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Total refining and oil products summary

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Report summary

Although Total's overall strategy remains upstream-driven, its downstream operations generated very strong results in 2015. Following a period of intensive capital expenditure, Total will cut down investments over the next few years and focus on cash flow generation. Upstream production volumes grew by over 9% in 2015 to support a targeted annual average growth rate of 5% over the 2014 to 2019 period. A US$10 billion divestment programme is in place, covering all sectors, which will see Total continue to shed non-core assets and focus on reducing costs and improving market share where it has competitive advantage. To this end, in 2015 the company sold its fuels marketing business in Turkey and its minority stake in the Schwedt refinery.

What's included

This report contains

  • Document

    Total refining and oil products summary

    PDF 845.20 KB

Table of contents

    • SWOT analysis
    • Upstream to drive cash flow growth, while striving for aggressive renewables targets
    • Developing integrated ‘refining and petrochemical complexes'
    • Next stage of European refinery rationalisation has been announced
    • Exit from Turkey contrasts Total's fuels marketing focus on high-growth areas
  • Financials
    • European refining and marketing operations
    • Refining
    • Marketing
    • Supply/demand
    • Implications and outlook
    • Total
    • Fina
    • Elf

Tables and charts

This report includes 11 images and tables including:


  • Adjusted net operating income
  • Capital expenditure
  • Portfolio summary: Image 1
  • Refinery capacity by country (end year)
  • Service stations by country (end year)
  • Total company position
  • Supply area A - France / Switzerland


  • Executive summary: Table 1
  • Refining and oil products: Table 1
  • Recent European acquisition/divestment
  • Mergers and acquisitions: Table 2

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