We won’t downsize due to transformation – TotalEnergies assures

Smarting from a recent transformation to TotalEnergies Group, from the age-old Total E&P Nigeria, Total companies in Nigeria have assured that the name change and transformation would not affect their Nigeria operations resulting in job losses in the country.

If anything, the energy group intends to invest $60 billion in renewable energy projects between now and 2030 as part of its ambitious moves to deepen its energy transition space in the world.

Incorporated as Total Nigeria PLC in Nigeria as a private company in June 1956 to market petroleum products in Nigeria, TotalEnergies is a multinational energy company operating in more than 130 countries and committed to providing sustainable products and services for its customers. For over 50 years, Total Nigeria Plc has remained the leader in the downstream sector of the Nigerian oil and gas industry with an extensive distribution network of over 570 service stations nationwide and a wide range of energy products and services.

The French multinational company said the transformation would have more positive impact as it would constantly upskill its staff in tandem with the transformation.

At the ordinary and extraordinary shareholders’ meeting in Paris, on May 28, 2021, shareholders approved 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.

The energy company said the name change to TotalEnergies would not in any way alter any joint venture agreements between it and co-investors, as well as stop some of its ambitious energy projects in Nigeria. It said the name change and the company’s strides in energy transition represent increased opportunities for Nigeria and investors in exploration of natural resources, which would continue to be its niche area.

According to Bunmi Popoola-Mordi, executive general manager, Total Country Services, the company would take steps that would mark the adaptation of the new name, logo and visual identity, which is at the heart of the company’s strategy to achieve carbon neutrality by 2050.

She shed light on the group’s ambition in relation to its operations. “Beyond our ambition for 2050, we have set precise, demanding targets for 2030. We will produce more renewable electricity and LNG. We will also need new oil projects to offset the decline in output from fields currently in production while decarbonizing our hydrocarbon production chain by avoiding and reducing emissions and capturing residual emission. She said, TotalEnergies wants to influence demand by offering customers decarbonized alternatives whenever possible. Popoola-Mordi said.

“By 2030, the production and sale of petroleum products will account for around a third of TotalEnergies’ aggregate energy production and sales. This is slated to decline to below 20% by 2050 versus 55% in 2020. Simply put, we are leveraging the energies of today to build the energies of the future, and 2020-2030 will be the decade of our transformation into a truly broad energy company with a line-up featuring oil, gas, electricity, hydrogen, biomass, wind and solar”.

“TotalEnergies intends to become a major player in the energy transition, and we have built a solid foundation on which to achieve our ambition,” the executive general manager, Total Country Services said.