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French utility EDF plans cost cuts, more asset sales

30 Jul 2020

PARIS French utility EDF plans to cut operating costs by 500 million euros up to 2022 and aims to generate 3 billion from asset sales after reporting a fall in net profit in the first half of 2020 due to the coronavirus outbreak.

Total net profits dive 96% but less than feared, keeps dividend

30 Jul 2020

PARIS French energy major Total reported a 96% fall in second-quarter net profit to $126 million (97.09 million pounds), exceeding expectations for a sharp loss, and said it would maintain its dividend.

France's Total writes down $8 billion on weaker oil, gas outlook

29 Jul 2020

PARIS/LONDON France's Total said on Wednesday it will take an $8 billon impairment on the value of its assets, mainly in energy-intensive Canadian oil sands projects after the energy group slashed its oil and gas price outlook.

Gabon votes to reverse ban on homosexuality

30 Jun 2020

LIBREVILLE Gabon's Senate voted on Monday to decriminalise homosexuality, a landmark result that makes the country one of the few in Africa to reverse a ban on same-sex relationships. | Video

Total reviewing pipeline to Grandpuits oil refinery after leaks

12 Jun 2020

PARIS French energy group Total is conducting an audit of a pipeline that supplies its Grandpuits refinery near Paris following leaks in recent years, a spokesman said on Friday.

Global energy investment expected to tumble 20% in 2020 due to COVID crisis: IEA

27 May 2020

PARIS Global energy investment is expected to plunge by around 20% or $400 billion in 2020, its biggest fall on record, because of the new coronavirus outbreak, the International Energy Agency (IEA) said on Wednesday.

Total muscles into Spanish energy market with EDP asset buy

18 May 2020

PARIS French energy group Total said on Monday it had agreed to buy up a large customer portfolio from Energías de Portugal and two of EDP's gas-fired combined cycle power plants in Spain, making it a leading player in the Iberian market.

France's Total keeps dividend steady in 'exceptional circumstances'

05 May 2020

PARIS French energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall.

France's Total keeps dividend stable after Q1 net income plunge

05 May 2020

PARIS, May 5 French energy major Total's kept its dividend stable despite reporting a sharp fall in first-quarter net adjusted profit hit by a plunge in oil prices and the economic slowdown caused by the new coronavirus outbreak.

Virus outbreak raises spectre of cash injection for indebted EDF

22 Apr 2020

PARIS Plummeting electricity demand and falling power prices during the coronavirus outbreak could leave EDF in need of a capital injection by the end of 2020 to avoid a spiralling debt crisis, a source close to the French firm and analysts said.

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