The firm has been considered the fastest off the mark of the European oil majors covering the most ground since announcing its low carbon goals., released on the company’s webpage on Tuesday, the company plummeted to a $7.2 billion net loss for the whole of 2020, down from its profit of $11.2 billion the previous year, as it dealt with the two major crises of COVID-19 pandemic and oil price crash.
According to the statement, Total made $1.5 billion in assets sales in 2020 including the divestment of some non-core assets in the United Kingdom North Sea.The company noted that for 2021, oil prices have been above $50 since the year started. Faced with COVID uncertainties, the company projected its net investments for the year at $12 billion.
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