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2016 EDITION Factbook CONTENTS 2016 EDITION factbook CONTENTS PROFILE 1 Need further information? Log on to www.total.com HIGHLIGHTS 2 You can consult the Factbook online, download it in GROUP REORGANIZATION 4 PDF and the tables are also available in Excel format. CORPORATE 5 Financial Highlights .............................................................................................................7 Market Environment ............................................................................................................7 Operational Highlights by quarter ........................................................................................8 Financial Highlights by quarter .............................................................................................8 Market Environment and Price Realizations .........................................................................8 Consolidated statement of income ....................................................................................10 Consolidated balance sheet ..............................................................................................14 Consolidated statement of changes in shareholders’ equity ..............................................17 Net-debt-to-equity ratio ....................................................................................................18 ROACE by business segment ...........................................................................................19 Consolidated statement of cash flow ................................................................................20 Investments ......................................................................................................................21 Share information ..............................................................................................................23 Payroll ...............................................................................................................................24 UPSTREAM 25 Abbreviations Key operating ratios on proved reserves ...........................................................................28 b: barrel cf: cubic feet Combined liquids and gas production ...............................................................................29 /d: per day Changes in oil, bitumen and gas reserves .........................................................................32 /y: per year €: euro Results of operations for oil and gas producing activities ...................................................46 $ and/or dollar: U.S. dollar Cost incurred ....................................................................................................................48 t: metric ton Capitalized costs related to oil and gas producing activities ..............................................49 boe: barrel of oil equivalent kboe/d: thousand boe/d Standardized measure of discounted future net cash flows ...............................................51 kb/d: thousand barrel/d LNG positions as of December 31, 2016 ..........................................................................58 Btu: British thermal unit M: million Re-gasification terminals as of December 31, 2016 ..........................................................59 B: billion Interests in pipelines ..........................................................................................................62 MW: megawatt MWp: megawatt peak (direct current) TWh: terawatt hour Acreage including maps, main producing assets and acreage by region: AMF: French Financial Markets Authority Europe and Central Asia ...................................................................................................64 API: American Petroleum Institute ERMI: European Refining Margin Indicator. Africa ................................................................................................................................72 ERMI is an indicator intended to represent the margin after variable costs for a hypothetical Middle East and North Africa .............................................................................................78 complex refinery located around Rotterdam in Americas ...........................................................................................................................82 Northern Europe. The indicator margin may not be representative of the actual margins achieved by Asia-Pacific .......................................................................................................................89 TOTAL in any period because of TOTAL’s particular refinery configurations, product mix REFINING & CHEMICALS 95 effects or other company-specific operating conditions. Refinery capacity .............................................................................................................101 FEED: Front-End Engineering and Design FPSO: Floating Production Storage and Offloading Petrochemicals product – main production capacities at year-end ..................................103 IFRS: International Financial Reporting Standards LNG: liquefied natural gas Petrochemicals product – sales by geographic area ........................................................103 LPG: liquefied petroleum gas Specialty chemicals product – sales by geographic area .................................................104 ROE Return on Equity ROACE: Return on Average Capital Employed Specialty chemicals product – sales by activity ...............................................................104 SAGD: Steam Assisted Gravity Drainage SEC: United States Securities and Exchange MARKETING & SERVICES 105 Commission Petroleum product sales (excluding trading and bulk sales) .............................................111 Conversion table Service-stations ..............................................................................................................112 1 boe = 1 barrel of crude oil = approx. 5,404 cf of gas (1) in 2016 1 b/d = approx. 50 t/y New energies ..................................................................................................................113 1 t = approx. 7.5 b (for a gravity of 37° API) 1 Bm3/y = approx. 0.1 Bcf/d 1 m3 = approx. 35.3 cf 1 t of LNG = approx. 48 kcf of gas 1 Mt/y of LNG = approx. 131 Mcf/d (1) This ratio is calculated based on the actual average equivalent energy content of TOTAL’s proved developed and undeveloped natural gas reserves and is subject to change. PROFILE KEY FIGURES FOR 2016 A GLOBAL ENERGY GROUP • increasing the distribution of petroleum products, particularly in high-growth With operations in more than 130 countries, regions, and offering innovative solutions TOTAL is engaged in every sector of the oil and services that meet customers’ and gas industry, including Upstream +4.5% evolving needs above and beyond the (hydrocarbon exploration, development and Upstream production growth supply of petroleum products; and production) and Downstream (refining, Petrochemicals, Specialty Chemicals, • expanding along the full gas value chain Trading and shipping of crude oil and by unlocking access to new markets, and petroleum products and marketing). TOTAL developing profitable low-carbon 34% is also involved in the renewable energies businesses, in particular renewable energies. Downstream ROACE (1) and power generation sectors. This strategy incorporates the challenges of climate change, using as a point of reference STRATEGY the 2°C scenario of the International Energy 8.3 B$ Agency and its impact on energy markets. adjusted net income TOTAL is a leading international oil and gas TOTAL’s challenge is to increase access to company and aims to be the responsible affordable energy to satisfy the needs of a energy major by helping to supply growing population, while providing concrete accessible, affordable and clean energy to solutions to help limit the effects of climate 18 B$ as many people as possible. To accomplish change and supplying its clients with an Capex incl. resource renewal this goal, TOTAL leverages its integrated energy mix featuring a progressively business model, which enables it to capture decreasing carbon intensity. synergies between the different activities of In addition to safety, the values of respect, the Group. To achieve its ambition, TOTAL responsibility and exemplary conduct 2.8 B$ relies upon its operational excellence, underpin TOTAL’s Code of Conduct and Opex savings technological expertise and capacity to accompany priority business principles in the manage complex projects. realms of safety / security / health / environment, 2015-17 asset The Group’s strategy is based on four main integrity (preventing corruption, fraud and sales programme priorities: anti-competitive practices) and human rights. It is through strict adherence to these • driving profitable, sustainable growth in values and principles that TOTAL intends to Exploration & Production’s hydrocarbon 80% build strong and sustainable growth for the activities, with priority given to reducing complete Group and its stakeholders and deliver on its production costs, disciplined investments commitment to better energy. and cash flow generation; (1) Excluding New Energies. • continuing to enhance the competitiveness of major integrated refining and petrochemical platforms; Profile – TOTAL Factbook 2016 1 1 2 3 4 5 6 2016 HIGHLIGHTS JANUARY UNITED KINGDOM – E&P CORPORATE JULY Start-up of production from the Presentation of Total’s new CORPORATE RUSSIA – E&P Laggan and Tormore gas and organization to become the
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