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Total, a successful long-term strategy

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  1. Introduction.
  2. 1924 to 2007: From a traditional French 'national champion' to a global giant.
  3. An integrated strategy.
  4. Today's strategy: Focused on Canadian oilsands.
  5. Total E&P Canada, a fast-growing subsidiary.
  6. Total competitive advantages in Canada.
  7. Conclusion.
  8. Sources.

Total is today the fourth largest oil and gas company in the world. This Paris-based firm is the largest European company (based on market capitalization in 2006), it has over 95 000 employees in more than 130 countries and a net income of € 12.5 billion in 2006. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing as well as international crude oil and product trading. Total is also a large-scale chemicals manufacturer. The group has a production of more than 2.1 million barrels of oil per day, in 30 different countries. In a context of global concern about natural resources, the Group's assertive commitment to sustainable development ? highlighted by its slogan ?Our energy is your energy ? - reflects the needs of both existing and future generations of consumers.

[...] Poincaré asked Ernest Mercier, a graduate of the famous and elitist École Polytechnique, expert in the electric industry, to create a company to "develop oil production under French control". The new company would manage the share in the Iraq Petroleum Company awarded to France as compensation for damages caused by Germany during World War I. Following that request, the Compagnie Française des Pétroles (CFP) was officially created on March The French state was a major stakeholder but Mercier also used his private networks to get the support of 90 Parisian banks. [...]


[...] In Canada, it appears therefore as a safe and reliable operator which assesses risks relative to health, safety and quality. Total is carrying on transparent policies as its numerous sustainability reports prove it to achieve a position of sustainable development in the oilsands. It is especially improving efficiency of operations reduced water and energy use - to minimize environmental effects and maintain biodiversity. Conclusion Total's competitive advantages - that is to say its experience in the business, its technological edge as well as its commitment to achieve sustainability and take socio-economic considerations into account are deeply linked with the company's history, its successes and mistakes and the long-term views of its executives. [...]


[...] Oil production was launched one year later and rose from 260 barrels a day in 2006 to 6000 barrels a day in May 2007. Total's goal is to reach a daily production of barrels by 2015. Total E&P Canada is also growing qualitatively. Borell has recently decided to launch an upgrader to process oilsand outputs because ?much of the value remains in bitumen after production?. Bitumen produced from oilsands indeed require intermediate processing in the form of ?upgrading? to be turned into suitable refinery feedstock. [...]

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