Total Parco Pakistan
Total Parco Pakistan
Total Parco Pakistan
Total Parco Pakistan
Refining and TransportationThe major business activities include Crude Oil Refining and Transportation, Storage and Marketing of POL Products. With a refining capacity of 100,000 BPD, combined storage capacity of over one million tons, a marketing joint venture with TOTAL (France) and a technical support venture with OMV (Austria); PARCO is the strategic fuel supplier for Pakistan with a broad portfolio of operational ventures. The organization encompasses Pakistan largest refinery and 2000 km of cross country pipeline network, including that of its subsidiary PAPCO. In 2010 set up a Diesel Hydro Desulfurization Unit to ensure that Diesel produced by the refinery meets international Euro-II standards. PARCO also commissioned a Biturox® plant in 2012, which is expected to producing high quality road paving bitumen which is mandated for infrastructure development. Most recently in September 2012, Pak-Arab Refinery completed its first acquisition by acquiring 100% shareholding of SHV Energy Pakistan, which prior to the acquisition was Pakistan's largest LPG marketing company and PARCO's strategic partner since 2001
Compagnie franaise des ptroles CFP 1924-1985
- The company was founded after World War I, when then French Prime Minister Raymond Poincar © rejected the idea of forming a partnership with Royal Dutch Shell in favour of creating an entirely French oil company. At Poincar ©'s behest, Col. Ernest Mercier with the support of ninety banks and companies founded Total on 28 March 1924, as the Compagnie franaise des p©troles (CFP), literally the "French Petroleum Company". Petroleum was seen as vital in the case of a new war with Germany.
- As per the agreement reached during the San Remo conference of 1920, the French state received the 25% share held by Deutsche Bank in the Turkish Petroleum Company (TPC) as part of the compensation for war damages caused by Germany during World War I. The French government's stake in TPC was transferred to CFP, and the Red Line agreement in 1928 rearranged the shareholding of CPF in TPC (later renamed the Iraq Petroleum Company in 1929) to 23.75%. The company from the start was regarded as a private sector company in view of its listing on the Paris Stock Exchange in 1929.
- The company during the 1930s was engaged in exploration and production, primarily from the Middle East. Its first refinery began operating in Normandy in 1933. After World War II, CFP engaged in oil exploration in Venezuela, Canada, and Africa while pursuing energy sources within France. Exploration in Algeria, then a French colony, began in 1946, with Algeria becoming a leading source of oil in the 1950s.
- In 1954, CFP introduced its downstream product Total brand of gasoline in the African continent and Europe.
- In 1980, Total Petroleum (North America) Ltd., a company controlled 50% by CFP, bought the American refining and marketing assets of Vickers Petroleum as part of a sell-off by Esmark of its energy holdings. This purchase gave Total refining capacity, transportation, and a network of 350 service stations in 20 states.
Total CFP and re branding to Total 1985-2003
- The company renamed itself Total CFP in 1985, to build on the popularity of its gasoline brand. Later in 1991, the name was changed to Total, when it became a public company listed on the New York Stock Exchange. The French government, who used to control more than 30 percent of the company's stock in 1991, reduced its stake in the firm to less than 1 percent by 1996 In the time period between 1990 and 1994, foreign ownership of the firm increased from 23 per cent to 44 per cent.
- Meanwhile, Total continued to expand its retail presence in North America under several brand names. In 1989, Denver, Colorado, based Total Petroleum, Total CFP's North American unit, purchased 125 Road Runner retail locations from Texarkana, Texas-based Truman Arnold Companies. By 1993, Total Petroleum was operating 2,600 retail stores under the Vickers, Apco, Road Runner, and Total brands. That year, the company began remodeling and rebranding all of its North American gasoline and convenience stores to use the Total name. Only four years later, Total sold its North American refining and retail operations to Ultramar Diamond Shamrock for $400 million in stock and $414 million in assumed debt.
- After Total's takeover of Petrofina of Belgium in 1999, it became known as Total Fina. Afterwards it also acquired Elf Aquitaine. First named TotalFinaElf after the merger in 2000, it was later renamed back to Total on 6 May 2003. During that rebranding, the current globe logo was unveiled.
- In 2003, Total signed for a 30% stake in the gas exploration venture in the Kingdom of Saudi Arabia (KSA) South Rub' al-Khali joint venture along with Royal Dutch Shell and Saudi Aramco. The stake was later bought out by its partners.
- In May 2006, Saudi Aramco and TOTAL signed a MOU to develop the Jubail Refinery and Petrochemical project in Saudi Arabia which targeted 400,000 barrels per day (bpd). On 21 September 2008, the two companies officially established a joint venture called SAUDI ARAMCO TOTAL Refining and Petrochemical Company (SATORP)- in which a 62.5% stake was held by Saudi Aramco and the balance 37.5% held by TOTAL.
- During the 2009-2010 Iraqi oil services contracts tender, a consortium led by CNPC (37.5%), which also included TOTAL (18.75%) and Petronas (18.75%) was awarded a production contract for the "Halfaya field" in the south of Iraq, which contains an estimated 4.1 billion barrels (650,000,000 m3) of oil.
- As of 2010, Total is one of the world's major oil companies, with over 96,000 employees and operates in more than 130 countries. In September 2010, Total announced plans to pull out of the forecourt market in the United Kingdom.
- In November 2012, Total announced it was selling its 20% stake and operating mandate in its Nigerian offshore project to a unit of China Petrochemical Corp for $2.5 billion. In 2013, Total started the operation at Kashagan with North Caspian Operating Company. It is the biggest discovery of oil reserves since 1968. In 2013, Total increased its stake in Novatek to 16.96%.
- In September 2013, Total and its joint venture partner agreed to buy Chevron Corporation retail distribution business in Pakistan for an undisclosed amount.
- In January 2014, Total became the first major oil and gas firm to acquire exploration rights for shale gas in the UK after it bought a 40 percent interest in two licences in the Gainsborough Trough area of northern England for $48 million. In July 2014, the company disclosed it was in exclusive talks to sell its LPG distribution business in France to Pennsylvania-based UGI Corporation for 450 million ($615 million).
- On 20 October 2014, at 23:57 MST a Dassault Falcon 50 business jet heading to Paris caught fire and exploded during takeoff after colliding with a snow removal vehicle in Vnukovo International Airport, and killing four, including three crew members and CEO of Total S.A. Christophe de Margerie on board. Alcohol presence was confirmed in the blood of the driver of the vehicle on the ground.
- Patrick Pouyanne, who was Total's Refining Chief at that time, was appointed as CEO after Christophe de Margerie died. Patrick Pouyann© was appointed chairman of Total on December 16, 2015, in addition to his role as CEO.
- In February 2015, Total unveiled plans to cut 180 jobs in the United Kingdom, reduce refinery capacity and slow spending on North Sea fields after it fell to a $5.7bn final-quarter loss. The company said it would also sell off $5bn worth of assets worldwide and cut exploration costs by 30%.
- Total says it would still principally be an oil and gas company but aims to be 20% low-carbon by 2035 said Patrick Pouyann©, CEO and Chairman on May 2016.
- On June 2016, to expand its gas and power distribution activities, Total signed a $224m deal to buy Lampiris, the third largest Belgian supplier of gas and renewable energy.
- In July 2016, Total agreed to buy French battery maker Saft Groupe SA in a $1.1bn deal, to boost its development in renewable energy and electricity businesses.
- By the 14 October 2016 the company had a share value of 111,581 million euros, distributed in 2,528,459,212 shares. The shares are owned by a large number of shareholders, the biggest being : Blackrock (5.02%), the employees of Total SA (4.90%), the company itself (4,70%), the Group Bruxelles Lambert (2,50%).
- Since September 2016, Total has set up a new organization to achieve its One Total company ambition to become a responsible energy major. It is composed by the following segments:
- Exploration & Production
- Gas, Renewables & Power
- Refining & Chemicals
- Trading & Shipping
- Marketing & Services
- Total Global Services
- Total has also announced the creation of two new Corporate divisions:
- People & Social Responsibility: Human Resources; Health, Safety & Environment; the Security Division; and a new Civil Society Engagement Division.
- Strategy & Innovation: Strategy & Climate Division, responsible for ensuring that Total strategy incorporates the 2 °C global warming scenario, Public Affairs, Audit, Research & Development, the Chief Digital Officer and the Senior Vice President Technology.
Environmental and safety records
- In 1998 the Total SA company was fined 375,000 for an oil spill that stretched 400 kilometers from La Rochelle to the western tip of Brittany. The company was only fined that amount because they were only partially liable because Total SA did not own the ship. The plaintiffs had sought more than $1.5 billion in damages. More than 100 groups and local governments joined in the suit. The Total company was fined just over $298,000. The majority of the money will go to the French government, several environmental groups, and various regional governments. The Total SA company was also fined $550,000 for the amount of marine pollution that came from it. After the oil spill they tried to restore their image and have opened a sea turtle conservation project in Masirah in recent years.
- Prior to the verdict in which Total was found guilty one of the counterparts in the incident, Malta Maritime Authority (MMA), was not to be tried for having any hand in the incident. In 2005 Total submitted a report to the Paris courts which stated that Total had gotten a group of experts that stated the tanker had corrosion on it and that Total was responsible for it. The courts sought a second expert reviewing of this information which was turned down.
- The AZF chemical plant which exploded in 2001 in Toulouse, France, belonged to the Grande Paroisse branch of Total.
- On 13 August 2007, Total announced a lower fuel emission, lower emissions and cost-efficient petroleum product, named Evolution. Evolution is designed to let its user use less fuel and get further than other fuels. The product was developed exclusively for Total because of the demand for more energy efficient products. This fuel can be used with any engine that runs on unleaded.
- On 16 January 2008, Total was required to compensate all of the victims of the pollution caused by the sinking of the ship Erika. They are required to compensate the victims in the amount of 192 million. This is in addition to the 200 million that Total spent to help clean up the spill. The company appealed against the verdict, lost the case in the following two appeals and was definitely condemned.