form6vk

-----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, Cz/wUOwiVdZCZa/YXi8NvK44fR9YMRcthC01umGxC6O+EqAUk84kIX1/PfA5NmEO 3M+HH4myo9d5AOLQyYHcwQ== 0001419783-08-000069.txt : 20081128 0001419783-08-000069.hdr.sgml : 20081127 20081128115653 ACCESSION NUMBER: 0001419783-08-000069 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20081128 FILED AS OF DATE: 20081128 DATE AS OF CHANGE: 20081128 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: 081219918 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 u02053form6vk.htm 6-K form6vk

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: November 2008

Commission File Number: 1-10888

TOTAL S.A.

(Translation of registrant’s name into English)

2 place Jean Millier
92078 Courbevoie La Défense 6
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): o

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): o

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: Total Becomes Shareholder in CERFACS
EX 99.2: Development of Downhole Sulphur Removal Technology
EX 99.3: Launch of OML 58 Upgrade Project, Nigeria
EX 99.4: New Offshore Gas and Condensate Discovery, Brunei
EX 99.5: Interests on Blocks OPL 279 and 285, Nigeria
EX 99.6: 3rd Quarter 2008 Results of Total
EX 99.7: 3rd Quarter 2008 Results of Total Gabon
EX 99.8: New French SME in China
EX 99.9: Exploration and New Development, Thailand

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: November 28, 2008	By:	/s/ Charles Paris de Bollardière
		Name : Charles PARIS de BOLLARDIERE
		Title : Treasurer

EXHIBIT INDEX


Ø	EXHIBIT 99.1:	Total Becomes a Shareholder in the Centre Européen de Recherche et Formation Avancée en Calcul Scientifique (CERFACS) (October 22, 2008).

Ø	EXHIBIT 99.2:	Total announces development of Downhole Sulphur Removal technology (October 28, 2008).

Ø	EXHIBIT 99.3:	Nigeria: Launch of OML 58 Upgrade Project (October 30, 2008).

Ø	EXHIBIT 99.4:	Total Announces New Offshore Gas and Condensate Discovery in Brunei (November 3, 2008).

Ø	EXHIBIT 99.5:	Acquisition of Interests on blocks OPL 279 and 285 in deep offshore Nigeria (November 4, 2008).

Ø	EXHIBIT 99.6:	Third Quarter 2008 Results (November 5, 2008).

Ø	EXHIBIT 99.7:	Total Gabon: Third Quarter 2008 Financial Results (November 13, 2008).

Ø	EXHIBIT 99.8:	Total Serves the Development of a New French SME in China through Its Local Business Support Program (November 14, 2008).

Ø	EXHIBIT 99.9:	Exploration Success & New Development in Thailand (November 14, 2008).

EX-99.1 2 u02053exhibit99w1.htm EX 99.1: TOTAL BECOMES SHAREHOLDER IN CERFACS exhibit99w1

EXHIBIT 99.1

News Release

Communiqué de Pressee

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total becomes a shareholder in the Centre Européen de Recherche et
Formation Avancée en Calcul Scientifique (CERFACS)

Paris, October 22, 2008 - Total has acquired an equity interest in the Centre Européen de Recherche et Formation Avancée en Calcul Scientifique (CERFACS), a private-sector scientific computation research center based in Toulouse, France. The Center is delighted to welcome the Group alongside its six other shareholders, which are the French National Space Agency (CNES), aerospace company EADS, Electricité de France, the French national weather service, aerospace lab ONERA and aircraft engine manufacturer SAFRAN.

Total has joined this center of excellence in order to deploy its R&D strategy in digital simulation and data-intensive computing technologies. This process will be supported by CERFACS’ world renowned, multidisciplinary team of around one hundred physicists, applied mathematicians, numerical analysts and software engineers.¹ In this way, the investment has further strengthened Total’s position as a global leader in scientific computing power. This new advance is perfectly aligned with the group’s recent purchase of a high-performance supercomputer, installed at the Scientific and Technical Center in Pau.

Like the other CERFACS’ shareholders, Total has to meet the challenge of preparing for the arrival of the next generation of supercomputers, capable of sustaining multiple petaflops.² Digital simulation systems help to optimize the speed of knowledge acquisition by processing experimental data faster and more efficiently. This opens the way to increasing the number of experiments, so that the most promising ones can be more easily identified.

Digital simulation plays a critically important role in all of Total’s businesses, especially in R&D. In the Upstream segment, it is used in geoscientific computation, particularly to process seismic imaging data sets and to digitally


¹		CERFACS has focused its cross-functional research programs on massively parallel algorithms, data assimilation, model coupling and their corresponding applications in such areas as fluid dynamics, combustion, climate and the environment, electromagnetism and the earth sciences.

²		Flops (floating point operations per second) is a measure of computing speed. A petaflops represents a quadrillion (10¹⁵) flops, requiring around 500,000 high-performance processors.

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

visualize oil and gas reservoirs to enhance their definition. In the Downstream, it is used to optimize process units and utilities, such as furnace combustion, while in the specialty chemicals business, it expands and improves the understanding of how new elastomers and composites will behave.

*******

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas & power and trading. 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 u02053exhibit99w2.htm EX 99.2: DEVELOPMENT OF DOWNHOLE SULPHUR REMOVAL TECHNOLOGY exhibit99w2

EXHIBIT 99.2

News Release

Communiqué de Pressee

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total announces development of Downhole Sulphur Removal
technology

Paris, October 28, 2008 - Total announced today its recent success in the development of a downhole regenerable sulphur removal and recovery process called “DSR” (Downhole Sulphur Recovery) with CrystaTech, a clean energy technology development company headquartered in Austin, Texas.

Under a technology development and commercialization agreement between Total and CrystaTech, the companies are working to develop a regenerable process for the continuous removal and recovery of sulphur depositions in sour gas well bores. CrystaTech is modifying its patented CrystaSulf^® hydrogen sulphide removal process to develop the new technology for this downhole application. The new DSR technology relies on the use of physical solvents that absorb and carry the sulphur out of the well bore.

Total is fully involved in all aspects of the technology development effort, and has decided to move to the pilot unit demonstration phase of the project.

Total plans to use the regenerable technology for the production of very large sour gas reserves, which provides excellent economic and environmental benefits. Existing technologies require producers to either shut-in gas production while injecting disposable solvents to clear blocked well bores, or inject non-regenerable solvents on a continuous basis or use chemical regeneration processes.

Total Research and Development

Total’s Research and Development constantly seeks to innovate in all processes that are linked to energy. Research is centered around four areas: knowledge of energies to optimize their development, reliability and energy efficiency of operations, product competitiveness and mastering environmental challenges. In 2008 Total will invest one billion dollars in Research and Development, and there are more than 4,000 researchers working in 22 research centres worldwide. Total has also created over 600 partnerships with research organizations, universities and large industrial groups.

*******

EX-99.3 4 u02053exhibit99w3.htm EX 99.3: LAUNCH OF OML 58 UPGRADE PROJECT, NIGERIA exhibit99w3

EXHIBIT 99.3

News Release

Communiqué de Pressee

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Nigeria: Launch of OML 58 Upgrade Project

Paris, October 30, 2008 - Total announces that its subsidiary Total E&P Nigeria Limited (TEPNG), operator of the NNPC/TEPNG joint venture with a 40% interest, has launched the OML 58 upgrade project. Nigerian National Petroleum Corporation (NNPC) owns the remaining 60% interest of the joint venture. OML 58 is located onshore Nigeria (Rivers States), approximately 85 kilometres North West of Port Harcourt in the Niger Delta.

The OML 58 Obite gas treatment plant has been on stream since December 1999. The OML 58 upgrade is designed to increase gas production capacity from 10.6 million cubic metres per day (370 mmscfd) at present to 15.6 million cubic metres per day (550 mmscfd), and also increase oil and condensate output by around 15,000 barrels per day bringing the total output to 140,000 barrels of oil equivalent per day.

This project is expected to increase production as from 2011, and will comply with the Federal Government’s “Flare Out” regulations, improve safety and extend the life of existing installations as well as enhancing oil recovery.

It will develop more than 280 million barrels of oil equivalent of proved and probable reserves. A second stage of the project is under evaluation in order to develop additional proved and probable reserves (about 230 Mboe) using these upgraded facilities.

The objective of the project is to contribute to meet the growth of domestic demand for gas in Nigeria in line with the Federal Government of Nigeria expectations, as well as to supply gas to Nigeria LNG.

In line with Total’s commitments, the upgrade project will contribute significantly to Nigeria’s local content policy — over 90% of the total man hours worked on the project will be performed locally.

OML58 upgrade project is situated in an area where the NNPC/TEPNG joint venture has already started using associated gas to provide continuous electricity to about 19 communities since 2005. The project will permit Total to reinforce its sustainable development policy towards local initiative programmes.

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total E&P Nigeria

Total has been operating in Nigeria for more than 50 years. Developing the country’s deep offshore resources is one of the Group’s main growth drivers in Africa, with, in particular the deep offshore Akpo field in OML 130, which it operates. Akpo is scheduled to come on stream early 2009. Development studies are under way for the Egina discovery, also located in OML 130. Additionally the development of the offshore Usan field was launched early 2008 and should come on stream in 2011.

Total’s offshore operated production in Nigeria currently comes from the OML 99, 100 and 102 blocks as part of a joint venture with NNPC. The main fields are Amenam-Kpono, Ofon and Odudu area fields.

The Group’s onshore production comes from the OML 58 block, also operated by Total as part of the joint venture with NNPC. The main fields here are Obagi, for oil, and Ibewa, for gas.

In addition, Total has significant equity production in Nigeria from its interests in non-operated ventures, particularly the SPDC joint venture (10%) and SNEPCO (12.5%), which includes the Bonga field. Total also holds a 15% interest in NLNG, where annual LNG production capacity has risen to 21.9 million metric tons since Train 6 was brought on stream end 2007.

Total is committed to promoting local content in its activities, following the example of the Usan project, where approximately 60% of the man hours planned will be performed in Nigeria. The Group continues to develop the expertise of Nigerian companies in deep offshore project-related work. This is particularly the case in the Niger Delta region, from which more than half of Total’s Nigerian employees come and where the majority of the Group’s operations in the country are located.

Total, one of the largest oil majors in Africa, is active in terms of production in Algeria, Libya, Nigeria, Angola, the Republic of Congo, Gabon and Cameroon.

*******

EX-99.4 5 u02053exhibit99w4.htm EX 99.4: NEW OFFSHORE GAS AND CONDENSATE DISCOVERY, BRUNEI exhibit99w4

EXHIBIT 99.4

News Release

Communiqué de Pressee

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Announces New Offshore Gas and Condensate
Discovery in Brunei

Paris, November 3 : Total announces a significant gas and condensate discovery in Block B offshore Brunei, in a water depth of 62 metres, around 50 kilometres from the coast.

Total operates the block with a 37.5% interest, in association with Shell Deepwater Borneo Ltd. (35%) and local partners (27.5%).

Drilled to a final depth of 5,227 metres, the ML-4 well discovered a new gas-bearing compartment in the Maharaja Lela/Jamalulalam Field. A gas column of over 400 metres was encountered in reservoirs equivalent to those already in production in the field. Gas was also found in deeper, high-temperature/high-pressure (HT/HP) formations. Further appraisal is necessary to evaluate these discoveries.

Following the successful MLJ2-06T well, the ML-4 well completes the first phase of an exploration drilling program that will resume in 2009.

Present in Brunei since 1986, Total operates the Maharaja Lela/Jamalulalam Field, with an average production of gas and liquids of 28,500 barrels of oil equivalent per day in 2007. The gas is delivered to the Brunei LNG liquefaction plant.

Total also has a 60% interest in and operates deepwater exploration Block J, for which a production sharing agreement was signed in March 2003. Exploration operations in this 5,000-square-kilometer block were suspended in May 2003, pending resolution of a border dispute with Malaysia.

Total in the Asia-Pacific Region

Total’s production in the Asia-Pacific region averaged 252,000 barrels per day in 2007, accounting for 11% of the Group’s equity output, and is mostly located in Indonesia.

Recent years have seen the acquisition of interests in a number of exploration licenses in Malaysia, Australia, Indonesia, Bangladesh and Vietnam, as well as a 24% stake in Australia’s Ichthys LNG project.

*******

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, gas & power and trading. 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-99.5 6 u02053exhibit99w5.htm EX 99.5: INTERESTS ON BLOCKS OPL 279 AND 285, NIGERIA exhibit99w5

EXHIBIT 99.5

News Release

Communiqué de Pressee

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Acquisition of Interests on blocks OPL 279 and 285
in deep offshore Nigeria

Paris, November, 4 : Total announces today that it has signed an agreement with OMEL⁽¹⁾ Energy Nigeria Limited (OENL) and OMEL Exploration and Production Nigeria Limited (OEPNL) to acquire interests of 25.67% in deep offshore license OPL 285 and 14.5% in deep offshore license OPL 279. OENL will remain the operator for block OPL 285 and OEPNL the operator for block OPL 279. The Nigerian company EMO Exploration and Production Limited is also partner on both of the blocks.

The necessary approvals have been obtained from the Nigerian authorities.

Covering an area of around 1,170 square kilometers, OPL 285 is located approximately 80 kilometers offshore, near the Bonga field, in water depths ranging from 400 to 900 metres.

OPL 279 is located some 100 kilometres offshore, near the Ehra and Bosi fields, in water depths ranging from 800 to 1,800 meters. The license covers an area of around 1,125 square kilometres.

For each block, the first exploration period, which ends in 2012, encompasses the committments of acquisition and processing of 500 square kilometres of 3D seismic and the drilling of one exploration well. In the second five year exploration period, which is optional, the work commitments will cover the acquisition of a further 500 square kilometres of 3D seismic and the drilling of two exploration and/or appraisal wells.

Total E&P Nigeria


⁽¹⁾		OMEL : ONGC Videsh 49,98 %, Mittal Investments 48,02 %, SBI Caps 2 %

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

The Group’s onshore production comes from the OML 58 block, also operated by Total as part of a joint venture with NNPC. The main fields here are Obagi, for oil, and Ibewa, for gas. The recent OML 58 Upgrade project is designed to increase gas, oil and condensate production capacity.

In addition, Total has significant equity production in Nigeria from its interests in non-operated ventures, particularly the SPDC JV (10%) and SNEPCO (12.5%), which includes the Bonga field. Total also holds a 15% interest in NLNG, where annual LNG production capacity has risen to 21.9 million metric tons since Train 6 was brought on stream end 2007.

Total is committed to promoting local content in its activities, following the example of the Usan and OML 58 projects, where respectively 60% and 90% of the man hours planned will be performed in Nigeria. The Group continues to develop the expertise of Nigerian companies in deep offshore project-related work. This is particularly the case in the Niger Delta region, from which more than half of Total’s Nigerian employees come and where the majority of the Group’s operations in the country are located.

Total is one of the largest oil majors in Africa and produces oil or gas in Algeria, Libya, Nigeria, Angola, the Republic of Congo, Gabon and Cameroon.

*******

EX-99.6 7 u02053exhibit99w6.htm EX 99.6: 3RD QUARTER 2008 RESULTS OF TOTAL exhibit99w6

Exhibit 99.6

News Release

Communiqué de Presse

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Paris, November 5, 2008

Third quarter 2008 results

Main results^1-2


•	*Third quarter adjusted net income*³	4.1 billion euros	+35%
		6.1 billion dollars	+48%

		1.81 euros per share	+37%
		2.73 dollars per share	+50%

•	*First nine months adjusted net income*	11.0 billion euros	+21%
		16.8 billion dollars	+37%

•	*First nine months net income* (Group share)	11.4 billion euros	+19%

Highlights since the beginning of the third quarter 2008

•

Third quarter 2008 Upstream production of 2,231 kboe/d, a decrease of 5% or 2.5% excluding the price effect¹

	§		Contribution from new projects, such as Dolphin, Moho Bilondo and Jura

	§		Large negative impacts this quarter related to additional security issues in Nigeria and technical incidents in Libya and the North Sea

•		*Launched a project to increase capacity on OML 58 in Nigeria*

•		Major success delineating the West Franklin field in the UK North Sea increased production potential to 45 kboe/d from 20 kboe/d and resources to 200 Mboe from 80 Mboe with a development using existing infrastructure

•		*New discoveries in Australia in the Browse Basin, north of Ichthys, in Angola on Block 15/06, in Norway and in Brunei*

•		*Added exploration acreage in Yemen, Bolivia and in the Gulf of Mexico*

•		*Acquired Goal Petroleum and started up the K5F field in the Netherlands*

•		*Strengthened position in heavy oil to prepare for the long term by acquiring Synenco in Canada and a 60% interest in Madagascar’s giant Bemolanga field*

•		*Signed agreements with national oil companies in Syria and Libya strengthening the long-term presence of Total in these countries*

•		Developing new sources of energy : approved investment to double Photovoltech’s production capacity for solar cells and started production of a « methanol to olefins » pilot project at Feluy in Belgium

•		*Announced the 2008 interim dividend of 1.14 € per share*


¹		percent changes are relative to the same period 2007.

²		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period : 1.5050 $/€ in the third quarter 2008, 1.3738 $/€ in the third quarter 2007, 1.5622 $/€ in the second quarter 2008, 1.5217 $/€ in the first nine months of 2008, and 1.3443 $/€ in the first nine months of 2007.

³		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. Net income (Group share) for the third quarter 2008 was 3,050 M€, a decrease of 2% compared to the third quarter 2007.

An increase of 14%¹, in line with Total’s competitive dividend growth policy

The Board of Directors of Total, led by Chairman Thierry Desmarest, met on November 4, 2008 and reviewed the third quarter 2008 accounts.

Adjusted net income rose to 4,070 million euros (M€), an increase of 35% compared to the third quarter 2007 and 9% compared to the second quarter 2008.

Commenting on the results, CEO Christophe de Margerie said :

« After reaching close to 150 dollars per barrel in July, the price of Brent suffered a severe correction and settled to an average price for the quarter of 115 dollars per barrel. The decrease in the price of oil accelerated in the month of October, mainly due to concerns about the global economy. Refining margins in Europe hit high levels and petrochemical margins recovered, benefiting from the decrease in the price of naphtha during the quarter. At the same time, the dollar appreciated relative to the euro.

In this very high price environment, Total’s adjusted fully-diluted earnings per share expressed in dollars increased by 50% compared to the third quarter 2007 and 6% compared to the previous quarter. Cash flow expressed in dollars increased by 126% and the net-debt-to-equity ratio was reduced to 15%. Profitability of the business segments was 29.5%.

This performance demonstrates once again the quality of Total’s integrated portfolio. This quarter the Upstream benefited from high oil and gas prices. However, the contribution of new production from Jura in the North Sea and Moho Bilondo in Congo were unable to offset the price effect, the impacts of technical problems in Libya and in the North Sea, production outages related to additional security problems in Nigeria, and the normal decline on producing fields. Downstream and Chemicals also benefited from a favorable environment despite a decrease in demand linked to global economic conditions and continued to implement self-help programs.

The 14% increase in the 2008 interim dividend announced at the beginning of September demonstrates the confidence of the Group in its strategy. Total confirms its ability to pursue a policy of competitive dividend growth even in a less favorable environment.

For the future, the Group can rely on its strong balance sheet, a cost base that is among the lowest in the industry and its strict management discipline. The many strengths of Total allow it to pursue its strategy for growth and to continue to create value for all of its stakeholders. »

¨ ¨ ¨

l Key figures and consolidated accounts of Total⁴


						3Q08								9M08
						vs			in millions of euros					vs
3Q08		2Q08		3Q07		3Q07			except earnings per share and number of shares	9M08		9M07		9M07

	48,849		48,200		39,430		+24	%	Sales		141,262		115,567		+22	%

	8,083		7,786		5,770		+40	%	Adjusted operating income from business segments		22,988		17,255		+33	%

	4,063		3,756		3,000		+35	%	Adjusted net operating income from business segments		11,019		9,029		+22	%

	2,899		3,099		2,227		+30	%	• Upstream		8,729		6,280		+39	%
	901		587		526		+71	%	• Downstream		1,799		1,989		-10	%
	263		70		247		+6	%	• Chemicals		491		760		-35	%

	4,070		3,723		3,004		+35	%	Adjusted net income		11,047		9,096		+21	%

	1.81		1.65		1.32		+37	%	Adjusted fully-diluted earnings per share (euros)		4.91		3.99		+23	%

	2,244.3		2,252.9		2,272.6		-1	%	Fully-diluted weighted-average shares (millions)		2,250.4		2,277.3		-1	%

	3,050		4,732		3,121		-2	%	Net income (Group share)		11,384		9,581		+19	%

	3,371		2,868		2,590		+30	%	Investments		8,882		7,694		+15	%

	718		726		109		x6.6		Divestments		1,642		575		+186	%

	7,338		1,922		3,549		+107	%	Cash flow from operating activities		14,576		13,526		+8	%

	5,642		4,798		4,260		+32	%	Adjusted cash flow		14,771		12,939		+14	%


						3Q08								9M08
						vs			in millions of dollars⁵					vs
3Q08		2Q08		3Q07		3Q07			except earnings per share and number of shares	9M08		9M07		9M07

	73,518		75,298		54,169		+36	%	Sales		214,958		155,357		+38	%

	12,165		12,163		7,927		+53	%	Adjusted operating income from business segments		34,981		23,196		+51	%

	6,115		5,868		4,121		+48	%	Adjusted net operating income from business segments		16,768		12,138		+38	%

	4,363		4,841		3,059		+43	%	• Upstream		13,283		8,442		+57	%

	1,356		917		723		+88	%	• Downstream		2,738		2,674		+2	%

	396		109		339		+17	%	• Chemicals		747		1,022		-27	%

	6,125		5,816		4,127		+48	%	Adjusted net income		16,810		12,228		+37	%

	2.73		2.58		1.82		+50	%	Adjusted fully-diluted earnings per share (dollars)		7.47		5.37		+39	%

	2,244.3		2,252.9		2,272.6		-1	%	Fully-diluted weighted-average shares (millions)		2,250.4		2,277.3		-1	%

	4,590		7,392		4,288		+7	%	Net income (Group share)		17,323		12,880		+34	%

	5,073		4,480		3,558		+43	%	Investments		13,516		10,343		+31	%

	1,081		1,134		150		x7.2		Divestments		2,499		773		+223	%

	11,044		3,003		4,876		+126	%	Cash flow from operating activities		22,180		18,183		+22	%

	8,491		7,495		5,852		+45	%	Adjusted cash flow		22,477		17,394		+29	%


⁴		adjusted income (adjusted operating income, adjusted net operating income and adjusted net income) is defined as income using replacement cost, adjusted for special items and excluding Total’s equity share of amortization of intangibles related to the Sanofi-Aventis merger; adjusted cash flow is defined as cash flow from operating activities at replacement cost before changes in working capital; adjustment items are listed on page 17.

⁵		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

l Third quarter 2008 results

> Operating income

In the third quarter 2008, the Brent price averaged 115.1 $/b, an increase of 54% compared to the third quarter 2007 and a decrease of 5% compared to the second quarter 2008. The TRCV European refining margin indicator averaged 45 $/t over the quarter, an increase of 88% compared to the third quarter 2007 and an increase of 12% compared to the second quarter 2008.

Petrochemical margins rebounded despite the decrease in demand, benefiting from a drop in naphtha prices over the quarter.

The average euro-dollar exchange rate was 1.51 $/€ in the third quarter 2008 compared to 1.37 $/€ in the third quarter 2007 and 1.56 $/€ in the second quarter 2008.

In this context, adjusted operating income from the business segments was 8,083 M€, an increase of 40% compared to the third quarter 2007⁶, or expressed in dollars an increase of 53%.

The effective tax rate⁷ for the business segments was 56.0% in the third quarter 2008 compared to 57.7% in the second quarter 2008 and 54.4% in the third quarter 2007. The sequential decrease in the rate is essentially due to the increase in the share of the Downstream and Chemicals segments in the results. The increase in the rate compared to the third quarter 2007 is essentially due to the higher average effective tax rate for the Upstream segment.

Adjusted net operating income from the business segments rose to 4,063 M€ compared to 3,000 M€ in the third quarter 2007, an increase of 35%.

The smaller increase, compared to the percentage increase in operating income, is essentially due to the increase in the effective tax rate between the two quarters.

Expressed in dollars, adjusted net operating income from the business segments was 6.1 billion dollars (B$), an increase of 48% compared to the third quarter 2007.

> Net income

Adjusted net income was 4,070 M€ compared to 3,004 M€ in the third quarter 2007, an increase of 35%. Expressed in dollars, adjusted net income increased by 48%.

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 negative impact on net income of 752 M€ in the third quarter 2008 and a positive impact of 139 M€ in the third quarter 2007.

•

Special items had a negative impact on net income of 190 M€ in the third quarter 2008, essentially due to the impact of contract renegotiations in Libya, and a positive impact of 55 M€⁸ in the third quarter 2007.

•

The Group’s share of the amortization of intangibles related to the Sanofi-Aventis merger had a negative impact on net income of 78 M€ in the third quarter 2008 and a negative impact of 77 M€ in the third quarter 2007.

Net income (Group share) was 3,050 M€ compared to 3,121 M€ in the third quarter 2007.

In the third quarter 2008, the Group bought back 8 million of its shares for 376 M€.

Adjusted fully-diluted earnings per share, based on 2,244.3 million fully-diluted weighted-average shares rose to 1.81 euros from 1.32 euros in the third quarter 2007, an increase of 37%.

Expressed in dollars, adjusted fully-diluted earnings per share increased by 50% to 2.73.


⁶		there were no special items affecting operating income from the business segments in the third quarters of 2007 and 2008.

⁷		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).

⁸		detail shown on page 17.

> Investments – divestments

Investments, excluding acquisitions and including net investments in equity affiliates and non-consolidated companies, were 2,774 M€ (4.2 B$) in the third quarter 2008 compared to 2,456 M€ (3.4 B$) in the third quarter 2007.

Acquisitions were 421 M€ (0.6 B$) in the third quarter 2008, mainly for the acquisitions of Synenco in Canada and a 60% share of the Bemolanga permit in Madagascar.

Third quarter 2008 asset sales were 524 M€ (0.8 B$), reflecting essentially sales of Sanofi-Aventis shares.

Net investments⁹ were 4.0 B$ in the third quarter 2008.

> Cash flow

Cash flow from operating activities was 7,338 M€ in the third quarter 2008, an increase of 107% compared to third quarter 2007. Expressed in dollars, cash flow from operating activities was 11 B$, an increase of 126%.

Cash flow benefited from a decrease in working capital requirements of 2,889 M€ linked essentially to the decrease in hydrocarbon prices over the quarter.

Adjusted cash flow¹⁰ was 5,642 M€, an increase of 32%. Expressed in dollars, adjusted cash flow was 8.5 B$, an increase of 45%.

Net cash flow¹¹ was 4,685 M€ compared to 1,068 M€ in the third quarter 2007. Expressed in dollars, net cash flow was 7.1 B$ in the third quarter 2008.


⁹		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

¹⁰		adjusted cash flow = cash flow from operating activities at replacement cost before changes in working capital.

¹¹		net cash flow = cash flow from operating activities + divestments – investments.

l Results for the first nine months of 2008

> Operating income

Compared to the first nine months of 2007, the oil environment of the first nine months of 2008 was marked by a 66% increase in the average Brent price to 111.1 $/b. The TRCV European refining margin indicator increased by 10% to 36.6 $/t. The environment for Total’s petrochemicals was hurt by falling demand in the Atlantic Basin and in the second quarter 2008 by very weak petrochemical margins.

The average euro-dollar exchange rate was 1.52 $/€ compared to 1.34 $/€ for the first nine months of 2007.

In this context, adjusted operating income from the business segments was 22,988 M€, or an increase of 33% compared to the first nine months of 2007¹².

The effective tax rate for the business segments was 57.6% compared to 54.0% for the first nine months of 2007, mainly due to the higher contribution from Upstream.

Adjusted net operating income from the business segments was 11,019 M€ compared to 9,029 M€ for the first nine months of 2007, an increase of 22%. The smaller increase, compared to the percentage increase in adjusted operating income, is essentially due to the increase in the effective tax rate between the two periods.

Expressed in dollars, adjusted net operating income from the business segments increased by 38%.

> Net income

Adjusted net income increased by 21% to 11,047 M€ from 9,096 M€ in the first nine months of 2007.

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 676 M€ in the first nine months of 2008 and a positive impact of 755 M€ in the first nine months of 2007.

•

Special items had a negative impact on net income of 112 M€ in the first nine months of 2008 and a negative impact of 45 M€ in the first nine months of 2007¹³.

•

The Group’s share of the amortization of intangibles related to the Sanofi-Aventis merger had a negative impact on net income of 227 M€ in the first nine months of 2008 and a negative impact of 225 M€ in the first nine months of 2007.

Net income (Group share) was 11,384 M€ compared to 9,581 M€ in the first nine months of 2007.

In the first nine months of 2008, the Group bought back 24 million of its shares for 1,194 M€. There were 2,238.3 million fully-diluted shares outstanding on September 30, 2008 compared to 2,271.0 on September 30, 2007. The Group continued to buy back shares in October 2008, acquiring 3.6 million shares for 145 M€.

Adjusted fully-diluted earnings per share, based on 2,250.4 million fully-diluted weighted-average shares rose to 4.91 euros compared to 3.99 euros in the first nine months of 2007, an increase of 23%.

Expressed in dollars, adjusted fully-diluted earnings per share increased by 39% to 7.47 in the first nine months of 2008 from 5.37 in the first nine months of 2007.


¹²		there were no special items affecting operating income from the business segments in the first nine months of 2008 and 2007.

¹³		detail shown on page 17.

> Investments – divestments

Investments, excluding acquisitions and including net investments in equity affiliates and non-consolidated companies, were 7,363 M€ (11.2 B$) in the first nine months of 2008 compared to 7,252 M€ (9.7 B$) in the first nine months of 2007.

Acquisitions were 516 M€ (0.8 B$) in the first nine months of 2008, essentially for the acquisition of Synenco in Canada, a 60% interest in the Bemolanga permit in Madagascar and new permits in Nigeria.

Asset sales in the first nine months of 2008 were 719 M€ (1.1 B$), reflecting mainly sales of Sanofi-Aventis shares.

Net investments¹⁴ were 11.0 B$ in the first nine months of 2008.

> Cash flow

Cash flow from operating activities was 14,576 M€ in the first nine months of 2008, an increase of 8% compared to the first nine months of 2007. Expressed in dollars, this represented an increase of 22% to 22.2 B$.

Adjusted cash flow¹⁵ was 14,771 M€, an increase of 14%. Expressed in dollars, adjusted cash flow was 22.5 B$, an increase of 29% compared to the first nine months of 2007.

Net cash flow¹⁶ for the Group was 7,336 M€ compared to 6,407 M€ for the first nine months of 2007. Expressed in dollars, net cash flow was 11.2 B$, an increase of 30% compared to the first nine months of 2007.

The net-debt-to-equity ratio decreased to 15% on September 30, 2008 from 25% on June 30, 2008 and 24% on September 30, 2007¹⁷.


¹⁴		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

¹⁵		adjusted cash flow = cash flow from operations at replacement cost before changes in working capital.

¹⁶		net cash flow = cash flow from operations + divestments – investments.

¹⁷		detail shown on page 18.

l Analysis of business segment results

Upstream

> Environment – liquids and gas price realizations*

3Q08

9M08

3Q08

2Q08

3Q07

9M08

9M07

115.1

121.2

74.7

+54%

Brent ($/b)

111.1

67.1

+66%

107.8

114.9

71.4

+51%

Average liquids price ($/b)

104.4

63.8

+64%

8.05

7.29

4.83

+67%

Average gas price ($/Mbtu)

7.31

5.16

+42%

83.9

87.3

55.4

+51%

Average hydrocarbons price ($/boe)

80.4

51.7

+56%


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

Compared to the same periods in 2007, Total’s average realized liquids price increased by 51% and 64% respectively in the third quarter and the first nine months of 2008. The average realized natural gas price increased by 67% and 42% respectively.

> Production

3Q08

9M08

3Q08

2Q08

3Q07

Hydrocarbon production

9M08

9M07

2,231

2,353

2,352

-5.1%

Combined production (kboe/d)

2,336

2,368

-1.4%

1,409

1,471

1,481

-4.9%

• Liquids (kb/d)

1,463

1,502

-2.6%

4,471

4,772

4,741

-5.7%

• Gas (Mcf/d)

4,743

4,707

+0.8%

In the third quarter 2008, hydrocarbon production was 2,231 thousand barrels of oil equivalent per day (kboe/d), a decrease of 5% compared to the third quarter 2007, mainly as a result of :

•

+2% of growth from start-ups and ramp-ups of major new projects, including Dolphin, Moho Bilondo and Jura, net of the normal decline on producing fields,

•

-3.5% for unscheduled shutdowns on the Al Jurf field in Libya since May 2008 and on the Bruce and Alwyn fields in the North Sea in the summer,

•

-1% related to disruptions in Nigeria due to security issues,

•

-2.5% for the price effect¹⁸.

In the first nine months of 2008, hydrocarbon production was 2,336 kboe/d, a decrease of close to 1.5% compared to the first nine months of 2007, mainly as a result of :

•

+4% of growth from start-ups and ramp-ups of major new projects, including Dalia, Rosa and Dolphin, net of the normal decline on producing fields,

•

-2.5% for unscheduled shutdowns on the Elgin Franklin field in February, the Al Jurf field since May and the Bruce and Alwyn fields in the summer,

•

-2.5% for the price effect¹⁸,

•

-0.5% for changes in the portfolio.

Underlying production growth for the first nine months, excluding the price effect and changes in the portfolio, was +1.5%.


¹⁸		impact of changing hydrocarbon prices on entitlement volumes.

> Results

3Q08

9M08

3Q08

2Q08

3Q07

in millions of euros

9M08

9M07

6,525

6,964

4,861

+34%

Adjusted operating income*

19,912

13,676

+46%

2,899

3,099

2,227

+30%

Adjusted net operating income*

8,729

6,280

+39%

368

317

183

+101%

•includes income from equity affiliates

967

560

+73%

2,480

2,076

1,981

+25%

Investments

6,734

6,079

+11%

188

565

+198%

Divestments

860

427

+101%

3,732

3,643

1,697

+120%

Cash flow from operating activities

11,626

9,344

+24%

3,715

3,904

3,297

+13%

Adjusted cash flow

11,464

9,274

+24%


*		detail of adjustment items shown in business segment information.

Adjusted net operating income for the Upstream segment was 2,899 M€ in the third quarter 2008 compared to 2,227 M€ in the third quarter 2007, an increase of 30%.

Expressed in dollars, adjusted net operating income for the Upstream segment increased by 43%, reflecting essentially the impact of higher hydrocarbon prices that were partially offset by lower production volumes.

Compared to the third quarter 2007, the increase in income from equity affiliates was mainly due to changing the method of consolidation for PetroCedeño effective December 31, 2007 and the increase in income from equity affiliates in the LNG business.

The effective tax rate for the Upstream segment was 61.7% compared to 61.2% in the second quarter 2008 and 59.3% in the third quarter 2007.

The return on average capital employed (ROACE¹⁹) for the Upstream segment for the twelve months ended September 30, 2008 was 39.6%. For the twelve months ended June 30, 2008 it was 41.0% and for the full year 2007 it was 33.6%.


¹⁹		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 19.

Downstream

> Refinery throughput and utilization rates*


									3Q08										9M08
									vs										vs
3Q08			2Q08			3Q07			3Q07				9M08			9M07			9M07

	2,393			2,297			2,471			-3	%	Total refinery throughput (kb/d)		2,360			2,415			-2	%

	1,013			932			915			+11	%	• France		959			947			+1	%
	1,168			1,055			1,253			-7	%	• Rest of Europe		1,130			1,177			-4	%
	212			310			303			-30	%	• Rest of world		271			291			-7	%

												Utilization rates

	89	%		85	%		88	%				• Based on crude only		87	%		86	%
	92	%		88	%		92	%				• Based on crude and other feedstock		91	%		89	%


*		includes share of CEPSA.

Third quarter 2008 refinery throughput decreased by 3% compared to the third quarter 2007. Excluding the impact of the sale in November 2007 of the Milford Haven refinery in the UK, refinery throughput was stable. Compared to the second quarter 2008, throughput volumes increased by 4%, despite the negative 3% impact of the hurricane-related shutdown of the Gulf coast Port Arthur refinery.

The third quarter 2008 utilization rates based on crude only and based on crude and other feedstocks were 89% and 92% respectively, stable compared to the third quarter 2007 and notably higher compared to the second quarter 2008.

Refinery turnarounds in the third quarter 2008 were limited to a scheduled partial shutdown of the Feyzin refinery that began at the end of September.

The third quarter 2007 included scheduled partial shutdowns of the Lindsey and Normandy refineries.

The second quarter 2008 included a scheduled complete shutdown of the Leuna refinery and scheduled partial shutdowns of the Normandy and Grandpuit refineries.

Turnaround activity scheduled for the fourth quarter 2008 is limited to partial shutdowns of the Feyzin and Provence refineries.

> Results


							3Q08								9M08
							vs			in millions of euros					vs
3Q08		2Q08			3Q07		3Q07			except TRCV refining margins	9M08		9M07		9M07

	45.0		40.2			23.9		+88	%	European refining margin indicator — TRCV ($/t)		36.6		33.3		+10	%

	1,215		744			566		+115	%	Adjusted operating income*		2,457		2,543		-3	%

	901		587			526		+71	%	Adjusted net operating income*		1,799		1,989		-10	%
	39		15			63		-38	%	• includes income from equity affiliates		56		201		-72	%

	638		514			381		+67	%	Investments		1,446		1,026		+41	%

	46		128			27		+70	%	Divestments		198		77		+157	%

	2,731		(1,391	)		439		x6.2		Cash flow from operating activities		2,508		3,776		-34	%

	1,466		623			743		+97	%	Adjusted cash flow		2,609		2,781		-6	%


*		detail of adjustment items shown in business segment information.

The TRCV European refining margin indicator was 45 $/t in the third quarter 2008, an increase of 88% compared to the third quarter 2007 and 12% compared to the second quarter 2008.

Adjusted net operating income for the Downstream segment was 901 M€ in the third quarter 2008, an increase of 71% compared to the third quarter 2007 and 53% compared to the second quarter 2008.

Expressed in dollars, adjusted net operating income for the Downstream segment was 1,356 M$, an increase of 88% compared to the third quarter 2007 and 48% compared to the second quarter 2008.

The decrease in income from equity affiliates in the third quarter 2008 compared to the third quarter 2007 was mainly due to losses incurred through Total’s participation in Wepec, its affiliate for refining in China.

The ROACE²⁰ for the Downstream segment for the twelve months ended September 30, 2008 was 19.5%. For the twelve months ended June 30, 2008 it was 16.0% and for the full year 2007 it was 20.6%.


²⁰		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 19.

Chemicals


						3Q08									9M08
						vs									vs
3Q08		2Q08		3Q07		3Q07			in millions of euros	9M08			9M07		9M07

	5,431		5,478		4,856		+12	%	Sales		16,138			14,921		+8	%

	3,675		3,632		3,071		+20	%	• Base chemicals		10,727			9,424		+14	%

	1,756		1,846		1,785		-2	%	• Specialties		5,411			5,497		-2	%


	343		78		343		—		Adjusted operating income*		619			1,036		-40	%

	263		70		247		+6	%	Adjusted net operating income*		491			760		-35	%

	176		-23		140		+26	%	• Base chemicals		214			439		-51	%

	89		97		99		-10	%	• Specialties		284			316		-10	%


	212		221		200		+6	%	Investments		597			546		+9	%

	14		12		15		-7	%	Divestments		33			63		-48	%

	14		169		217		-94	%	Cash flow from operating activities		(19	)		578	na

	352		152		300		+17	%	Adjusted cash flow		770			931		-17	%


*		detail of adjustment items shown in business segment information.

Petrochemical margins rebounded in the third quarter 2008, benefiting from a decrease in the price of naphtha over the quarter. Sales volumes for polymers, however, continued to reflect weaker demand in the Atlantic Basin.

In the third quarter 2008, sales for the Chemicals segment were 5,431 M€.

Adjusted net operating income for the Chemicals segment was 263 M€, an increase of 6% compared to the third quarter 2007.

The increase in the results for Base chemicals was primarily due to the increasing contribution from production based on ethane feedstock.

The results of the Specialties continued to be satisfactory despite a slowdown in the economic environment.

The ROACE²¹ for the Chemicals segment for the twelve months ended September 30, 2008 was 7.5%. For the twelve months ended June 30, 2008, it was 7.7% and for the full year 2007 it was 12.1%.


²¹		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 19.

l Summary and outlook

The ROACE²² for the twelve months ended September 30, 2008 was 27% for the Group and 29% for the business segments compared respectively to 25% and 29% for the twelve months ended June 30, 2008 and 24% and 27% for the full year 2007.
Return on equity for the twelve months ended September 30, 2008 was 31%.

Total will pay the 2008 interim dividend of 1.14 € per share²³ on November 19, 2008²⁴, an increase of 14% compared to the 2007 interim dividend.

Implementation of the 2008 investment program of 19 B$²⁵ is progressing as planned.

The Group continued to strengthen its balance sheet by reducing its net-debt-to-equity ratio to 15.4% at the end of September 2008. In parallel, Total is maintaining a high level of liquidity and pursuing a policy of progressively divesting non-strategic holdings.

Since the start of the fourth quarter 2008, the Brent oil price has fallen to around 60 $/b. European refining margins have pulled well back from the September highs but remain near the level of the third quarter average.

Major project developments are progressing generally in line with targets. Five significant new projects are expected to start production in 2009, including Akpo in Nigeria, Yemen LNG and Qatargas II.

Total reaffirms its view of higher oil prices in the medium to long term, supported by a tight supply-demand balance. In the short term, OPEC action and certain issues affecting oil production in a number of producing countries should allow supply and demand to remain in balance, largely as a function of adjusting the supply to weaker levels of demand.

The Group’s strength is in the consistency of its long-term strategy, its discipline, the quality of its integrated portfolio and the competitive advantage of its low technical costs.

Total has the financial strength and flexibility to continue to develop the company within the framework of its strict decision criteria and to maintain competitive dividend growth even through a prolonged period of weakness in the environment.

¨ ¨ ¨

To listen to CFO Patrick de la Chevardière’s conference call with financial analysts today at 15:00 (Paris time) please log on to www.total.com or call +44 (0)203 043 2441 in Europe or +1 866 907 5928 in the U.S. (access code : Total). For a replay through November 14, please consult the website or call +44 (0)207 075 3214 in Europe or 1 866 828 2261 in the US (code : 230 340).


²²		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 19.

²³		approved by the Board of Directors on September 9, 2008

²⁴		the ex-dividend date for the interim dividend on 2008 shares will be November 14, 2008

²⁵		based on 1 € = $1.50 for 2008, includes net investments in equity affiliates and non-consolidated companies, excludes acquisitions

l Board reviews October 6, 2008 AFEP-MEDEF recommendations

At its meeting on November 4, 2008, the Board of Directors reviewed the recommendations, dated October 6, 2008, of the AFEP-MEDEF regarding compensation for executive directors of listed companies.

The Board concluded that these recommendations were consistent with the corporate governance principles of Total.

The Board then decided that, starting with the current fiscal year, the AFEP-MEDEF code, modified to take into account these recommendations, will be the basis for the preparation of the report required by Article L. 225-37 of the French Commercial Code.

The September 30, 2008 notes to the condensed consolidated accounts are available on the Total web site (www.total.com). 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 its competitors, mainly North American. 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.

Dollar amounts presented herein represent euro amounts converted at the average euro-dollar exchange rate for the applicable period and are not the result of financial statements prepared in dollars.

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 press release, such as 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 No. 1-10888 available from us at 2, place Jean Millier — La Défense 6 — 92078 Paris, La Défense cedex, France or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website: www.sec.gov.

Operating information by segment
Third quarter and first nine months 2008

l Upstream


						3Q08								9M08
						vs			Combined liquids and gas					vs
3Q08		2Q08		3Q07		3Q07			production by region (kboe/d)	9M08		9M07		9M07

	553		601		628		-12	%	Europe		593		672		-12	%

	753		796		811		-7	%	Africa		801		797		+1	%

	13		14		18		-28	%	North America		14		22		-36	%

	247		246		252		-2	%	Far East		248		252		-2	%

	430		433		393		+9	%	Middle East		433		384		+13	%

	212		236		228		-7	%	South America		221		226		-2	%

	23		27		22		+5	%	Rest of world		26		15		+73	%

	2,231		2,353		2,352		-5	%	Total production		2,336		2,368		-1	%

	398		418		317		+26	%	Includes equity and non-consolidated affiliates		404		322		+25	%


						3Q08								9M08
						vs								vs
3Q08		2Q08		3Q07		3Q07			Liquids production by region (kb/d)	9M08		9M07		9M07

	288		299		313		-8	%	Europe		295		333		-11	%

	633		667		689		-8	%	Africa		670		680		-1	%

	10		11		11		-9	%	North America		11		14		-21	%

	28		27		29		-3	%	Far East		28		29		-3	%

	330		331		322		+2	%	Middle East		332		324		+2	%

	109		125		107		+2	%	South America		115		113		+2	%

	11		11		10		+10	%	Rest of world		12		9		+33	%

	1,409		1,471		1,481		-5	%	Total production		1,463		1,502		-3	%

	344		366		262		+31	%	Includes equity and non-consolidated affiliates		350		269		+30	%


						3Q08								9M08
						vs								vs
3Q08		2Q08		3Q07		3Q07			Gas production by region (Mcf/d)	9M08		9M07		9M07

	1,442		1,639		1,710		-16	%	Europe		1,618		1,837		-12	%

	621		667		630		-1	%	Africa		659		604		+9	%

	12		19		32		-63	%	North America		18		36		-50	%

	1,210		1,210		1,251		-3	%	Far East		1,222		1,247		-2	%

	552		548		384		+44	%	Middle East		560		326		+72	%

	569		610		669		-15	%	South America		589		625		-6	%

	65		79		65		—		Rest of world		77		32		+141	%

	4,471		4,772		4,741		-6	%	Total production		4,743		4,707		+1	%

	290		281		289		—		Includes equity and non-consolidated affiliates		293		286		+2	%

3Q08

9M08

3Q08

2Q08

3Q07

Liquefied natural gas

9M08

9M07

2.32

2.21

2.31

—

LNG sales (Mt)*

6.90

6.74


*		sales, Group share, excluding trading ; estimated volumes for Bontang in Indonesia based on 2007 SEC coefficient. ; 1 Mt/y = approx. 133 Mcf/d.

l Downstream


						3Q08								9M08
						vs								vs
3Q08		2Q08		3Q07		3Q07			Refined products sales by region (kb/d)*	9M08		9M07		9M07

	2,161		1,999		2,305		-6	%	Europe		2,102		2,265		-7	%

	279		280		292		-4	%	Africa		279		286		-2	%

	136		220		194		-30	%	Americas**		170		189		-10	%

	147		143		148		-1	%	Rest of world		145		144		+1	%

	2,723		2,642		2,939		-7	%	Total consolidated sales		2,696		2,884		-7	%

	992		956		790		+26	%	Trading		964		878		+10	%

	3,715		3,598		3,729		—		Total refined product sales		3,660		3,762		-3	%


*		includes share of CEPSA.

**		third quarter 2007 restated to reflect a change in the method of calculating volumes for Port Arthur.

Adjustment items

l Adjustments to operating income from business segments


3Q08			2Q08		3Q07		in millions of euros	9M08		9M07

	—			—		—	Special items affecting operating income from the business segments		—		—

	—			—		—	• Restructuring charges		—		—
	—			—		—	• Impairments		—		—
	—			—		—	• Other		—		—

	(1,193	)		1,687		210	Pre-tax inventory effect : FIFO vs. replacement cost		869		1,103

	(1,193	)		1,687		210	Total adjustments affecting operating income from the business segments		869		1,103

l Adjustments to net income (Group share)


3Q08			2Q08			3Q07			in millions of euros	9M08			9M07

	(190	)		(67	)		55		Special items affecting net income (Group share)		(112	)		(45	)

	—			—			75		• Equity share of special items recorded by Sanofi-Aventis		—			75
	50			2			—		• Gain on asset sales		197			—
	(4	)		(44	)		(20	)	• Restructuring charges		(48	)		(20	)
	(34	)		—			—		• Impairments		(34	)		—
	(202	)		(25	)		—		• Other		(227	)		(100	)

	(78	)		(78	)		(77	)	Adjustment related to the Sanofi-Aventis merger* (share of amortization of intangible assets)		(227	)		(225	)

	(752	)		1,154			139		After-tax inventory effect : FIFO vs. replacement cost		676			755

	(1,020	)		1,009			117		Total adjustments to net income		337			485


*		based on Total’s share in Sanofi-Aventis of 12.4% at 9/30/2008 and 13.2% at 9/30/2007 and 6/30/2008.

Investments — Divestments


								3Q08									9M08
								vs									vs
3Q08			2Q08			3Q07		3Q07			in millions of euros	9M08			9M07		9M07

	2,774			2,091			2,456		+13	%	Investments excluding acquisitions*		7,363			7,252		+2	%

	212			205			234		-9	%	• Capitalized exploration		589			637		-8	%

	(56	)		(522	)		52	na			• Net investments in equity affiliates and non-consolidated companies		(466	)		116	na

	421			47			94		x4.5		Acquisitions		516			161		x3.2

	524			120			43		x12.2		Asset sales		719			216		x3.3

	2,653			2,142			2,481		+7	%	Net investments**		7,240			7,119		+2	%


*		includes net investments in equity affiliates and non-consolidated companies.

**		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

Net-debt-to-equity ratio


in millions of euros	9/30/2008			6/30/2008			9/30/2007

Current borrowings		5,378			4,795			9,194

Net current financial assets		(230	)		(49	)		(10,870	)

Non-current financial debt		16,347			14,777			15,103

Hedging instruments of non-current debt		(406	)		(540	)		(434	)

Cash and cash equivalents		(13,231	)		(7,245	)		(2,812	)

Net debt		7,858			11,738			10,181

Shareholders equity		50,801			48,273			42,818

Estimated dividend payable*		(920	)		(2,315	)		(906	)

Minority interests		1,001			855			851

Equity		50,882			46,813			42,763

Net-debt-to-equity ratio		15.4	%		25.1	%		23.8	%


*		for 9/30/2008, based on a 2008 dividend equal to the 2007 dividend of 2.07 €/share, after deducting the interim dividend of 1.14 € per share approved by the Board of Directors on September 9, 2008.

Effective tax rates


3Q08	2Q08			3Q07			Average tax rates*	9M08			9M07

61.7%		61.2	%		59.3	%	Upstream		61.8	%		59.8	%

55.9%		57.8	%		55.1	%	Group		57.6	%		54.4	%


*		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 adjusted	Impact on adjusted
			operating	net operating
	Scenario	Change	income(e)	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 adjusted operating income and the adjusted 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.

Return on average capital employed

l For the twelve months ended September 30, 2008


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

Adjusted net operating income		11,298			2,345			578			14,221			14,915
Capital employed at 9/30/2007*		26,863			11,446			7,305			45,614			53,243
Capital employed at 9/30/2008*		30,184			12,649			8,107			50,940			58,165


ROACE		39.6	%		19.5	%		7.5	%		29.5	%		26.8	%


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

**		capital employed for Chemicals reduced for the Toulouse-AZF provision of 139 M€ pre-tax at 9/30/2007 and 121 M€ pre-tax at 9/30/2008.

***		capital employed for the Group adjusted for the amount payable for the interim dividend approved in September 2008 (2,545 M€).

l For the twelve months ended June 30 2008


in millions of euros	Upstream			Downstream			Chemicals**			Segments			Group

Adjusted net operating income		10,626			1,970			562			13,158			13,810
Capital employed at 6/30/2007*		25,218			11,204			7,264			43,686			52,645
Capital employed at 6/30/2008*		26,676			13,491			7,394			47,561			56,107


ROACE		41.0	%		16.0	%		7.7	%		28.8	%		25.4	%


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

**		capital employed for Chemicals reduced for the Toulouse-AZF provision of 146 M€ pre-tax at 6/30/2007 and 126 M€ pre-tax at 6/30/2008.

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 adjusted for the amount payable for the interim dividend approved in September 2007 (2,252 M€).

CONSOLIDATED STATEMENT OF INCOME

TOTAL

(unaudited)


	3^rd quarter			2^nd quarter			3^rd quarter
(M€) ^(a)	2008			2008			2007

Sales		48,849			48,200			39,430
Excise taxes		(4,810	)		(4,900	)		(5,479	)
Revenues from sales		44,039			43,300			33,951

Purchases, net of inventory variation		(31,054	)		(27,958	)		(22,580	)
Other operating expenses		(4,708	)		(4,439	)		(4,060	)
Exploration costs		(144	)		(203	)		(135	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(1,329	)		(1,384	)		(1,310	)
Other income		107			15			123
Other expense		(262	)		(121	)		(64	)

Financial interest on debt		(241	)		(204	)		(455	)
Financial income from marketable securities and cash equivalents		114			113			324
Cost of net debt		(127	)		(91	)		(131	)
Other financial income		140			229			155
Other financial expense		(79	)		(80	)		(70	)

Income taxes		(4,038	)		(4,931	)		(3,185	)

Equity in income (loss) of affiliates		606			538			509

Consolidated net income		3,151			4,875			3,203

Group share **		3,050			4,732			3,121
Minority interests		101			143			82

Earnings per share (euros)		1.36			2.12			1.38

Fully-diluted earnings per share (euros) ***		1.36			2.10			1.37


** Adjusted net income		4,070			3,723			3,004

*** Adjusted fully-diluted earnings per share (euros)		1.81			1.65			1.32


(a)		Except for earnings per share

CONSOLIDATED STATEMENT OF INCOME

TOTAL

(unaudited)


	9 months			9 months
(M€) ^(a)	2008			2007

Sales		141,262			115,567
Excise taxes		(14,636	)		(16,440	)
Revenues from sales		126,626			99,127

Purchases, net of inventory variation		(84,631	)		(63,674	)
Other operating expenses		(13,979	)		(12,851	)
Exploration costs		(537	)		(604	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(4,007	)		(3,975	)
Other income		275			279
Other expense		(431	)		(230	)

Financial interest on debt		(702	)		(1,332	)
Financial income from marketable securities and cash equivalents		356			955
Cost of net debt		(346	)		(377	)
Other financial income		485			492
Other financial expense		(230	)		(211	)

Income taxes		(13,186	)		(9,567	)

Equity in income (loss) of affiliates		1,690			1,427

Consolidated net income		11,729			9,836

Group share **		11,384			9,581
Minority interests		345			255

Earnings per share (euros)		5.09			4.24

Fully-diluted earnings per share (euros) ***		5.06			4.21



** Adjusted net income		11,047			9,096

*** Adjusted fully-diluted earnings per share (euros)		4.91			3.99


(a)		Except for earnings per share

CONSOLIDATED BALANCE SHEET

TOTAL


	September 30, 2008			June 30, 2008			December 31, 2007			September 30, 2007
(M€)	(unaudited)			(unaudited)						(unaudited)

ASSETS

Non-current assets
Intangible assets, net		5,099			4,381			4,650			4,831
Property, plant and equipment, net		45,001			41,756			41,467			42,109
Equity affiliates: investments and loans		15,175			14,524			15,280			13,661
Other investments		1,293			1,246			1,291			1,343
Hedging instruments of non-current financial debt		406			540			460			434
Other non-current assets		2,196			2,179			2,155			1,756


Total non-current assets		69,170			64,626			65,303			64,134



Current assets
Inventories, net		15,500			17,185			13,851			12,580
Accounts receivable, net		19,983			21,856			19,129			18,200
Other current assets		9,061			9,644			8,006			7,142
Current financial assets		293			223			1,264			11,072
Cash and cash equivalents		13,231			7,245			5,988			2,812


Total current assets		58,068			56,153			48,238			51,806



Total assets		127,238			120,779			113,541			115,940

LIABILITIES & SHAREHOLDERS’ EQUITY

Shareholders’ equity
Common shares		5,929			6,003			5,989			5,987
Paid-in surplus and retained earnings		53,800			55,024			48,797			45,052
Currency translation adjustment		(4,063	)		(6,483	)		(4,396	)		(3,161	)
Treasury shares		(4,865	)		(6,271	)		(5,532	)		(5,060	)


Total shareholders’ equity — Group Share		50,801			48,273			44,858			42,818



Minority interests		1,001			855			842			851



Total shareholders’ equity		51,802			49,128			45,700			43,669



Non-current liabilities
Deferred income taxes		8,275			7,748			7,933			7,555
Employee benefits		2,580			2,533			2,527			2,813
Other non-current liabilities		6,857			6,567			6,843			6,295


Total non-current liabilities		17,712			16,848			17,303			16,663



Non-current financial debt		16,347			14,777			14,876			15,103



Current liabilities
Accounts payable		17,390			19,297			18,183			14,841
Other creditors and accrued liabilities		18,546			15,760			12,806			16,268
Current borrowings		5,378			4,795			4,613			9,194
Other current financial liabilities		63			174			60			202


Total current liabilities		41,377			40,026			35,662			40,505



Total Liabilities and shareholders’ equity		127,238			120,779			113,541			115,940

CONSOLIDATED STATEMENT OF CASH FLOW

TOTAL

(unaudited)


	3^rd quarter			2^nd quarter			3^rd quarter
(M€)	2008			2008			2007

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income		3,151			4,875			3,203
Depreciation, depletion and amortization		1,457			1,482			1,405
Non-current liabilities, valuation allowances and deferred taxes		242			32			235
Impact of coverage of pension benefit plans		—			—			—
(Gains) Losses on disposals of assets		(61	)		(15	)		(117	)
Undistributed affiliates’ equity earnings		(376	)		104			(306	)
(Increase) decrease in operating assets and liabilities		2,889			(4,563	)		(921	)
Other changes, net		36			7			50

Cash flow from operating activities		7,338			1,922			3,549

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions		(2,928	)		(2,619	)		(2,458	)
Acquisitions of subsidiaries, net of cash acquired		(191	)		—			—
Investments in equity affiliates and other securities		(132	)		(41	)		(40	)
Increase in non-current loans		(120	)		(208	)		(92	)

Total expenditures		(3,371	)		(2,868	)		(2,590	)
Proceeds from disposal of intangible assets and property, plant and equipment		35			16			17
Proceeds from disposal of subsidiaries, net of cash sold		4			84			—
Proceeds from disposal of non-current investments		485			20			26
Repayment of non-current loans		194			606			66

Total divestments		718			726			109

Cash flow used in investing activities		(2,653	)		(2,142	)		(2,481	)

CASH FLOW FROM (USED IN) FINANCING ACTIVITIES

Issuance (Repayment) of shares:
- Parent company shareholders		16			233			48
- Treasury shares		(334	)		(284	)		(491	)
- Minority shareholders		(1	)		—			(2	)
Cash dividends paid to:
- Parent company shareholders		—			(2,404	)		—
- Minority shareholders		1			(127	)		(2	)
Net issuance (repayment) of non-current debt		1,379			1,562			321
Increase (Decrease) in current borrowings		25			55			(143	)
Increase (Decrease) in current financial assets and liabilities		4			(18	)		(517	)
Cash flow from (used in) financing activities		1,090			(983	)		(785	)

Net increase (decrease) in cash and cash equivalents		5,775			(1,203	)		283
Effect of exchange rates and changes in scope of consolidation		211			107			(329	)
Cash and cash equivalents at the beginning of the period		7,245			8,341			2,858

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		13,231			7,245			2,812

CONSOLIDATED STATEMENT OF CASH FLOW

TOTAL

(unaudited)


	9 months			9 months
(M€)	2008			2007

CASH FLOW FROM OPERATING ACTIVITIES

Consolidated net income		11,729			9,836
Depreciation, depletion and amortization		4,344			4,338
Non-current liabilities, valuation allowances and deferred taxes		285			523
Impact of coverage of pension benefit plans		—			—
(Gains) Losses on disposals of assets		(229	)		(258	)
Undistributed affiliates’ equity earnings		(574	)		(635	)
(Increase) decrease in operating assets and liabilities		(1,064	)		(516	)
Other changes, net		85			238

Cash flow from operating activities		14,576			13,526

CASH FLOW USED IN INVESTING ACTIVITIES

Intangible assets and property, plant and equipment additions		(7,874	)		(7,090	)
Acquisitions of subsidiaries, net of cash acquired		(191	)		(20	)
Investments in equity affiliates and other securities		(280	)		(187	)
Increase in non-current loans		(537	)		(397	)

Total expenditures		(8,882	)		(7,694	)
Proceeds from disposal of intangible assets and property, plant and equipment		57			107
Proceeds from disposal of subsidiaries, net of cash sold		88			—
Proceeds from disposal of non-current investments		574			109
Repayment of non-current loans		923			359

Total divestments		1,642			575

Cash flow used in investing activities		(7,240	)		(7,119	)

CASH FLOW FROM (USED IN) FINANCING ACTIVITIES

Issuance (Repayment) of shares:
- Parent company shareholders		258			63
- Treasury shares		(1,045	)		(1,059	)
- Minority shareholders		(10	)		(2	)
Cash dividends paid to:
- Parent company shareholders		(2,404	)		(2,262	)
- Minority shareholders		(127	)		(164	)
Net issuance (repayment) of non-current debt		3,444			2,734
Increase (Decrease) in current borrowings		(807	)		2,364
Increase (Decrease) in current financial assets and liabilities		821			(7,485	)
Cash flow from (used in) financing activities		130			(5,810	)

Net increase in cash and cash equivalents		7,466			597
Effect of exchange rates and changes in scope of consolidation		(223	)		(278	)
Cash and cash equivalents at the beginning of the period		5,988			2,493

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		13,231			2,812

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

TOTAL

(unaudited)


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

As of January 1, 2007		2,425,767,953			6,064			41,460			(1,383	)		(161,200,707	)		(5,820	)		40,321			827			41,148

Net income for the first nine months		—			—			9,581			—			—			—			9,581			255			9,836

Items recognized directly in equity		—			—			75			(1,778	)		—			—			(1,703	)		(67	)		(1,770	)

Total excluding transactions with shareholders		—			—			9,656			(1,778	)		—			—			7,878			188			8,066

Dividend		—			—			(4,514	)		—			—			—			(4,514	)		(164	)		(4,678	)

Issuance of common shares		2,039,726			5			58			—			—			—			63			—			63

Purchase of treasury shares		—			—			—			—			(23,387,355	)		(1,287	)		(1,287	)		—			(1,287	)

Sale of treasury shares⁽¹⁾		—			—			(82	)		—			8,288,463			313			231			—			231

Share-based payments		—			—			126			—			—			—			126			—			126

Transactions with shareholders		2,039,726			5			(4,412	)		—			(15,098,892	)		(974	)		(5,381	)		(164	)		(5,545	)

Share cancellation		(33,005,000	)		(82	)		(1,652	)		—			33,005,000			1,734			—			—			—

As of September 30, 2007		2,394,802,679			5,987			45,052			(3,161	)		(143,294,599	)		(5,060	)		42,818			851			43,669

Net income for the fourth quarter		—			—			3,600			—			—			—			3,600			99			3,699

Items recognized directly in equity		—			—			42			(1,235	)		—			—			(1,193	)		(44	)		(1,237	)

Total excluding transactions with shareholders		—			—			3,642			(1,235	)		—			—			2,407			55			2,462

Dividend		—			—			4			—			—			—			4			(64	)		(60	)

Issuance of common shares		729,418			2			24			—			—			—			26			—			26

Purchase of treasury shares		—			—			—			—			(9,000,000	)		(500	)		(500	)		—			(500	)

Sale of treasury shares ⁽¹⁾		—			—			5			—			873,367			28			33			—			33

Share-based payments		—			—			70			—			—			—			70			—			70

Transactions with shareholders		729,418			2			103			—			(8,126,633	)		(472	)		(367	)		(64	)		(431	)

Share cancellation		—			—			—			—			—			—			—			—			—

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

Net income for the first nine months		—			—			11,384			—			—			—			11,384			345			11,729

Items recognized directly in equity		—			—			(153	)		333			—			—			180			(59	)		121

Total excluding transactions with shareholders		—			—			11,231			333			—			—			11,564			286			11,850

Dividend		—			—			(4,949	)		—			—			—			(4,949	)		(127	)		(5,076	)

Issuance of common shares		6,103,524			15			243			—			—			—			258			—			258

Purchase of treasury shares		—			—			—			—			(24,000,000	)		(1,194	)		(1,194	)		—			(1,194	)

Sale of treasury shares ⁽¹⁾		—			—			(71	)		—			5,917,729			220			149			—			149

Share-based payments		—			—			115			—			—			—			115			—			115

Transactions with shareholders		6,103,524			15			(4,662	)		—			(18,082,271	)		(974	)		(5,621	)		(127	)		(5,748	)

Share cancellation		(30,000,000	)		(75	)		(1,566	)		—			30,000,000			1,641			—			—			—

As of September 30, 2008		2,371,635,621			5,929			53,800			(4,063	)		(139,503,503	)		(4,865	)		50,801			1,001			51,802


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

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


3^rd quarter 2008
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,396			38,008			5,431			14			—			48,849
Intersegment sales		7,055			1,714			339			35			(9,143	)		—
Excise taxes		—			(4,810	)		—			—			—			(4,810	)

Revenues from sales		12,451			34,912			5,770			49			(9,143	)		44,039
Operating expenses		(5,030	)		(34,444	)		(5,449	)		(126	)		9,143			(35,906	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(896	)		(298	)		(126	)		(9	)		—			(1,329	)

Operating income		6,525			170			195			(86	)		—			6,804
Equity in income (loss) of affiliates and other items		197			114			24			177			—			512
Tax on net operating income		(4,031	)		(52	)		(55	)		57			—			(4,081	)

Net operating income		2,691			232			164			148			—			3,235
Net cost of net debt																	(84	)
Minority interests																	(101	)

Net income																	3,050


*3^rd quarter 2008 (adjustments) ()**
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales Intersegment sales Excise taxes

Revenues from sales
Operating expenses		—			(1,045	)		(148	)		—				(1,193	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		—			—			—			—				—

Operating income ^(a)		—			(1,045	)		(148	)		—				(1,193	)
Equity in income (loss) of affiliates and other items ^(b)		(208	)		33			(1	)		(54	)			(230	)
Tax on net operating income		—			343			50			(2	)			391

Net operating income ^(a)		(208	)		(669	)		(99	)		(56	)			(1,032	)
Net cost of net debt															—
Minority interests															12

Net income															(1,020	)


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

(a) Of which inventory valuation effect

On operating income

—

(1,045)

(148)

—

On net operating income

—

(665)

(99)

—

(b) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger

—

(78)


3^rd quarter 2008 (adjusted)
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,396			38,008			5,431			14			—			48,849
Intersegment sales		7,055			1,714			339			35			(9,143	)		—
Excise taxes		—			(4,810	)		—			—			—			(4,810	)

Revenues from sales		12,451			34,912			5,770			49			(9,143	)		44,039
Operating expenses		(5,030	)		(33,399	)		(5,301	)		(126	)		9,143			(34,713	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(896	)		(298	)		(126	)		(9	)		—			(1,329	)

Adjusted operating income		6,525			1,215			343			(86	)		—			7,997
Equity in income (loss) of affiliates and other items		405			81			25			231			—			742
Tax on net operating income		(4,031	)		(395	)		(105	)		59			—			(4,472	)

Adjusted net operating income		2,899			901			263			204			—			4,267
Net cost of net debt																	(84	)
Minority interests																	(113	)

Ajusted net income																	4,070


3^rd quarter 2008
(M€)	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total

Total expenditures		2,480		638		212		41			3,371
Total divestments		188		46		14		470			718
Cash flow from operating activities		3,732		2,731		14		861			7,338

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


2^nd quarter 2008
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,739			36,990			5,478			(7	)		—			48,200
Intersegment sales		7,862			1,497			449			37			(9,845	)		—
Excise taxes		—			(4,900	)		—			—			—			(4,900	)

Revenues from sales		13,601			33,587			5,927			30			(9,845	)		43,300
Operating expenses		(5,679	)		(31,095	)		(5,491	)		(180	)		9,845			(32,600	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(958	)		(291	)		(128	)		(7	)		—			(1,384	)

Operating income		6,964			2,201			308			(157	)		—			9,316
Equity in income (loss) of affiliates and other items		439			20			(11	)		133			—			581
Tax on net operating income		(4,304	)		(651	)		(88	)		78			—			(4,965	)

Net operating income		3,099			1,570			209			54			—			4,932
Net cost of net debt																	(57	)
Minority interests																	(143	)

Net income																	4,732


*2^nd quarter 2008 (adjustments) ()**
(M€)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		1,457			230			—				1,687
Depreciation, depletion, and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income ^(a)		—		1,457			230			—				1,687
Equity in income (loss) of affiliates and other items ^(b)		—		(10	)		(22	)		(96	)			(128	)
Tax on net operating income		—		(464	)		(69	)		—				(533	)

Net operating income ^(a)		—		983			139			(96	)			1,026
Net cost of net debt														—
Minority interests														(17	)

Net income														1,009


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

(a) Of which inventory valuation effect

On operating income

—

1,457

230

—

On net operating income

—

1,018

153

—

(b) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger

—

(78)


2^nd quarter 2008 (adjusted)
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,739			36,990			5,478			(7	)		—			48,200
Intersegment sales		7,862			1,497			449			37			(9,845	)		—
Excise taxes		—			(4,900	)		—			—			—			(4,900	)

Revenues from sales		13,601			33,587			5,927			30			(9,845	)		43,300
Operating expenses		(5,679	)		(32,552	)		(5,721	)		(180	)		9,845			(34,287	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(958	)		(291	)		(128	)		(7	)		—			(1,384	)

Adjusted operating income		6,964			744			78			(157	)		—			7,629
Equity in income (loss) of affiliates and other items		439			30			11			229			—			709
Tax on net operating income		(4,304	)		(187	)		(19	)		78			—			(4,432	)

Adjusted net operating income		3,099			587			70			150			—			3,906
Net cost of net debt																	(57	)
Minority interests																	(126	)

Ajusted net income																	3,723


2^nd quarter 2008
(M€)	Upstream		Downstream			Chemicals		Corporate			Intercompany	Total

Total expenditures		2,076		514			221		57				2,868
Total divestments		565		128			12		21				726
Cash flow from operating activities		3,643		(1,391	)		169		(499	)			1,922

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


3^rd quarter 2007
(M€)	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																	3,121


*3^rd quarter 2007 (adjustments) ()**
(M€)	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 ^(a)		—		221			(11	)		—				210
Equity in income (loss) of affiliates and other items ^(b)		—		(34	)		(1	)		(2	)			(37	)
Tax on net operating income		—		(57	)		3			—				(54	)

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

Net income														117


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

(a) Of which inventory valuation effect

On operating income

—

221

(11)

—

On net operating income

—

150

(9)

—

(b) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger

—

(77)


3^rd quarter 2007 (adjusted)
(M€)	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	)

Adjusted 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	)

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

Ajusted net income																		3,004

3^rd quarter 2007
(M€)	Upstream			Downstream				Chemicals			Corporate			Intercompany			Total

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

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


9 months 2008
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		17,331			107,778			16,138			15			—			141,262
Intersegment sales		21,035			4,764			1,045			105			(26,949	)		—
Excise taxes		—			(14,636	)		—			—			—			(14,636	)

Revenues from sales		38,366			97,906			17,183			120			(26,949	)		126,626
Operating expenses		(15,727	)		(93,790	)		(16,097	)		(482	)		26,949			(99,147	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(2,727	)		(874	)		(383	)		(23	)		—			(4,007	)

Operating income		19,912			3,242			703			(385	)		—			23,472
Equity in income (loss) of affiliates and other items		1,101			101			27			560			—			1,789
Tax on net operating income		(12,362	)		(950	)		(198	)		207			—			(13,303	)

Net operating income		8,651			2,393			532			382			—			11,958
Net cost of net debt																	(229	)
Minority interests																	(345	)

Net income																	11,384


*9 months 2008 (adjustments) ()**
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales Intersegment sales Excise taxes

Revenues from sales
Operating expenses		—			785			84			—				869
Depreciation, depletion, and amortization of tangible assets and mineral interests		—			—			—			—				—

Operating income ^(a)		—			785			84			—				869
Equity in income (loss) of affiliates and other items ^(b)		(78	)		48			(23	)		(206	)			(259	)
Tax on net operating income		—			(239	)		(20	)		(2	)			(261	)

Net operating income ^(a)		(78	)		594			41			(208	)			349
Net cost of net debt															—
Minority interests															(12	)

Net income															337


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


(a) Of which inventory valuation effect
On operating income	—	785	84	—
On net operating income	—	633	55	—
(b) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger	—	—	—	(227)


9 months 2008 (adjusted)
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		17,331			107,778			16,138			15			—			141,262
Intersegment sales		21,035			4,764			1,045			105			(26,949	)		—
Excise taxes		—			(14,636	)		—			—			—			(14,636	)

Revenues from sales		38,366			97,906			17,183			120			(26,949	)		126,626
Operating expenses		(15,727	)		(94,575	)		(16,181	)		(482	)		26,949			(100,016	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(2,727	)		(874	)		(383	)		(23	)		—			(4,007	)

Adjusted operating income		19,912			2,457			619			(385	)		—			22,603
Equity in income (loss) of affiliates and other items		1,179			53			50			766			—			2,048
Tax on net operating income		(12,362	)		(711	)		(178	)		209			—			(13,042	)

Adjusted net operating income		8,729			1,799			491			590			—			11,609
Net cost of net debt																	(229	)
Minority interests																	(333	)

Ajusted net income																	11,047

9 months 2008
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Total expenditures		6,734			1,446			597			105						8,882
Total divestments		860			198			33			551						1,642
Cash flow from operating activities		11,626			2,508			(19	)		461						14,576

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


9 months 2007
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		13,833			86,793			14,921			20			—			115,567
Intersegment sales		15,269			3,568			827			125			(19,789	)		—
Excise taxes		—			(16,440	)		—			—			—			(16,440	)

Revenues from sales		29,102			73,921			15,748			145			(19,789	)		99,127
Operating expenses		(12,717	)		(69,551	)		(14,193	)		(457	)		19,789			(77,129	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(2,709	)		(876	)		(367	)		(23	)		—			(3,975	)

Operating income		13,676			3,494			1,188			(335	)		—			18,023
Equity in income (loss) of affiliates and other items		976			202			43			536			—			1,757
Tax on net operating income		(8,372	)		(1,063	)		(371	)		95			—			(9,711	)

Net operating income		6,280			2,633			860			296			—			10,069
Net cost of net debt																	(233	)
Minority interests																	(255	)

Net income																	9,581


*9 months 2007 (adjustments) ()**
(M€)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		951			152			—				1,103
Depreciation, depletion, and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income ^(a)		—		951			152			—				1,103
Equity in income (loss) of affiliates and other items ^(b)		—		(10	)		(1	)		(250	)			(261	)
Tax on net operating income		—		(297	)		(51	)		—				(348	)

Net operating income ^(a)		—		644			100			(250	)			494
Net cost of net debt														—
Minority interests														(9	)

Net income														485


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

(a) Of which inventory valuation effect

On operating income

—

951

152

—

On net operating income

—

664

100

—

b) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger

—

(225)


9 months 2007 (adjusted)
(M€)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		13,833			86,793			14,921			20			—			115,567
Intersegment sales		15,269			3,568			827			125			(19,789	)		—
Excise taxes		—			(16,440	)		—			—			—			(16,440	)

Revenues from sales		29,102			73,921			15,748			145			(19,789	)		99,127
Operating expenses		(12,717	)		(70,502	)		(14,345	)		(457	)		19,789			(78,232	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(2,709	)		(876	)		(367	)		(23	)		—			(3,975	)

Adjusted operating income		13,676			2,543			1,036			(335	)		—			16,920
Equity in income (loss) of affiliates and other items		976			212			44			786			—			2,018
Tax on net operating income		(8,372	)		(766	)		(320	)		95			—			(9,363	)

Adjusted net operating income		6,280			1,989			760			546			—			9,575
Net cost of net debt																	(233	)
Minority interests																	(246	)

Ajusted net income																	9,096


9 months 2007
(M€)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		6,079		1,026		546		43				7,694
Total divestments		427		77		63		8				575
Cash flow from operating activities		9,344		3,776		578		(172	)			13,526

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


3^rd quarter 2007
(en millions d’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																	3,121


3^rd quarter 2007 (adjustments) (*)
(en millions d’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														117


(*) Les éléments d’ajustement incluent les éléments non récurrents, l’effet de stock et la quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis

(1) Dont effet stock
Sur le résultat opérationnel	—	221	(11	)	—
Sur le résultat opérationnel net	—	150	(9	)	—
(2) Dont quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis	—	—	—		(77	)


3^rd quarter 2007 (adjusted)
(en millions d’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	)

Adjusted 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	)

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

Ajusted net income																	3,004


3^rd quarter 2007
(en millions d’euros)	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total

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

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


1st half 2007
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		9,690			56,363			10,065			19			—			76,137
Intersegment sales		9,816			2,444			501			67			(12,828	)		—
Excise taxes		—			(10,961	)		—			—			—			(10,961	)

Revenues from sales		19,506			47,846			10,566			86			(12,828	)		65,176
Operating expenses		(8,872	)		(44,551	)		(9,467	)		(292	)		12,828			(50,354	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(1,819	)		(588	)		(243	)		(15	)		—			(2,665	)

Operating income		8,815			2,707			856			(221	)		—			12,157
Equity in income (loss) of affiliates and other items		667			126			37			274			—			1,104
Tax on net operating income		(5,429	)		(856	)		(271	)		83			—			(6,473	)

Net operating income		4,053			1,977			622			136			—			6,788
Net cost of net debt																	(155	)
Minority interests																	(173	)

Net income																	6,460


*1st half 2007 (adjustments) ()**
(en millions d’euros)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales														—
Operating expenses		—		730			163			—				893
Depreciation, depletion, and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income (1)		—		730			163			—				893
Equity in income (loss) of affiliates and other items (2)		—		24			—			(248	)			(224	)
Tax on net operating income		—		(240	)		(54	)		—				(294	)

Net operating income (1)		—		514			109			(248	)			375
Net cost of net debt														—
Minority interests														(7	)

Net income														368

(*) Les éléments d’ajustement incluent les éléments non récurrents, l’effet de stock et la quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis

(1) Dont effet stock
—		—		730			163			—
Sur le résultat opérationnel net		—		514			109			—
(2) Dont quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis		—		—			—			(148	)


1st half 2007 (adjusted)
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		9,690			56,363			10,065			19			—			76,137
Intersegment sales		9,816			2,444			501			67			(12,828	)		—
Excise taxes		—			(10,961	)		—			—			—			(10,961	)

Revenues from sales		19,506			47,846			10,566			86			(12,828	)		65,176
Operating expenses		(8,872	)		(45,281	)		(9,630	)		(292	)		12,828			(51,247	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(1,819	)		(588	)		(243	)		(15	)		—			(2,665	)

Adjusted operating income		8,815			1,977			693			(221	)		—			11,264
Equity in income (loss) of affiliates and other items		667			102			37			522			—			1,328
Tax on net operating income		(5,429	)		(616	)		(217	)		83			—			(6,179	)

Adjusted net operating income		4,053			1,463			513			384			—			6,413
Net cost of net debt																	(155	)
Minority interests																	(166	)

Ajusted net income																	6,092


1st half 2007
(en millions d’euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		4,098		645		346		15				5,104
Total divestments		364		50		48		4				466
Cash flow from operating activities		7,647		3,337		361		(1,368	)			9,977

BUSINESS SEGMENT INFORMATION

TOTAL

(unaudited)


2nd quarter 2007
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,456			29,562			5,070			6			—			39,094
Intersegment sales		5,073			1,201			269			25			(6,568	)		—
Excise taxes		—			(5,595	)		—			—			—			(5,595	)

Revenues from sales		9,529			25,168			5,339			31			(6,568	)		33,499
Operating expenses		(4,148	)		(23,244	)		(4,812	)		(143	)		6,568			(25,779	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(941	)		(297	)		(119	)		(8	)		—			(1,365	)

Operating income		4,440			1,627			408			(120	)		—			6,355
Equity in income (loss) of affiliates and other items		397			72			14			59			—			542
Tax on net operating income		(2,745	)		(519	)		(123	)		51			—			(3,336	)

Net operating income		2,092			1,180			299			(10	)		—			3,561
Net cost of net debt																	(66	)
Minority interests																	(84	)

Net income																	3,411


*2nd quarter 2007 (adjustments) ()**
(en millions d’euros)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		623			96			—				719
Depreciation, depletion, and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income (1)		—		623			96			—				719
Equity in income (loss) of affiliates and other items (2)		—		6			1			(172	)			(165	)
Tax on net operating income		—		(204	)		(32	)		—				(236	)

Net operating income (1)		—		425			65			(172	)			318
Net cost of net debt														—
Minority interests														(7	)

Net income														311


(*) Les éléments d’ajustement incluent les éléments non récurrents, l’effet de stock et la quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis

(1) Dont effet stock
Sur le résultat opérationnel		—		623			96			—
Sur le résultat opérationnel net		—		425			65			—
(2) Dont quote-part des amortissements des immobilisations incorporelles		—		—			—			(72	)
liés à la fusion Sanofi-Aventis


2nd quarter 2007 (adjusted)
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		4,456			29,562			5,070			6			—			39,094
Intersegment sales		5,073			1,201			269			25			(6,568	)		—
Excise taxes		—			(5,595	)		—			—			—			(5,595	)

Revenues from sales		9,529			25,168			5,339			31			(6,568	)		33,499
Operating expenses		(4,148	)		(23,867	)		(4,908	)		(143	)		6,568			(26,498	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(941	)		(297	)		(119	)		(8	)		—			(1,365	)

Adjusted operating income		4,440			1,004			312			(120	)		—			5,636
Equity in income (loss) of affiliates and other items		397			66			13			231			—			707
Tax on net operating income		(2,745	)		(315	)		(91	)		51			—			(3,100	)

Adjusted net operating income		2,092			755			234			162			—			3,243
Net cost of net debt																	(66	)
Minority interests																	(77	)

Ajusted net income																	3,100


2nd quarter 2007
(en millions d’euros)	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total

Total expenditures		2,109		401		173		7				2,690
Total divestments		191		28		1		2				222
Cash flow from operating activities		3,312		1,432		254		(1,409	)			3,589

INFORMATIONS PAR SECTEUR D’ACTIVITE

TOTAL

(unaudited)


1st quarter 2007
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,234			26,801			4,995			13			—			37,043
Intersegment sales		4,743			1,243			232			42			(6,260	)		—
Excise taxes		—			(5,366	)		—			—			—			(5,366	)

Revenues from sales		9,977			22,678			5,227			55			(6,260	)		31,677
Operating expenses		(4,724	)		(21,307	)		(4,655	)		(149	)		6,260			(24,575	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(878	)		(291	)		(124	)		(7	)		—			(1,300	)

Operating income		4,375			1,080			448			(101	)		—			5,802
Equity in income (loss) of affiliates and other items		270			54			23			215			—			562
Tax on net operating income		(2,684	)		(337	)		(148	)		32			—			(3,137	)

Net operating income		1,961			797			323			146			—			3,227
Net cost of net debt																	(89	)
Minority interests																	(89	)

Net income																	3,049


*1st quarter 2007 (adjustments) ()**
(en millions d’euros)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total

Non-Group sales
Intersegment sales
Excise taxes

Revenues from sales
Operating expenses		—		107			67			—				174
Depreciation, depletion, and amortization of tangible assets and mineral interests		—		—			—			—				—

Operating income (1)		—		107			67			—				174
Equity in income (loss) of affiliates and other items (2)		—		18			(1	)		(76	)			(59	)
Tax on net operating income		—		(36	)		(22	)		—				(58	)

Net operating income (1)		—		89			44			(76	)			57
Net cost of net debt														—
Minority interests														—

Net income														57


(*) Les éléments d’ajustement incluent les éléments non récurrents, l’effet de stock et la quote-part des amortissements des immobilisations incorporelles liés à la fusion Sanofi-Aventis

(1) Dont effet stock
Sur le résultat opérationnel	—	107	67	—
Sur le résultat opérationnel net	—	89	44	—
(2) Dont quote-part des amortissements des immobilisations incorporelles	—	—	—	(76	)
liés à la fusion Sanofi-Aventis


1st quarter 2007 (adjusted)
(en millions d’euros)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total

Non-Group sales		5,234			26,801			4,995			13			—			37,043
Intersegment sales		4,743			1,243			232			42			(6,260	)		—
Excise taxes		—			(5,366	)		—			—			—			(5,366	)

Revenues from sales		9,977			22,678			5,227			55			(6,260	)		31,677
Operating expenses		(4,724	)		(21,414	)		(4,722	)		(149	)		6,260			(24,749	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(878	)		(291	)		(124	)		(7	)		—			(1,300	)

Adjusted operating income		4,375			973			381			(101	)		—			5,628
Equity in income (loss) of affiliates and other items		270			36			24			291			—			621
Tax on net operating income		(2,684	)		(301	)		(126	)		32			—			(3,079	)

Adjusted net operating income		1,961			708			279			222			—			3,170
Net cost of net debt																	(89	)
Minority interests																	(89	)

Ajusted net income																	2,992


1st quarter 2007
(en millions d’euros)	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total

Total expenditures		1,989		244		173		8			2,414
Total divestments		173		22		47		2			244
Cash flow from operating activities		4,335		1,905		107		41			6,388

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)

TOTAL

(unaudited)


9 months 2008							Consolidated
(M€)	Ajusted			Adjustments			statement of income

Sales		141,262			—			141,262
Excise taxes		(14,636	)		—			(14,636	)
Revenues from sales		126,626			—			126,626

Purchases, net of inventory variation		(85,500	)		869			(84,631	)
Other operating expenses		(13,979	)		—			(13,979	)
Exploration costs		(537	)		—			(537	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(4,007	)		—			(4,007	)
Other income		76			199			275
Other expense		(129	)		(302	)		(431	)

Financial interest on debt		(702	)		—			(702	)
Financial income from marketable securities and cash equivalents		356			—			356
Cost of net debt		(346	)		—			(346	)
Other financial income		485			—			485
Other financial expense		(230	)		—			(230	)

Income taxes		(12,925	)		(261	)		(13,186	)

Equity in income (loss) of affiliates		1,846			(156	)		1,690

Consolidated net income		11,380			349			11,729
Group share		11,047			337			11,384
Minority interests		333			12			345


9 months 2007							Consolidated
(M€)	Ajusted			Adjustments			statement of income

Sales		115,567			—			115,567
Excise taxes		(16,440	)		—			(16,440	)
Revenues from sales		99,127			—			99,127

Purchases, net of inventory variation		(64,777	)		1,103			(63,674	)
Other operating expenses		(12,851	)		—			(12,851	)
Exploration costs		(604	)		—			(604	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(3,975	)		—			(3,975	)
Other income		279			—			279
Other expense		(100	)		(130	)		(230	)

Financial interest on debt		(1,332	)		—			(1,332	)
Financial income from marketable securities and cash equivalents		955			—			955
Cost of net debt		(377	)		—			(377	)
Other financial income		492			—			492
Other financial expense		(211	)		—			(211	)

Income taxes		(9,219	)		(348	)		(9,567	)

Equity in income (loss) of affiliates		1,558			(131	)		1,427

Consolidated net income		9,342			494			9,836
Group share		9,096			485			9,581
Minority interests		246			9			255

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)

TOTAL

(unaudited)


3^rd quarter 2008							Consolidated
(M€)	Ajusted			Adjustments			statement of income

Sales		48,849			—			48,849
Excise taxes		(4,810	)		—			(4,810	)
Revenues from sales		44,039			—			44,039

Purchases, net of inventory variation		(29,861	)		(1,193	)		(31,054	)
Other operating expenses		(4,708	)		—			(4,708	)
Exploration costs		(144	)		—			(144	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(1,329	)		—			(1,329	)
Other income		55			52			107
Other expense		(55	)		(207	)		(262	)

Financial interest on debt		(241	)		—			(241	)
Financial income from marketable securities and cash equivalents		114			—			114
Cost of net debt		(127	)		—			(127	)
Other financial income		140			—			140
Other financial expense		(79	)		—			(79	)

Income taxes		(4,429	)		391			(4,038	)

Equity in income (loss) of affiliates		681			(75	)		606

Consolidated net income		4,183			(1,032	)		3,151
Group share		4,070			(1,020	)		3,050
Minority interests		113			(12	)		101


3^rd quarter 2007							Consolidated
(M€)	Ajusted			Adjustments			statement of income

Sales		39,430			—			39,430
Excise taxes		(5,479	)		—			(5,479	)
Revenues from sales		33,951			—			33,951

Purchases, net of inventory variation		(22,790	)		210			(22,580	)
Other operating expenses		(4,060	)		—			(4,060	)
Exploration costs		(135	)		—			(135	)
Depreciation, depletion, and amortization of tangible assets and mineral interests		(1,310	)		—			(1,310	)
Other income		123			—			123
Other expense		(34	)		(30	)		(64	)

Financial interest on debt		(455	)		—			(455	)
Financial income from marketable securities and cash equivalents		324			—			324
Cost of net debt		(131	)		—			(131	)
Other financial income		155			—			155
Other financial expense		(70	)		—			(70	)

Income taxes		(3,131	)		(54	)		(3,185	)

Equity in income (loss) of affiliates		516			(7	)		509

Consolidated net income		3,084			119			3,203
Group share		3,004			117			3,121
Minority interests		80			2			82

EX-99.7 8 u02053exhibit99w7.htm EX 99.7: 3RD QUARTER 2008 RESULTS OF TOTAL GABON exhibit99w7

Société anonyme incorporated in Gabon with a Board of Directors and share capital of $76,500,000

Headquarters: Boulevard Hourq, Port Gentil, BP 525, Gabonese Republic
www.total-gabon.com
Registered in Port-Gentil: 2000 B 00011

Press Release

Exhibit 99.7

Third Quarter 2008 Financial Results

Port-Gentil — November 13, 2008

Main Financial Indicators


									Q3 08							9M 08
									vs.							vs.
			Q3 08		Q2 08		Q3 07		Q3 07			9M 08		9M 07		9M 07

Average Brent price	$	/b		115.1		121.2		74.7		+54	%		111.1		67.1		+66	%

Average Total Gabon crude price	$	/b		104.2		111.5		70.1		+49	%		103.0		61.8		+67	%

Crude oil production from fields operated by Total Gabon	kb/d			79.4		78.8		83.0		-4.3	%		78.0		82.1		-5.0	%

Crude oil production from Total Gabon interests¹	kb/d			62.7		61.8		65.4		-4.1	%		61.2		64.7		-5.4	%

Sales	$	M		481		649		333		+44	%		1,528		1,039		+47	%

Funds generated from operations	$	M		228		261		120		+90	%		641		376		+70	%

Capital expenditure	$	M		151		129		110		+37	%		390		232		+68	%

Net income	$	M		138		140		76		+82	%		389		260		+50	%


¹		Including the oil tax reverting to the Republic as per the profit sharing contracts.

Third Quarter 2008 Highlights

Board of Directors Meeting on August 29, 2008

Chaired by Jean Privey, the Board of Directors met on August 29 and reviewed the financial accounts for first-half 2008.

The Interim Financial Report at June 30, 2008 was published on August 29.

The Board also appointed three new directors:

§		Jacques Marraud des Grottes, replacing Jean Privey.

§		Jean-Philippe Magnan, replacing Jean Bié.

§		Patrick de La Chevardière, replacing Robert Castaigne.

The Board then appointed Jacques Marraud des Grottes as Chairman of the Board effective August 29 and Jean-Philippe Magnan as Chief Executive Officer of Total Gabon effective August 31.

Operated Activities

Aloumbé License: Continued Drilling of the Aloumbé Deep Exploration Well

Drilling of the Aloumbé deep exploration well ALP-001 began on April 29 and was completed in early November. Tests and stimulation are expected to begin in mid-December. The main purpose of the well is to assess the productivity of this gas tight sands, low permeability and high-pressure reservoir.

Anguille Field Redevelopment: Continued Drilling and Fracturing Operations

Three wells were drilled and six hydraulic fracturing operations were carried out in the third quarter. Phase 1 redevelopment will continue in 2009 with drilling and fracturing operations.

FEED for Phase 2 redevelopment is advancing and is expected to be completed in 2009.

On August 12, 2008 the Gabonese Republic’s Directorate-General of Hydrocarbons was asked to approve the award of land along the coast south of Port-Gentil to be used as the future site for an onshore processing center.

Other Operated Activities

Field models for Anguille Nord-Est, Hylia, Torpille, Gonelle (Mandji oil fields), and Atora (Rabi oil field) continued to be upgraded.

Development well TRM-028 on the Torpille Marine field was brought on stream on September 2; drilling had begun on June 6. Development well MSSM-3 on the Mérou-Sardine field was brought on stream on October 18; drilling had begun on August 25.

Non-Operated Activities (Shell Gabon-operated Rabi-Kounga field)

Production facilities were shut down for a day and a half in August 2008 for scheduled maintenance work.

External Financing

The amount of drawdowns under the $600-million financing agreement signed on April 9, 2008 with a syndicate of international banks totaled $107 million at September 30, 2008.

There were no drawdowns in the third quarter 2008.

Brent Price and Euro/Dollar Exchange Rate

After peaking at nearly $150 per barrel in mid-July, the Brent price fell sharply, averaging $115.1 in the third quarter. The decline picked up speed in October, when Brent averaged $71.9 per barrel. This in turn affects the selling price of the crude oil grades marketed by Total Gabon, which averaged $66.3 per barrel in October, and has a negative impact on the Company’s results.

After falling to a historic low of €0.62 in mid-July, the U.S. dollar rose significantly against the euro, averaging €0.75 in October. The nine month and third quarter averages were each €0.66. Operating expenses decline when the dollar appreciates against the euro, since they are mainly denominated in euros or CFA francs. This helps to offset the adverse impact of lower selling prices on the Company’s results.

Third Quarter 2008 and Nine Month Results

Selling Price

The selling price of the Mandji and Rabi Light crude oil grades marketed by Total Gabon averaged $104.2 per barrel in the third quarter of 2008, up 49% from $70.1 in the third quarter 2007 and down 6.5% from $111.5 in the second quarter 2008.

For the first nine months of 2008 the selling price averaged $103.0 per barrel compared with $61.8 in the first nine months of 2007, an increase of 67% in line with Brent price trends over the period.

Production

Total Gabon’s equity share¹ of operated and non-operated oil produced averaged 62,700 barrels per day in the third quarter. The 4.1% decrease from the 65,400 barrels per day reported in third quarter 2007 can be attributed to:

•		Mandatory maintenance shutdowns on Torpille Marine, Grondin Marine and Ile Mandji and well workovers on Anguille Marine.

•		The Shell Gabon-operated Rabi-Kounga field, where production facilities were shut down for a day and a half for maintenance in August.

Total Gabon’s equity share¹ of operated and non-operated oil produced averaged 61,200 barrels per day in the first nine months. The 5.4% decrease from the 64,700 barrels per day reported in the first nine months of 2007 can be attributed to:

	•		Naturally declining output from certain fields, which was not fully offset by new wells.

	•		More important shutdowns of Total Gabon-operated production, mainly due to:

	§		Maintenance on Torpille Marine, Grondin Marine and Ile Mandji in January 2008.

	§		Workovers on the Anguille field wells in the third quarter.

	§		Workovers and the shutdown of a producing well on the Mboumba field during drilling of the Aloumbé deep well.

•

More important scheduled and unscheduled shutdowns of non-operated production (Shell Gabon-operated Rabi-Kounga field), mainly due to:

	§		A day-and-a-half-long maintenance shutdown in August.

	§		Technical problems experienced with Rabi-Kounga field operations.

	§		The impact of the strike by Shell Gabon personnel, which shut in the facilities between March 20 and April 1 of this year, causing a loss of production of 212,000 barrels for Total Gabon.


¹		Including the oil tax reverting to the Republic as per the profit sharing contracts.

Sales

Third-quarter sales amounted to $481 million, up 44% from $333 million in the third quarter of 2007, in line with the increase in the average selling price of the crude oils marketed. Sales were down 26% from the second quarter under the combined effect of smaller volumes marketed and lower selling prices from mid-July.

Sales in the first nine months of the year amounted to $1,528 billion, up 47% from $1,039 billion in the first nine

months of 2007. The positive impact of higher selling prices was partly offset by a roughly 10% decline in the amount of oil sold compared with the prior-year period.

Net Income

Third quarter net income rose 82% to $138 million from $76 million in the third quarter 2007, reflecting higher sales and the impact of non recurring expenditures items in third quarter 2007.
Sales in the first nine months of the year amounted to $389 million, up 50% from $260 million in the first nine months of 2007.

Capital Expenditure

Capital expenditure totaled $151 million in third quarter 2008 and $390 million for the first nine months of the year, up from $110 million and $232 million respectively in third quarter 2007 and the first nine months of 2007. Capital expenditure mainly consisted of continued Phase 1 redevelopment of the Anguille field and work on the Torpille, Rabi and Mérou-Sardine fields.

Funds Generated from Operations

In the light of the above, funds generated from operations stood at $641 million at September 30, an increase of 70% over the prior-year period.


Media Contacts: Lisa Wyler		+ 33 (0)1 47 44 38 16
Kevin Church		+ 33 (0)1 47 44 70 62

EX-99.8 9 u02053exhibit99w8.htm EX 99.8: NEW FRENCH SME IN CHINA exhibit99w8

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

EXHIBIT 99.8

News Release

Communiqué de Pressee

Total Serves the Development of a New French SME in China
through Its Local Business Support Program

Paris, November 14: Today in Shanghai, Total joins the French Chamber of Commerce and Industry in China (CCIFC) in announcing the winner of the 2008 Excellence Award for SMEs in China (Prix PME-Chine). The award recognizes the boldness, professionalism and perseverance of a French SME that has successfully launched a sustainable business in the country.

Total is sponsoring the event and will host a VIE* co-op placement participant or an intern to support a development project. This is just one of several methods that Total has adopted to help drive economic growth in its host regions.

In China, Total has already hosted 24 VIE co-op placement participants and 16 interns from French SMEs. Similarly, Total also offers support to Chinese SMEs planning to set up business in France.

These initiatives are the backbone of the local business support program that Total created to help SMEs start up or expand in its host countries or regions. Since the creation of the program 30 years ago, Total has helped more than 3,000 SMEs worldwide by providing them with technological, financial and international development assistance. Today, in addition to initiatives in France, the local business support program actively backs SMEs in Angola, Belgium, Cambodia and the Congo, and has projects underway in Yemen, Syria, Germany and Italy.


*		Volunteer for International Experience

*******

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry – exploration and production of oil and natural gas, refining and marketing, gas & power and trading. 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-99.9 10 u02053exhibit99w9.htm EX 99.9: EXPLORATION AND NEW DEVELOPMENT, THAILAND exhibit99w9

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

EXHIBIT 99.9

News Releasee

Communiqué de Pressee

Exploration Success & New Development in Thailand

Paris, November 14, 2008 - Total announces today that three successful exploration wells have been drilled in Thailand and that a new phase of development of the Bongkot North Field has been launched.

Three exploration wells, Ton Sak 7, Ton Sak 8 and Ton Son 2, have been drilled on the Bongkot offshore concession in the Gulf of Thailand, all of which discovered commercial quantities of gas and condensates.

Two of these discoveries, Ton Sak 7 and Ton Sak 8 have been sanctioned for development. The Greater Bongkot North field currently produces around 600 million cubic feet per day of gas and 20,000 barrels per day of condensates from 20 wellhead platforms and a central complex. Two additional wellhead platforms are currently being constructed and should go into production in 2009. The newly sanctioned phase will add a further 3 wellhead platforms, bringing the total number to 25.

This new phase of development will enter into production in 2010 and extend the plateau well into the next decade. The third discovery, Ton Son 2, will be included in a subsequent development phase.

Bongkot has been in production since 1993, it is operated by PTT Exploration and Production Plc. (PTTEP), with 44.45% interest. The remaining stakes are owned by Total (33.33%) and BG Asia Pacific Pte. Limited (22.22%).

Total’s upstream in Thailand

The Group’s primary asset in Thailand is the Bongkot gas and condensates field (33.33%) where its share of production reached 41,000 barrels of oil equivalent per day in 2007.

Total is also active in power and cogeneration in Thailand and owns 28 % of Easter Power and Electric Company Ltd (EPEC) which has been operating the combined cycle gas power plant of Bang Bo, with a capacity of 350 MW, since 2003.

TOTAL
2, place Jean Millier
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

Paul FLOREN
Tel. : + 33 (0) 1 47 44 45 91

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

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

Michaël CROCHET-VOUREY
Tel. : + 33 (0) 1 47 44 81 33

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

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

Alain LIGAIRE
Tél. : +33(0)1 47 44 81 48

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

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

TOTAL S.A.
Capital 5 926 006 207,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Exploration & Production in the Asia-Pacific Region

At 252,000 barrels of oil equivalent per day, the Asia-Pacific region accounted for 11% of the Group’s total production in 2007. Total is primarily active in Indonesia, where it has operated the Mahakam block with partner Inpex since 1970 and is one of the country’s leading producers of liquefied natural gas.

The Group recently strengthened and diversified its acreage by taking new permits in Australia, Indonesia, Bangladesh, Vietnam and Malaysia. It also acquired a 24% stake in Australia’s Ichthys LNG project, in partnership with Inpex, and signed a contract with China National Petroleum Corporation to appraise, develop and produce natural gas resources in the South Sulige block in China.

*******

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