22/02/2020 by Richard
Patrick Pouyanné, CEO of the France-based energy company Total, has said in an interview that the company is looking at ending the supply of fuel oil for power generation. The company is looking to transition from an oil and gas company to an energy major, and the move would be the latest attempt to reduce the company’s carbon footprint.
Total’s overall goal is to lower the carbon footprint of its offerings by 15% over 15 years, starting with the 2015 commencement of the Paris climate accord. Fuel oil is one of the more carbon-intensive options for power generation, so ending this and other carbon-intensive products would help Total to meet its target. It may also look at selling cleaner fuels, as well as improving energy efficiency and using renewable power in its operations, in efforts such as the manufacture of lubricant products.
A spokesperson for Total confirmed that its marketing division was evaluating whether to end the sale of fuel oil, which made up 5% of the company’s refined products in 2018, to power generators.
Total is also following the example of Norwegian company Statoil, which changed its name to Equinor after diversifying into the renewable energy sector. It recently increased its engagement in the renewable energy market in India and entered the Spanish market with agreements to establish projects to generate 2 GW of solar energy. It has also started a pilot project as a first step in ramping up Europe’s capacity to make batteries for electric vehicles.
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