reserve life is close to 12 years.

Excluding the impact of changing year-end prices (based on Brent stable at year-end 2006 price of 58.93 $/b) and excluding acquisitions and divestments, the 2007 reserve replacement rate was 102% for the Group (consolidated subsidiaries and equity affiliates).

Based on proved reserves calculated according to SEC rules (Brent at 93.72 $/b), the 2007 reserve replacement rate²⁰, excluding acquisitions and divestments, was 78%.
Including acquisitions and divestments (essentially the sale of 16.7% of Sincor to PDVSA), it is 23%.

At year-end 2007, Total had a solid and diversified portfolio of proved and probable reserves²¹ representing 20 Bboe, or more than a 20 reserve life based on the 2007 average production rate, and resources²² representing more than 40 years of production.

> Results


						4Q07								2007
						vs								vs
4Q07		3Q07		4Q06		4Q06			in millions of euros	2007		2006		2006

	5,838		4,861		4,330		+35	%	Adjusted operating income*		19,514		20,307		-4	%
	2,569		2,227		1,885		+36	%	Adjusted net operating income*		8,849		8,709		+2	%
	251		183		176		+43	%	• Includes income from equity affiliates		810		645		+26	%
	2,803		1,981		2,638		+6	%	Investments		8,882		9,001		-1	%
	324		63		523		-38	%	Divestments at selling price		751		1,458		-48	%
	3,348		1,697		1,788		+87	%	Cash flow		12,692		11,524		+10	%
	3,288		3,297		2,371		+39	%	Adjusted cash flow		12,562		12,150		+3	%


*		detail of adjustment items shown in business segment information

Adjusted net operating income for the Upstream segment was 2,569 M€ in the fourth quarter 2007 compared to 1,885 M€ in the fourth quarter 2006, an increase of 36%.

Expressed in dollars, adjusted net operating income from the Upstream segment increased by 53%, mainly due to higher hydrocarbon price realizations and the positive contribution of new 2007 production.


²⁰		change in reserves excluding production i.e. (revisions + discoveries, extensions + acquisitions – divestments) / production for the period.

²¹		limited to proved and probable reserves covered by E&P contracts on fields that have been drilled and for which technical studies have demonstrated economic development in a 60 $/b Brent environment, including the portion of heavy oil in the Joslyn field developed by mining.

²²		proved and probable reserves plus potentially recoverable quantities from known accumulations (Society of Petroleum Engineers — 03/07).

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

The effective tax rate for the Upstream segment was 61% in the fourth quarter 2007 compared to 62% in the fourth quarter 2006.

For the full year 2007, adjusted net operating income from the Upstream segment was 8,849 M€ compared to 8,709 M€ in 2006, an increase of 2%.

Expressed in dollars, adjusted net operating income from the Upstream segment was 12.1 B$ in 2007, an increase of 1.2 B$ compared to 2006 that was mainly due to the positive effects of the more favorable environment (+1.1 B$) and production growth (+0.85 B$), partially offset by the impacts of increased exploration (-0.35 B$) and higher production costs (approx -0.4 B$).

Technical costs (FAS 69, consolidated subsidiaries) were 12.4 $/boe in 2007 compared to 9.9 $/boe in 2006, an increase of 2.5 $/boe essentially due to cost inflation (+1.0 $/boe), the impact of increased exploration (+0.5 $/boe) and maintenance (+0.3 $/boe) and the effect of the environment (+0.4 $/boe).

The return on average capital employed (ROACE²³) for the Upstream segment was 34% in 2007 compared to 35% in 2006.


²³		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 20.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Downstream

> Refinery throughput


									4Q07										2007
									vs										vs
4Q07			3Q07			4Q06			4Q06			Refinery throughput (kb/d)	2007			2006			2006

	2,399			2,471			2,435			-1	%	Total refinery throughput*		2,413			2,454			-2	%
	872			915			971			-10	%	• France		927			933			-1	%
	1,219			1,253			1,210			+1	%	• Rest of Europe*		1,190			1,224			-3	%
	308			303			254			+21	%	• Rest of world		296			297			—
												Utilization rates
	87	%		88	%		86	%				• Based on crude only		87	%		88	%
	89	%		92	%		90	%				• Based on crude and other feedstock*		89	%		91	%


*		includes share of Cepsa

In the fourth quarter 2007, the utilization rate based on crude throughput was 87% (89% based on crude and other feedstock) compared to 86% in the fourth quarter 2006 and 88% in the third quarter 2007.

Turnarounds at the Lindsey and Normandy refineries, which were started at the end of the third quarter 2007, were completed during the fourth quarter 2007, and there was also a turnaround at the Feyzin refinery in November.

In the fourth quarter 2006, there were voluntary throughput reductions due to negative distillation margins and a major turnaround of the Port Arthur cracker.

For the year 2007, the utilization rate based on crude throughput was 87% (89% based on crude and other feedstock) compared to 88% (91% based on crude and other feedstock) in 2006. Ten refineries were affected by maintenance shutdowns in 2007 compared to three in 2006. Maintenance activity in 2008 should be comparable to 2007.

> Results


						4Q07
						vs			in millions of euros
4Q07		3Q07		4Q06		4Q06			except TRCV refining margins	2007		2006		2007 vs 2006

	30.1		23.9		22.8		+32	%	European refining margin indicator — TRCV ($/t)		32.5		28.9		+12	%
	744		566		750		-1	%	Adjusted operating income*		3,287		3,644		-10	%
	546		526		549		-1	%	Adjusted net operating income*		2,535		2,784		-9	%
	58		63		63		-8	%	• Includes income from equity affiliates		258		269		-4	%
	849		381		703		+21	%	Investments		1,875		1,775		+6	%
	317		27		275		+15	%	Divestments at selling price		394		428		-8	%
	372		439		261		+43	%	Cash flow		4,148		3,626		+14	%
	495		743		844		-41	%	Adjusted cash flow		3,276		3,904		-16	%


*		detail of adjustment items shown in business segment information

Adjusted net operating income from the Downstream segment was 546 M€ in the fourth quarter 2007 compared to 549 M€ in the fourth quarter 2006, a decrease of 1%.
The benefit of higher refining margins was mainly offset by a less favorable marketing environment and the impact of the dollar depreciating relative to the euro.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

For the full year 2007, adjusted net operating income from the Downstream segment was 2,535 M€ compared to 2,784 M€ in 2006, a decrease of 9%.

Expressed in dollars, adjusted net operating income was 3.5 B$ in 2007, stable compared to 2006.
This result reflects the impact of an overall slightly negative environment, for -0.05 B$, mainly due to weaker conditions for marketing. Cost inflation had an impact of -0.1 B$. The 2007 results were also affected by higher maintenance activity for -0.15 B$ and the positive effect of growth and productivity programs for +0.3 B$, notably the contribution from the Normandy DHC for a full year.

The ROACE for the Downstream segment was 21% in 2007 compared to 23% in 2006.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Chemicals

> Results


						4Q07
						vs
4Q07		3Q07		4Q06		4Q06			in millions of euros	2007		2006		2007 vs 2006

	4,884		4,856		4,610		+6	%	Sales		19,805		19,113		+4	%
	3,134		3,071		2,891		+8	%	• Base chemicals		12,558		12,011		+5	%
	1,750		1,785		1,719		+2	%	• Specialties		7,247		7,101		+2	%
	119		343		374		-68	%	Adjusted operating income *		1,155		1,215		-5	%
	87		247		255		-66	%	Adjusted net operating income *		847		884		-4	%
	-8		140		168				• Base chemicals		431		486		-11	%
	97		99		82		+18	%	• Specialties		413		381		+8	%
	365		200		293		+25	%	Investments		911		995		-8	%
	20		15		29		-31	%	Divestments at selling price		83		128		-35	%
	518		217		725		-29	%	Cash flow		1,096		972		+13	%
	162		300		331		-51	%	Adjusted cash flow		1,093		1,220		-10	%


*		detail of adjustment items shown in business segment information

Sales for the Chemicals segment were 4,884 M€ in the fourth quarter 2007 compared to 4,610 M€ in the fourth quarter 2006, an increase of 6%.

Adjusted net operating income for the Chemicals segment was 87 M€, a 66% decrease compared to the fourth quarter 2006.

The decrease was essentially due to the impact of the sharp and strong increase in the price of the raw material naphtha on petrochemical margins and the weakness of aromatics margins in the fourth quarter.

Specialties continued to benefit from global economic growth and performed well.

For the full year 2007, adjusted net operating income for the Chemicals segment was 847 M€ compared to 884 M€ in 2006, a decrease of 4%²⁴.
Expressed in dollars, the 0.07 B$²⁵ increase reflects the positive impact of growth and productivity programs (+0.18 B$) which was partially offset by the negative impact of the petrochemical environment (-0.11 B$), essentially linked to the weak margins in the fourth quarter 2007.

The ROACE for the Chemicals segment was 12% in 2007 compared to 13% in 2006.


²⁴		a decrease of 2% excluding from the 2006 results the 18 M€ of deferred tax credits related to Arkema activities.

²⁵		excludes from the 2006 results the amount of deferred tax credits related to Arkema activities.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

• TOTAL S.A. parent company accounts and proposed dividend

Net income for Total SA, the parent company, was 5,779 M€ in 2007 compared to 5,252 M€ in 2006. After reviewing the accounts, the Board of Directors decided to propose at the May 16, 2008 Annual Meeting a dividend of 2.07 euros per share for 2007, an increase of 11% compared to the previous year.

Based on 2007 adjusted net income, Total’s pay-out ratio would be 39%.

Taking into account the interim dividend of 1 euro per share paid on November 16, 2007, the remaining 1.07 euros per share would be paid on May 23, 2008²⁶.

• Summary and outlook

The ROACE for the Group was 24% in 2007 (27% for the business segments) compared to 26% and 29% respectively in 2006.

Return on equity was 31% in 2007 compared to 33% in 2006.

In Upstream, Total intends to pursue its strategy of profitable organic growth which should translate to an increase in hydrocarbon production of 4% per year on average over the period 2006 to 2010 based on a 60 $/b Brent environment²⁷. The growth stems primarily from major Total-operated projects recently put into production (Dalia, Rosa and Dolphin) or in the development phase and generally on track. The growth is particularly sensitive to LNG, where Total’s sales²⁸ are expected to grow by 13% per year on average over the period 2006-2010.

Total’s portfolio of projects provides strong visibility for growth beyond 2010, mainly thanks to a large and successful exploration program over the past years and to major new projects in LNG and heavy oil.

In Downstream, the Group is pursuing its strategy of consolidation and modernization of its refining activities in Europe and in the United States. In the context of increasing its exposure to growing markets, such as Asia and the Middle East, the Group is finalizing the study of the Jubail refinery project in Saudi Arabia.

In petrochemicals, Total maintains its objective to concentrate its activities on large integrated platforms in Europe and the United States while developing growth projects based on ethane feedstocks in Qatar and Algeria.

Implementing the Group’s growth strategy calls for a sustained investment program. The 2008 Capex budget is approximately 19 B$²⁹, 75% of it for the Upstream segment.

In parallel with the investment program, Total plans to continue to optimize its asset portfolio, notably through the progressive divestment of its shareholding in Sanofi-Aventis which began in the fourth quarter of 2007.

The Group maintains its net-debt-to-equity ratio around its target range of 25-30%.

In addition, Total expects to pursue a policy of competitive dividend growth relative to the other major oil companies.

Significant events expected in 2008 include the ramp up in production from Dolphin in Qatar and the start up of production from several Upstream projects, such as Jura in the United Kingdom and Moho Bilondo in Congo. These projects set the stage for the Group to report significant production growth in 2008.

Since the start of 2008, European refining margins have been under pressure and the environment for petrochemicals has been generally unfavorable. In contrast, the price of Brent crude has stabilized at a high level, around 90 $/b, after hitting a record high of nearly 100 $/b at the beginning of 2008.

¨ ¨ ¨


²⁶		in accordance with the new calendar established for stock-related events by Euronext Paris on November 26, 2007, the payment date for the remainder of the 2007 dividend will be May 20, 2008.

²⁷		excluding the effect of portfolio changes.

²⁸		sales, Group share, excluding trading.

²⁹		including net investments in equity affiliates and non-consolidated companies, excluding acquisitions and based on 1 € = 1.50 $.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

To listen to the presentation to financial analysts by Christophe de Margerie today at 11:00 (Paris time) please log on to www.total.com or call +44 (0)203 043 2440 in Europe or +1 866 907 5925 in the US (access code : Total). For a replay, please consult the website or call +44 (0)207 075 3214 in Europe or 1 866 828 2261 in the US (code : 213 598).

To listen to the presentation in London tomorrow at 12:30 (London time) please log on to www.total.com or call +44 (0)161 601 8920 in Europe or +1 866 907 5924 in the US (access code : Total). For a replay, please consult the website or call +44 (0)207 075 3214 in Europe or 1 866 828 2261 in the US (code : 213 599).

This document does not constitute the Financial Report for 2007 which will be published separately, in accordance with article L.451-1-2 III of the French Code monétaire et financier, and will be available on our web site www.total.com or upon request at the company’s headquarters.

This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, business, strategy and plans of Total. Such statements are based on a number of assumptions that could ultimately prove inaccurate, and are subject to a number of risk factors, including currency fluctuations, the price of petroleum products, the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations, environmental regulatory considerations and general economic and business conditions. Total does not assume any obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Further information on factors which could affect the company’s financial results is provided in documents filed by the Group and its affiliates with the French Autorité des Marchés Financiers and the US Securities and Exchange Commission.

Business segment information is presented in accordance with the Group internal reporting system used by the Chief operating decision maker to measure performance and allocate resources internally. Due to their particular nature or significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, certain transactions such as restructuring costs or assets disposals, which are not considered to be representative of normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to recur within following years.

The adjusted results of the Downstream and Chemical segments are also presented according to the replacement cost method. This method is used to assess the segments’ performance and ensure the comparability of the segments’ results with those of the Group’s main competitors, notably from North America. In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the income statement is determined by the average price of the period rather than the historical value. The inventory valuation effect is the difference between the results according to FIFO (First-In, First-Out) and replacement cost.

In this framework, performance measures such as adjusted operating income, adjusted net operating income and adjusted net income are defined as incomes using replacement cost, adjusted for special items and excluding Total’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger. They are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

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 disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as “proved and probable reserves” and “resources”, that the SEC’s 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 N° 1-10888, available from us at 2, place de la Coupole — La Défense 6 — 92078 Paris la Défense cedex — France. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Operating information by segment
Fourth quarter and full year 2007

l Upstream


						4Q07								2007
						vs			Combined liquids and gas					vs
4Q07		3Q07		4Q06		4Q06			production by region (kboe/d)	2007		2006		2006

	680		628		752		-10	%	Europe		674		728		-7	%
	834		811		729		+14	%	Africa		806		720		+12	%
	15		18		28		-46	%	North America		20		16		+25	%
	254		252		258		-2	%	Far East		252		253		—
	405		393		416		-3	%	Middle East		390		406		-4	%
	244		228		211		+16	%	South America		230		226		+2	%
	29		22		9		x3		Rest of world		19		7		x3
	2,461		2,352		2,403		+2	%	Total production		2,391		2,356		+2	%
	294		317		347		-15	%	Includes equity and non-consolidated affiliates		314		341		-8	%


						4Q07								2007
						vs								vs
4Q07		3Q07		4Q06		4Q06			Liquids production by region (kb/d)	2007		2006		2006

	337		313		371		-9	%	Europe		335		365		-8	%
	690		689		633		+9	%	Africa		681		628		+8	%
	10		11		17		-41	%	North America		14		7		x2
	27		29		28		-4	%	Far East		28		29		-3	%
	318		322		353		-10	%	Middle East		323		351		-8	%
	135		107		103		+31	%	South America		118		119		-1	%
	13		10		8		+63	%	Rest of world		10		7		+43	%
	1,530		1,481		1,513		+1	%	Total production		1,509		1,506		—
	245		262		286		-14	%	Includes equity and non-consolidated affiliates		263		288		-9	%

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com


4Q07		3Q07		4Q06		4Q07 vs 4Q06			Gas production by region (Mcfd)	2007		2006		2007 vs 2006

	1,871		1,710		2,073		-10	%	Europe		1,846		1,970		-6	%
	746		630		510		+46	%	Africa		640		486		+32	%
	25		32		55		-55	%	North America		34		50		-32	%
	1,409		1,251		1,417		-1	%	Far East		1,287		1,282		—
	484		384		334		+45	%	Middle East		368		292		+26	%
	602		669		598		+1	%	South America		618		592		+4	%
	86		65		2		x43		Rest of world		46		2		x23
	5,223		4,741		4,989		+5	%	Total production		4,839		4,674		+4	%
	271		289		326		-17	%	Includes equity and non-consolidated affiliates		281		285		-1	%

l Downstream


4Q07		3Q07		4Q06		4Q07 vs 4Q06			Refined products sales by region (kb/d)*	2007		2006		2007 vs 2006

	2,316		2,305		2,270		+2	%	Europe		2,278		2,275		—
	285		292		285		—		Africa		286		274		+4	%
	267		403		182		+47	%	Americas		272		284		-4	%
	153		148		129		+19	%	Rest of world		146		133		+10	%
	3,021		3,148		2,866		+5	%	Total consolidated sales		2,982		2,966		+1	%
	890		790		862		+3	%	Trading (balancing and export sales)		881		820		+7	%
	3,911		3,938		3,728		+5	%	Total refined product sales		3,863		3,786		+2	%


*		includes trading and share of Cepsa

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Adjustment items

l Adjustments to operating income from business segments


4Q07			3Q07		4Q06			in millions of euros	2007			2006

	(35	)		—		—		Special items affecting operating income from the business segments		(35	)		(177	)
	—			—		8		• Restructuring charges		—			(25	)
	(47	)		—		(11	)	• Impairments		(47	)		(61	)
	12			—		3		• Other		12			(91	)
	727			210		(389	)	Pre-tax inventory effect : FIFO vs. replacement cost		1,830			(314	)
	692			210		(389	)	Total adjustments affecting operating income from the business segments		1,795			(491	)

l Adjustments to net income (Group share)


4Q07			3Q07			4Q06			in millions of euros	2007			2006

	56			55			(18	)	Special items affecting net income (Group share)		11			(150	)
	—			75			(46	)	• Equity share of special items recorded by Sanofi-Aventis		75			(81	)
	306			—			174		• Gain on asset sales		306			304
	(15	)		(20	)		(15	)	• Restructuring charges		(35	)		(154	)
	(162	)		—			(8	)	• Impairments		(162	)		(40	)
	(73	)		—			(123	)	• Other		(173	)		(179	)
	(93	)		(77	)		(58	)	Adjustment related to the Sanofi-Aventis merger* (share of amortization of intangible assets)		(318	)		(309	)
	530			139			(436	)	After-tax inventory effect : FIFO vs. replacement cost		1,285			(358	)
	493			117			(512	)	Total adjustments to net income		978			(817	)


*		based on Total’s participation in Sanofi-Aventis of 13.06% at 12/31/2007, 13.22% at 9/30/2007 and 13.13% at 12/31/2006

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Net-debt-to equity ratio


in millions of euros	12/31/2007			9/30/2007			12/31/2006

Current borrowings		4,613			9,194			5,858
Net current financial assets		(1,204	)		(10,870	)		(3,833	)
Non-current financial debt		14,876			15,103			14,174
Hedging instruments of non-current debt		(460	)		(434	)		(486	)
Cash and cash equivalents		(5,988	)		(2,812	)		(2,493	)
Net debt		11,837			10,181			13,220
Shareholders equity		44,858			42,818			40,321
Estimated dividend payable*		(2,397	)		(906	)		(2,258	)
Minority interests		842			851			827
Equity		43,303			42,763			38,890
Net-debt-to-equity ratio		27.3	%		23.8	%		34.0	%


*		based on a 2007 dividend of 2.07 €/share of 2.5 € of par value, less the amount of the interim dividend of 2,248 M€ paid in November 2007

Effective tax rates


4Q07			3Q07			4Q06			Average tax rates*	2007			2006

	61.3	%		59.3	%		62.1	%	Upstream		60.2	%		61.4	%
	58.6	%		55.1	%		56.6	%	Group		55.6	%		55.7	%


*		tax on adjusted net operating income / (adjusted net operating income — income from affiliates, dividends received from investments, and impairments of acquisition goodwill + tax on adjusted net operating income)

2008 sensitivities*

Impact on operating

Impact on

Scenario

Change

income (e)

operating income (e)

€- $

1.50 $/€

+0.1 $per €

1.5 B€

0.8 B€

Brent

80 $/b

+1 $/b

0.28 B€/ 0.42 B$

0.12 B€/ 0.18 B$

European refining margins TRCV

33 $/t

+1 $/t

0.08 B€/ 0.12 B$

0.05 B€/ 0.08 B$


*		sensitivities revised once per year upon publication of the previous year fourth quarter results. The impact of the €-$ sensitivity on the operating income and the net operating income attributable to the Upstream segment are approximately 70% and 60% respectively, and the remaining impact of the €-$ sensitivity is essentially split between the Downstream and Chemicals segments.

TOTAL
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Tel. : 33 (1) 47 44 58 53
Fax : 33 (1) 47 44 58 24

Jérôme SCHMITT
Philippe HERGAUX
Sandrine SABOUREAU
Laurent KETTENMEYER

Robert HAMMOND (U.S.)
Tel. : (1) 201 626 3500
Fax : (1) 201 626 4004

TOTAL S.A
Capital 5 981 907 382 euros
542 051 180 R.C.S. Nanterre

www.total.com

Return on average capital employed

l For the twelve months ended December 31, 2007


in millions of euros	Upstream			Downstream			Chemicals**			Segments			Group

Adjusted net operating income		8,849			2,535			847			12,231			12,881
Capital employed at 12/31/2006*		25,543			12,384			6,920			44,847			52,263
Capital employed at 12/31/2007*		27,062			12,190			7,033			46,285			54,158
ROACE		33.6	%		20.6	%		12.1	%		26.8	%		24.2	%


*		at replacement cost (excluding after-tax inventory effect)

**		capital employed for Chemicals reduced for the Toulouse-AZF provision of 176 M€ pre-tax at 12/31/2006 and 134 M€ pre-tax at 12/31/2007

l For the twelve months ended September 30, 2007


in millions of euros	Upstream			Downstream			Chemicals**			Segments			Group***

Adjusted net operating income		8,165			2,538			1,015			11,718			12,434
Capital employed at 9/30/2006*		24,561			11,431			7,257			43,249			50,371
Capital employed at 9/30/2007*		26,863			11,446			7,305			45,614			53,243
ROACE		31.8	%		22.2	%		13.9	%		26.4	%		24.0	%


*		at replacement cost (excluding after-tax inventory effect)

**		capital employed for Chemicals reduced for the Toulouse-AZF provision of 85 M€ pre-tax at 9/30/2006 and 139 M€ pre-tax at 9/30/2007

***		capital employed for the Group restated to include debt to represent the dividend payable approved by the Board in September 2007 (2,252M€)

l For the twelve months ended December 31, 2006


in millions of euros	Upstream			Downstream			Chemicals**			Segments			Group

Adjusted net operating income		8,709			2,784			884			12,377			13,162
Capital employed at 12/31/2005*		23,522			11,421			6,885			41,828			49,341
Capital employed at 12/31/2006*		25,543			12,384			6,920			44,847			52,263
ROACE		35.5	%		23.4	%		12.8	%		28.6	%		25.9	%


*		at replacement cost (excluding after-tax inventory effect)

**		capital employed for Chemicals reduced for the Arkema capital employed of 2,235 M€ at 12/31/2005 and the Toulouse-AZF provision of 133 M€ pre-tax at 12/31/2005 and 176 M€ pre-tax at 12/31/2006


		Main indicators

Exhibit 99.10

Chart updated around the middle of the month following the end of each quarter


			European refining
	€/$		*margins TRCV ($/t)**		Brent ($/b)		Average liquids price ($/b)**		Average gas price ($/Mbtu)**

Fourth quarter 2007		1.45		30.1		88.5		84.5		6.08
Third quarter 2007		1.37		23.9		74.7		71.4		4.83
Second quarter 2007		1.35		42.8		68.8		65.7		4.94
First quarter 2007		1.31		33.0		57.8		55.0		5.69
Fourth quarter 2006		1.29		22.8		59.6		57.1		6.16
Third quarter 2006		1.27		28.7		69.5		65.4		5.59
Second quarter 2006		1.26		38.3		69.6		66.2		5.75
First quarter 2006		1.20		25.8		61.8		58.8		6.16
Fourth quarter 2005		1.19		45.5		56.9		54.5		5.68
Third quarter 2005		1.22		44.3		61.5		57.8		4.65
Second quarter 2005		1.26		45.0		51.6		48.0		4.39
First quarter 2005		1.31		31.7		47.6		44.1		4.40
Fourth quarter 2004		1.30		42.4		44.0		40.6		4.24
Third quarter 2004		1.22		32.9		41.5		39.5		3.54
Second quarter 2004		1.20		34.4		35.4		34.2		3.44
First quarter 2004		1.25		21.6		32.0		31.0		3.70
Fourth quarter 2003		1.19		18.9		29.4		28.4		3.46
Third quarter 2003		1.12		14.6		28.4		27.6		3.04
Second quarter 2003		1.14		17.6		26.0		25.0		3.19
First quarter 2003		1.07		32.3		31.5		30.8		3.39


*		1 $/t = 0.136 $/b

**		consolidated subsidiaries, excluding fixed margin and buy-back contracts

Disclaimer : these data are based on Total’s reporting and are not audited. They are subject to change.

CONSOLIDATED STATEMENT OF INCOME

TOTAL

(unaudited)


	4^th quarter			3^rd quarter			4^th quarter
(in millions of euros) ⁽¹⁾	2007			2007			2006

Sales		43,185			39,430			36,433
Excise taxes		(5,488	)		(5,479	)		(6,536	)
Revenues from sales		37,697			33,951			29,897

Purchases, net of inventory variation		(24,133	)		(22,580	)		(18,863	)
Other operating expenses		(4,563	)		(4,060	)		(4,613	)
Exploration costs		(273	)		(135	)		(214	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,450	)		(1,310	)		(1,313	)


Other income		395			123			400
Other expense		(240	)		(64	)		(299	)

Financial interest on debt		(451	)		(455	)		(471	)
Financial income from marketable securities and cash equivalents		289			324			375
Cost of net debt		(162	)		(131	)		(96	)

Other financial income		151			155			141
Other financial expense		(63	)		(70	)		(83	)
Income taxes		(4,008	)		(3,185	)		(3,001	)
Equity in income (loss) of affiliates		348			509			344

Consolidated net income from continuing operations (Group without Arkema)		3,699			3,203			2,300
Consolidated net income from discontinued operations (Arkema)		—			—			—

Consolidated net income		3,699			3,203			2,300

Group share *		3,600			3,121			2,225
Minority interests		99			82			75

Earnings per share (euros)		1.60			1.38			0.98

Fully-diluted earnings per share (euros) **		1.59			1.37			0.97


* Adjusted net income		3,107			3,004			2,737

** Adjusted fully-diluted earnings per share (euros)		1.37			1.32			1.20


(1)		Except for earnings per share.

CONSOLIDATED STATEMENT OF INCOME

TOTAL


(in millions of euros) ⁽¹⁾	Year 2007			Year 2006

Sales		158,752			153,802
Excise taxes		(21,928	)		(21,113	)
Revenues from sales		136,824			132,689

Purchases, net of inventory variation		(87,807	)		(83,334	)
Other operating expenses		(17,414	)		(19,536	)
Exploration costs		(877	)		(634	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(5,425	)		(5,055	)


Other income		674			789
Other expense		(470	)		(703	)

Financial interest on debt		(1,783	)		(1,731	)
Financial income from marketable securities and cash equivalents		1,244			1,367
Cost of net debt		(539	)		(364	)

Other financial income		643			592
Other financial expense		(274	)		(277	)
Income taxes		(13,575	)		(13,720	)
Equity in income (loss) of affiliates		1,775			1,693

Consolidated net income from continuing operations (Group without Arkema)		13,535			12,140
Consolidated net income from discontinued operations (Arkema)		—			(5	)

Consolidated net income		13,535			12,135

Group share *		13,181			11,768
Minority interests		354			367

Earnings per share (euros)		5.84			5.13

Fully-diluted earnings per share (euros) **		5.80			5.09


* Adjusted net income		12,203			12,585

** Adjusted fully-diluted earnings per share (euros)		5.37			5.44


(1)		Except for earnings per share.

CONSOLIDATED BALANCE SHEET

TOTAL


	December 31,			September 30,			December 31,
	2007			2007			2006
(in millions of euros)				(unaudited)

ASSETS

Non-current assets
Intangible assets, net		4,650			4,831			4,705
Property, plant and equipment, net		41,467			42,109			40,576
Equity affiliates: investments and loans		15,280			13,661			13,331
Other investments		1,291			1,343			1,250
Hedging instruments of non-current financial debt		460			434			486
Other non-current assets		2,155			1,756			2,088

Total non-current assets		65,303			64,134			62,436


Current assets
Inventories, net		13,851			12,580			11,746
Accounts receivable, net		19,129			18,200			17,393
Other current assets		8,006			7,142			7,247
Current financial assets		1,264			11,072			3,908
Cash and cash equivalents		5,988			2,812			2,493

Total current assets		48,238			51,806			42,787


Total assets		113,541			115,940			105,223

LIABILITIES & SHAREHOLDERS’ EQUITY

Shareholders’ equity
Common shares		5,989			5,987			6,064
Paid-in surplus and retained earnings		48,797			45,052			41,460
Currency translation adjustment		(4,396	)		(3,161	)		(1,383	)
Treasury shares		(5,532	)		(5,060	)		(5,820	)

Total shareholders’ equity — Group share		44,858			42,818			40,321


Minority interests		842			851			827

Total shareholders’ equity		45,700			43,669			41,148

Non-current liabilities
Deferred income taxes		7,933			7,555			7,139
Employee benefits		2,527			2,813			2,773
Other non-current liabilities		6,843			6,295			6,467


Total non-current liabilities		17,303			16,663			16,379

Non-current financial debt		14,876			15,103			14,174

Current liabilities
Accounts payable		18,183			14,841			15,080
Other creditors and accrued liabilities		12,806			16,268			12,509
Current borrowings		4,613			9,194			5,858
Other current financial liabilities		60			202			75

Total current liabilities		35,662			40,505			33,522

Total liabilities and shareholders’ equity		113,541			115,940			105,223

CONSOLIDATED STATEMENT OF CASH FLOWS

TOTAL

(unaudited)


	4^th quarter			3^rd quarter			4^th quarter
(in millions of euros)	2007			2007			2006

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income		3,699			3,203			2,300
Depreciation, depletion and amortization		1,608			1,405			1,210
Non-current liabilities, valuation allowances and deferred taxes		303			235			357
Impact of coverage of pension benefit plans		—			—			(142	)
(Gains) Losses on disposals of assets		(381	)		(117	)		(400	)
Undistributed affiliates’ equity earnings		(186	)		(306	)		(308	)
(Increase) Decrease in operating assets and liabilities		(960	)		(921	)		(942	)
Other changes, net		77			50			48

Cash flow from operating activities		4,160			3,549			2,123

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions		(3,459	)		(2,458	)		(3,041	)
Acquisitions of subsidiaries, net of cash acquired		—			—			(22	)
Investments in equity affiliates and other securities		(164	)		(40	)		(202	)
Increase in non-current loans		(405	)		(92	)		(391	)

Total expenditures		(4,028	)		(2,590	)		(3,656	)
Proceeds from disposal of intangible assets and property, plant and equipment		462			17			84
Proceeds from disposal of subsidiaries, net of cash sold		5			—			18
Proceeds from disposal of non-current investments		418			26			535
Repayment of non-current loans		96			66			434

Total divestments		981			109			1,071

Cash flow used in investing activies		(3,047	)		(2,481	)		(2,585	)

CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES

Issuance (Repayment) of shares:
- parent company’s shareholders		26			48			23
- treasury shares		(467	)		(491	)		(659	)
- minority shareholders		4			(2	)		2
Cash dividends paid to:
- parent company’s shareholders		(2,248	)		—			(1,977	)
- minority shareholders		(64	)		(2	)		(96	)
Net issuance (repayment) of non-current debt		486			321			1,915
Increase (Decrease) in current borrowings		(5,018	)		(143	)		(5,917	)
Increase (Decrease) in current financial assets and liabilities		9,749			(517	)		7,295
Other changes, net		—			—			—

Cash flow from / (used in) financing activities		2,468			(785	)		586

Net increase (decrease) in cash and cash equivalents		3,581			283			124
Effect of exchange rates and changes in the scope of consolidation		(405	)		(329	)		(206	)
Cash and cash equivalents at the beginning of the period		2,812			2,858			2,575

Cash and cash equivalents at the end of the period		5,988			2,812			2,493

CONSOLIDATED STATEMENT OF CASH FLOWS

TOTAL


	Year			Year
(in millions of euros)	2007			2006

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income		13,535			12,135
Depreciation, depletion and amortization		5,946			5,555
Non-current liabilities, valuation allowances and deferred taxes		826			601
Impact of coverage of pension benefit plans		—			(179	)
(Gains) Losses on disposals of assets		(639	)		(789	)
Undistributed affiliates’ equity earnings		(821	)		(952	)
(Increase) Decrease in operating assets and liabilities		(1,476	)		(441	)
Other changes, net		315			131

Cash flow from operating activities		17,686			16,061

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions		(10,549	)		(9,910	)
Acquisitions of subsidiaries, net of cash acquired		(20	)		(127	)
Investments in equity affiliates and other securities		(351	)		(402	)
Increase in non-current loans		(802	)		(1,413	)

Total expenditures		(11,722	)		(11,852	)
Proceeds from disposal of intangible assets and property, plant and equipment		569			413
Proceeds from disposal of subsidiaries, net of cash sold		5			18
Proceeds from disposal of non-current investments		527			699
Repayment of non-current loans		455			1,148

Total divestments		1,556			2,278

Cash flow used in investing activies		(10,166	)		(9,574	)

CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES

Issuance (Repayment) of shares:
- parent company’s shareholders		89			511
- treasury shares		(1,526	)		(3,830	)
- minority shareholders		2			17
Cash dividends paid to:
- parent company’s shareholders		(4,510	)		(3,999	)
- minority shareholders		(228	)		(326	)
Net issuance (repayment) of non-current debt		3,220			3,722
Increase (Decrease) in current borrowings		(2,654	)		(6	)
Increase (Decrease) in current financial assets and liabilities		2,265			(3,496	)
Other changes, net		—			—

Cash flow from / (used in) financing activities		(3,342	)		(7,407	)

Net increase (decrease) in cash and cash equivalents		4,178			(920	)
Effect of exchange rates and changes in the scope of consolidation		(683	)		(905	)
Cash and cash equivalents at the beginning of the period		2,493			4,318

Cash and cash equivalents at the end of the period		5,988			2,493

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

TOTAL


							Paid-in
							surplus and			Currency
	Common shares issued						retained			translation			Treasury shares						Shareholders’			Minority			Total
(in millions of euros)	Number			Amount			earnings			adjustment			Number			Amount			equity			interests			equity

As of January 1, 2006		615,116,296			6,151			37,504			1,421			(34,249,332	)		(4,431	)		40,645			838			41,483

Net income 2006		—			—			11,768			—			—			—			11,768			367			12,135
Items recognized directly in equity		—			—			(37	)		(2,595	)		—			—			(2,632	)		(44	)		(2,676	)
Total excluding transactions with shareholders		—			—			11,731			(2,595	)		—			—			9,136			323			9,459
Four-for-one split of shares par value		1,845,348,888			—			—			—			(102,747,996	)		—			—			—			—
Spin-off of Arkema		—			—			(2,061	)		(209	)		—			16			(2,254	)		(8	)		(2,262	)
Dividend paid		—			—			(3,999	)		—			—			—			(3,999	)		(326	)		(4,325	)
Issuance of common shares		12,322,769			30			469			—			—			—			499			—			499
Purchase of treasury shares		—			—			—			—			(78,220,684	)		(4,095	)		(4,095	)		—			(4,095	)
Sale of treasury shares ⁽¹⁾		—			—			—			—			6,997,305			232			232			—			232
Share-based payments		—			—			157			—			—			—			157			—			157
Transactions with shareholders		1,857,671,657			30			(5,434	)		(209	)		(173,971,375	)		(3,847	)		(9,460	)		(334	)		(9,794	)
Share cancellation		(47,020,000	)		(117	)		(2,341	)		—			47,020,000			2,458			—			—			—
As of December 31, 2006		2,425,767,953			6,064			41,460			(1,383	)		(161,200,707	)		(5,820	)		40,321			827			41,148

Net income 2007		—			—			13,181			—			—			—			13,181			354			13,535
Items recognized directly in equity		—			—			117			(3,013	)		—			—			(2,896	)		(111	)		(3,007	)
Total excluding transactions with shareholders		—			—			13,298			(3,013	)		—			—			10,285			243			10,528
Dividend paid		—			—			(4,510	)		—			—			—			(4,510	)		(228	)		(4,738	)
Issuance of common shares		2,769,144			7			82			—			—			—			89			—			89
Purchase of treasury shares		—			—			—			—			(32,387,355	)		(1,787	)		(1,787	)		—			(1,787	)
Sale of treasury shares ⁽¹⁾		—			—			(77	)		—			9,161,830			341			264			—			264
Share-based payments		—			—			196			—			—			—			196			—			196
Transactions with shareholders		2,769,144			7			(4,309	)		—			(23,225,525	)		(1,446	)		(5,748	)		(228	)		(5,976	)
Share cancellation		(33,005,000	)		(82	)		(1,652	)		—			33,005,000			1,734			—			—			—
As of December 31, 2007		2,395,532,097			5,989			48,797			(4,396	)		(151,421,232	)		(5,532	)		44,858			842			45,700

⁽¹⁾

Treasury shares related to the stock option purchase plans and restricted stock grants

BUSINESS SEGMENT INFORMATION

TOTAL


4^th quarter 2007
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,873			32,419			4,884			9			—			43,185
Intersegment sales		5,904			1,557			363			56			(7,880	)		—
Excise taxes		—			(5,488	)		—			—			—			(5,488	)

Revenues from sales		11,777			28,488			5,247			65			(7,880	)		37,697
Operating expenses		(4,980	)		(26,816	)		(4,883	)		(170	)		7,880			(28,969	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(970	)		(342	)		(128	)		(10	)		—			(1,450	)

Operating income		5,827			1,330			236			(115	)		—			7,278
Equity in income (loss) of affiliates and other items		354			82			(54	)		209			—			591
Tax on net operating income		(3,624	)		(419	)		(55	)		33			—			(4,065	)

Net operating income		2,557			993			127			127			—			3,804
Net cost of net debt																	(105	)
Minority interests																	(99	)

Net income from continuing operations																	3,600
Net income from discontinued operations																	—

Net income																	3,600


4^th quarter 2007 (adjustments) (*)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		(11	)		629			121			—				739
Depreciation, depletion and amortization of tangible assets and mineral interests		—			(43	)		(4	)		—				(47	)

Operating income ⁽¹⁾		(11	)		586			117			—				692
Equity in income (loss) of affiliates and other items ⁽²⁾		(4	)		34			(53	)		25				2
Tax on net operating income		3			(173	)		(24	)		(2	)			(196	)

Net operating income ⁽¹⁾		(12	)		447			40			23				498
Net cost of net debt															—
Minority interests															(5	)

Net income from continuing operations															493
Net income from discontinued operations															—

Net income															493


(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	578	149	—
On net operating income	—	434	101	—
(2) Of which equity share of amortization of intangible assets
related to the Sanofi-Aventis merger.	—	—	—	(93	)


4^th quarter 2007 (adjusted)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,873			32,419			4,884			9			—			43,185
Intersegment sales		5,904			1,557			363			56			(7,880	)		—
Excise taxes		—			(5,488	)		—			—			—			(5,488	)

Revenues from sales		11,777			28,488			5,247			65			(7,880	)		37,697
Operating expenses		(4,969	)		(27,445	)		(5,004	)		(170	)		7,880			(29,708	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(970	)		(299	)		(124	)		(10	)		—			(1,403	)

Adjusted operating income		5,838			744			119			(115	)		—			6,586
Equity in income (loss) of affiliates and other items		358			48			(1	)		184			—			589
Tax on net operating income		(3,627	)		(246	)		(31	)		35			—			(3,869	)

Adjusted net operating income		2,569			546			87			104			—			3,306
Net cost of net debt																	(105	)
Minority interests																	(94	)

Adjusted net income from continuing operations																	3,107
Adjusted net income from discontinued operations																	—

Ajusted net income																	3,107


4^th quarter 2007
(in millions of euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		2,803		849		365		11				4,028
Divestments at sale price		324		317		20		320				981
Cash flow from operating activities		3,348		372		518		(78	)			4,160

BUSINESS SEGMENT INFORMATION

TOTAL


3^rd quarter 2007
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,143			30,430			4,856			1			—			39,430
Intersegment sales		5,453			1,124			326			58			(6,961	)		—
Excise taxes		—			(5,479	)		—			—			—			(5,479	)

Revenues from sales		9,596			26,075			5,182			59			(6,961	)		33,951
Operating expenses		(3,845	)		(25,000	)		(4,726	)		(165	)		6,961			(26,775	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(890	)		(288	)		(124	)		(8	)		—			(1,310	)

Operating income		4,861			787			332			(114	)		—			5,866
Equity in income (loss) of affiliates and other items		309			76			6			262			—			653
Tax on net operating income		(2,943	)		(207	)		(100	)		12			—			(3,238	)

Net operating income		2,227			656			238			160			—			3,281
Net cost of net debt																	(78	)
Minority interests																	(82	)

Net income from continuing operations																	3,121
Net income from discontinued operations																	—

Net income																	3,121


3^rd quarter 2007 (adjustments) (*)
(in millions of euros)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		221			(11	)		—				210
Depreciation, depletion and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income ⁽¹⁾		—		221			(11	)		—				210
Equity in income (loss) of affiliates and other items ⁽²⁾		—		(34	)		(1	)		(2	)			(37	)
Tax on net operating income		—		(57	)		3			—				(54	)

Net operating income⁽¹⁾		—		130			(9	)		(2	)			119
Net cost of net debt														—
Minority interests														(2	)

Net income from continuing operations														117
Net income from discontinued operations														—

Net income														117


(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	221	(11	)	—
On net operating income	—	150	(9	)	—
(2) Of which equity share of amortization of intangible assets
related to the Sanofi-Aventis merger.	—	—	—		(77	)


3^rd quarter 2007 (adjusted)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,143			30,430			4,856			1			—			39,430
Intersegment sales		5,453			1,124			326			58			(6,961	)		—
Excise taxes		—			(5,479	)		—			—			—			(5,479	)

Revenues from sales		9,596			26,075			5,182			59			(6,961	)		33,951
Operating expenses		(3,845	)		(25,221	)		(4,715	)		(165	)		6,961			(26,985	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(890	)		(288	)		(124	)		(8	)		—			(1,310	)

Operating income		4,861			566			343			(114	)		—			5,656
Equity in income (loss) of affiliates and other items		309			110			7			264			—			690
Tax on net operating income		(2,943	)		(150	)		(103	)		12			—			(3,184	)

Net operating income		2,227			526			247			162			—			3,162
Net cost of net debt																	(78	)
Minority interests																	(80	)

Adjusted net income from continuing operations																	3,004
Adjusted net income from discontinued operations																	—

Ajusted net income																	3,004


3^rd quarter 2007
(in millions of euros)	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total

Total expenditures		1,981		381		200		28			2,590
Divestments at sale price		63		27		15		4			109
Cash flow from operating activities		1,697		439		217		1,196			3,549

BUSINESS SEGMENT INFORMATION

TOTAL


4^th quarter 2006
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,960			26,861			4,610			2			—			36,433
Intersegment sales		4,982			1,044			212			50			(6,288	)		—
Excise taxes		—			(6,536	)		—			—			—			(6,536	)

Revenues from sales		9,942			21,369			4,822			52			(6,288	)		29,897
Operating expenses		(4,746	)		(20,592	)		(4,425	)		(215	)		6,288			(23,690	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(866	)		(305	)		(134	)		(8	)		—			(1,313	)

Operating income		4,330			472			263			(171	)		—			4,894
Equity in income (loss) of affiliates and other items		324			151			(177	)		205			—			503
Tax on net operating income		(2,769	)		(264	)		(38	)		14			—			(3,057	)

Net operating income		1,885			359			48			48			—			2,340
Net cost of net debt																	(40	)
Minority interests																	(75	)

Net income from continuing operations																	2,225
Net income from discontinued operations																	—

Net income																	2,225


4^th quarter 2006 (adjustments) (*)
(in millions of euros)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		(278	)		(100	)		(7	)			(385	)
Depreciation, depletion and amortization of tangible assets and mineral interests		—		—			(11	)		—				(11	)

Operating income ⁽¹⁾		—		(278	)		(111	)		(7	)			(396	)
Equity in income (loss) of affiliates and other items ⁽²⁾		—		155			(178	)		(104	)			(127	)
Tax on net operating income		—		(67	)		82			(11	)			4

Net operating income ⁽¹⁾		—		(190	)		(207	)		(122	)			(519	)
Net cost of net debt														—
Minority interests														7

Net income from continuing operations														(512	)
Net income from discontinued operations														—
Net income														(512	)


(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	(278	)	(111	)	—
On net operating income	—	(364	)	(77	)	—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger.	—	—		—		(58	)


4^th quarter 2006 (adjusted)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,960			26,861			4,610			2			—			36,433
Intersegment sales		4,982			1,044			212			50			(6,288	)		—
Excise taxes		—			(6,536	)		—			—			—			(6,536	)

Revenues from sales		9,942			21,369			4,822			52			(6,288	)		29,897
Operating expenses		(4,746	)		(20,314	)		(4,325	)		(208	)		6,288			(23,305	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(866	)		(305	)		(123	)		(8	)		—			(1,302	)

Adjusted operating income		4,330			750			374			(164	)		—			5,290
Equity in income (loss) of affiliates and other items		324			(4	)		1			309			—			630
Tax on net operating income		(2,769	)		(197	)		(120	)		25			—			(3,061	)

Adjusted net operating income		1,885			549			255			170			—			2,859
Net cost of net debt																	(40	)
Minority interests																	(82	)

Adjusted net income from continuing operations																	2,737
Adjusted net income from discontinued operations																	—

Ajusted net income																	2,737


4^th quarter 2006
(in millions of euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		2,638		703		293		22				3,656
Divestments at sale price		523		275		29		244				1,071
Cash flow from operating activities		1,788		261		725		(651	)			2,123

BUSINESS SEGMENT INFORMATION

TOTAL


Year 2007
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		19,706			119,212			19,805			29			—			158,752
Intersegment sales		21,173			5,125			1,190			181			(27,669	)		—
Excise taxes		—			(21,928	)		—			—			—			(21,928	)

Revenues from sales		40,879			102,409			20,995			210			(27,669	)		136,824
Operating expenses		(17,697	)		(96,367	)		(19,076	)		(627	)		27,669			(106,098	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(3,679	)		(1,218	)		(495	)		(33	)		—			(5,425	)

Operating income		19,503			4,824			1,424			(450	)		—			25,301
Equity in income (loss) of affiliates and other items		1,330			284			(11	)		745			—			2,348
Tax on net operating income		(11,996	)		(1,482	)		(426	)		128			—			(13,776	)

Net operating income		8,837			3,626			987			423			—			13,873
Net cost of net debt																	(338	)
Minority interests																	(354	)

Net income from continuing operations																	13,181
Net income from discontinued operations																	—

Net income																	13,181


*Year 2007 (adjustments) ()**
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		(11	)		1,580			273			—				1,842
Depreciation, depletion and amortization of tangible assets and mineral interests		—			(43	)		(4	)		—				(47	)

Operating income ⁽¹⁾		(11	)		1,537			269			—				1,795
Equity in income (loss) of affiliates and other items ⁽²⁾		(4	)		24			(54	)		(225	)			(259	)
Tax on net operating income		3			(470	)		(75	)		(2	)			(544	)

Net operating income ⁽¹⁾		(12	)		1,091			140			(227	)			992
Net cost of net debt															—
Minority interests															(14	)

Net income from continuing operations															978
Net income from discontinued operations															—

Net income															978


(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	1,529	301	—
On net operating income	—	1,098	201	—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger.	—	—	—	(318	)


Year 2007 (adjusted)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		19,706			119,212			19,805			29			—			158,752
Intersegment sales		21,173			5,125			1,190			181			(27,669	)		—
Excise taxes		—			(21,928	)		—			—			—			(21,928	)

Revenues from sales		40,879			102,409			20,995			210			(27,669	)		136,824
Operating expenses		(17,686	)		(97,947	)		(19,349	)		(627	)		27,669			(107,940	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(3,679	)		(1,175	)		(491	)		(33	)		—			(5,378	)

Adjusted operating income		19,514			3,287			1,155			(450	)		—			23,506
Equity in income (loss) of affiliates and other items		1,334			260			43			970			—			2,607
Tax on net operating income		(11,999	)		(1,012	)		(351	)		130			—			(13,232	)

Adjusted net operating income		8,849			2,535			847			650			—			12,881
Net cost of net debt																	(338	)
Minority interests																	(340	)

Adjusted net income from continuing operations																	12,203
Adjusted net income from discontinued operations																	—

Ajusted net income																	12,203


Year 2007
(in millions of euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		8,882		1,875		911		54				11,722
Divestments at sale price		751		394		83		328				1,556
Cash flow from operating activities		12,692		4,148		1,096		(250	)			17,686

BUSINESS SEGMENT INFORMATION

TOTAL


Year 2006
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		20,782			113,887			19,113			20			—			153,802
Intersegment sales		20,603			4,927			1,169			177			(26,876	)		—
Excise taxes		—			(21,113	)		—			—			—			(21,113	)

Revenues from sales		41,385			97,701			20,282			197			(26,876	)		132,689
Operating expenses		(17,759	)		(93,209	)		(18,706	)		(706	)		26,876			(103,504	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(3,319	)		(1,120	)		(580	)		(36	)		—			(5,055	)

Operating income		20,307			3,372			996			(545	)		—			24,130
Equity in income (loss) of affiliates and other items		1,211			384			(298	)		797			—			2,094
Tax on net operating income		(12,764	)		(1,125	)		(191	)		206			—			(13,874	)

Net operating income		8,754			2,631			507			458			—			12,350
Net cost of net debt																	(210	)
Minority interests																	(367	)

Net income from continuing operations																	11,773
Net income from discontinued operations																	(5	)

Net income																	11,768


*Year 2006 (adjustments) ()**
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—			(272	)		(158	)		(27	)			(457	)
Depreciation, depletion and amortization of tangible assets and mineral interests		—			—			(61	)		—				(61	)

Operating income ⁽¹⁾		—			(272	)		(219	)		(27	)			(518	)
Equity in income (loss) of affiliates and other items ⁽²⁾		195			178			(327	)		(295	)			(249	)
Tax on net operating income		(150	)		(59	)		169			(5	)			(45	)

Net operating income ⁽¹⁾		45			(153	)		(377	)		(327	)			(812	)
Net cost of net debt															—
Minority interests															14

Net income from continuing operations															(798	)
Net income from discontinued operations															(19	)

Net income															(817	)


(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	(272	)	(42	)	—
On net operating income	—	(327	)	(28	)	—
(2) Of which equity share of amortization of intangible assets
related to the Sanofi-Aventis merger.	—	—		—		(311	)


Year 2006 (adjusted)
(in millions of euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		20,782			113,887			19,113			20			—			153,802
Intersegment sales		20,603			4,927			1,169			177			(26,876	)		—
Excise taxes		—			(21,113	)		—			—			—			(21,113	)

Revenues from sales		41,385			97,701			20,282			197			(26,876	)		132,689
Operating expenses		(17,759	)		(92,937	)		(18,548	)		(679	)		26,876			(103,047	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(3,319	)		(1,120	)		(519	)		(36	)		—			(4,994	)

Adjusted operating income		20,307			3,644			1,215			(518	)		—			24,648
Equity in income (loss) of affiliates and other items		1,016			206			29			1,092			—			2,343
Tax on net operating income		(12,614	)		(1,066	)		(360	)		211			—			(13,829	)

Adjusted net operating income		8,709			2,784			884			785			—			13,162
Net cost of net debt																	(210	)
Minority interests																	(381	)

Adjusted net income from continuing operations																	12,571
Adjusted net income from discontinued operations																	14

Ajusted net income																	12,585


Year 2006
(in millions of euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		9,001		1,775		995		81				11,852
Divestments at sale price		1,458		428		128		264				2,278
Cash flow from operating activities		11,524		3,626		972		(61	)			16,061

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)

TOTAL


Year 2007							Consolidated
(in millions of euros)	Ajusted			Adjustments			statement of income

Sales		158,752			—			158,752
Excise taxes		(21,928	)		—			(21,928	)
Revenues from sales		136,824			—			136,824

Purchases, net of inventory variation		(89,688	)		1,881			(87,807	)
Other operating expenses		(17,375	)		(39	)		(17,414	)
Exploration costs		(877	)		—			(877	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(5,378	)		(47	)		(5,425	)

Other income		384			290			674
Other expense		(225	)		(245	)		(470	)

Financial interest on debt		(1,783	)		—			(1,783	)
Financial income from marketable securities and cash equivalents		1,244			—			1,244
Cost of net debt		(539	)		—			(539	)

Other financial income		643			—			643
Other financial expense		(274	)		—			(274	)
Income taxes		(13,031	)		(544	)		(13,575	)
Equity in income (loss) of affiliates		2,079			(304	)		1,775

Consolidated net income from continuing operations		12,543			992			13,535
Consolidated net income from discontinued operations		—			—			—

Consolidated net income		12,543			992			13,535
Group share		12,203			978			13,181
Minority interests		340			14			354


4^th quarter 2007							Consolidated
(in millions of euros)	Ajusted			Adjustments			statement of income

Sales		43,185			—			43,185
Excise taxes		(5,488	)		—			(5,488	)
Revenues from sales		37,697			—			37,697
Purchases, net of inventory variation		(24,911	)		778			(24,133	)
Other operating expenses		(4,524	)		(39	)		(4,563	)
Exploration costs		(273	)		—			(273	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,403	)		(47	)		(1,450	)

Other income		105			290			395
Other expense		(125	)		(115	)		(240	)

Financial interest on debt		(451	)		—			(451	)
Financial income from marketable securities and cash equivalents		289			—			289
Cost of net debt		(162	)		—			(162	)

Other financial income		151			—			151
Other financial expense		(63	)		—			(63	)
Income taxes		(3,812	)		(196	)		(4,008	)
Equity in income (loss) of affiliates		521			(173	)		348

Consolidated net income from continuing operations		3,201			498			3,699
Consolidated net income from discontinued operations		—			—			—

Consolidated net income		3,201			498			3,699
Group share		3,107			493			3,600
Minority interests		94			5			99

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)

TOTAL


Year 2006							Consolidated
(in millions of euros)	Ajusted			Adjustments			statement of income

Sales		153,802			—			153,802
Excise taxes		(21,113	)		—			(21,113	)
Revenues from sales		132,689			—			132,689

Purchases, net of inventory variation		(83,020	)		(314	)		(83,334	)
Other operating expenses		(19,393	)		(143	)		(19,536	)
Exploration costs		(634	)		—			(634	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(4,994	)		(61	)		(5,055	)

Other income		423			366			789
Other expense		(330	)		(373	)		(703	)

Financial interest on debt		(1,731	)		—			(1,731	)
Financial income from marketable securities and cash equivalents		1,367			—			1,367
Cost of net debt		(364	)		—			(364	)

Other financial income		592			—			592
Other financial expense		(277	)		—			(277	)
Income taxes		(13,675	)		(45	)		(13,720	)
Equity in income (loss) of affiliates		1,935			(242	)		1,693

Consolidated net income from continuing operations		12,952			(812	)		12,140
Consolidated net income from discontinued operations		14			(19	)		(5	)

Consolidated net income		12,966			(831	)		12,135
Group share		12,585			(817	)		11,768
Minority interests		381			(14	)		367


4^th quarter 2006							Consolidated
(in millions of euros)	Ajusted			Adjustments			statement of income

Sales		36,433			—			36,433
Excise taxes		(6,536	)		—			(6,536	)
Revenues from sales		29,897			—			29,897
Purchases, net of inventory variation		(18,474	)		(389	)		(18,863	)
Other operating expenses		(4,617	)		4			(4,613	)
Exploration costs		(214	)		—			(214	)
Depreciation, depletion and amortization of tangible assets and mineral interests		(1,302	)		(11	)		(1,313	)

Other income		229			171			400
Other expense		(128	)		(171	)		(299	)

Financial interest on debt		(471	)		—			(471	)
Financial income from marketable securities and cash equivalents		375			—			375
Cost of net debt		(96	)		—			(96	)

Other financial income		141			—			141
Other financial expense		(83	)		—			(83	)
Income taxes		(3,005	)		4			(3,001	)
Equity in income (loss) of affiliates		471			(127	)		344

Consolidated net income from continuing operations		2,819			(519	)		2,300
Consolidated net income from discontinued operations		—			—			—

Consolidated net income		2,819			(519	)		2,300
Group share		2,737			(512	)		2,225
Minority interests		82			(7	)		75

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