Oil and gas giant, Total is rebranding as TotalEnergies signifying a focus shift towards reneweable energy sources.
TotalEnergies is a broad energy company that produces and markets energies on a global scale which are oil and biofuels, natural gas and green gases, renewables and electricity. It puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the wellbeing of people.
In a statement, Patrick Pouyanne Chief Executive Officer of TotalEnergies said sharehplders approved the the resolution to change the company’s name from Total to TotalEnergies thereby anchoring its strategic transformation into a broad energy company in its identity.
“Energy is life. We all need it and it’s a source of progress. So to contribute to the sustainable development of the planet, we are moving forward, together, towards new energies. Energy is reinventing itself, and our ambition is to be a world class player in the energy transition. That is why Total is transforming and becoming TotalEnergies,” he said.
This new name and visual identity shows the commitment to a broad energy company in producing and providing energies that are ever more affordable, reliable and clean.
Total was founded in 1924 and began to invest more in solar and wind power. This year Total plans to devote more that 20 percent of its investment budget to renewable energy sources as well as electricity.
Pouyanne described the rebrand as historic setting out plans to change the group’s profile by 2030. Oil products are expected to fall from 55% to 30% of sales in that timeframe, while the growth of energy production will be based on the two pillars of LNG and Renewables and Electricity.
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