2020, a black year for Total, marked by a net loss of 7.2 billion dollars

Total headquarters in Courbevoie in the Paris region.


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The Total group announced, Tuesday, February 9, a net loss of 7.2 billion dollars in 2020. In addition to the Covid-19 crisis, which weighed on oil prices, Total also suffered from the fall in oil prices .

However, the group intends to continue with its commitment to energy transition.


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Like all the

other players in the oil market

, Total is no exception: 2020 has been a tough year.

The French giant has delivered its figures for the past year: it announced a net loss of $ 7.2 billion in 2020. A year in the red, while in 2019, Total's profit amounted to 11 , $ 2 billion.

The group saw its adjusted net profit fall 66% to $ 4.06 billion.

Not surprisingly, the

coronavirus crisis

is no stranger to it.

But it is not the only one to explain these figures: the depreciation of the

price of the barrel

also had a significant impact.

The year 2020 saw two major crises: that of the Covid 19 pandemic which strongly affected global demand, and that of oil which drove Brent prices to a level below 20 dollars per barrel during the second quarter

 ”, explains CEO Patrick Pouyanné in a press release.

Total will become TotalEnergies in May 2021

In 2020, Total saw its production of hydrocarbons fall by 5%.

The group, which wants to take the name of TotalEnergies to better reflect the energy transition, also sees its net results suffer: in July 2020, it announced asset write-downs of $ 8.1 billion, which was explained by the low prices and new climate targets.

In this regard, Patrick Pouyanné confirmed that these new objectives were still on the agenda: “ 

The group affirms its desire to transform into a multi-energy company to meet the double challenge of energy transition: more energy , less emissions.

 The new name of TotalEnergies will therefore be proposed to the general meeting of shareholders, scheduled for May.

😊 @Total will change its name to become #TotalEnergies.

This name will anchor our strategy of #transformation into a multi-energy group.

TotalEnergies is Total, it is all energies, it is all our energies at the service of our customers!

👉 https://t.co/Np4z01fZqa pic.twitter.com/byiTKgIFBp

- Patrick Pouyanné (@PPouyanne) February 9, 2021


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  • Raw materials

  • Oil

  • Energies

  • Economic crisis

  • Coronavirus

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