TotalEnergies turns 100! With this, all five major oil companies have now become centenarians!

The above constitute 'major storms and trials'—not counting other challenges arising from corporate strategic missteps, major operational management accidents, leadership crises, and so on. In my view, among these five giants, BP has had the most difficult journey to date. Beyond the shared challenges listed above, BP has endured the following three 'catastrophes': First, in 1951, after Iranian Prime Minister Mohammad Mosaddegh came to power, he launched a sweeping nationalization campaign targeting BP—and ultimately expelled BP from Iran. At the time, BP controlled nearly all of Iran’s oilfields and the Abadan Refinery—one of the world’s largest refineries then—and Iran was BP’s sole core country. Mosaddegh’s nationalization move nearly drove BP into irreversible ruin, forcing it to retreat humiliated back to the UK. Second, the 2010 Deepwater Horizon oil spill in the Gulf of Mexico—a decade-long ordeal that concluded only around 2020. Post-event estimates suggest BP paid nearly $60 billion in compensation and environmental remediation costs. Tony Hayward, BP’s CEO at the time, resigned in disgrace. Once again, BP teetered on the brink of collapse—but somehow survived. Third, the 2022 Russia-Ukraine war prompted BP to exit the Russian market immediately. Russia had long been a core strategic business unit for BP—and a vital production and profit center. Notably, BP’s former CEO Bob Dudley served as President of TNK-BP (BP’s Russian joint venture) before succeeding Hayward. The outbreak of war led BP to write down approximately $20 billion—primarily the value of its 20% stake in Rosneft. Consequently, while other oil majors reaped extraordinary profits in 2022 amid soaring oil prices, BP posted a loss—an unprecedented blow. In contrast, I believe the company that has reached its centenary year most smoothly and uneventfully is TotalEnergies—just entering its 100th year. On TotalEnergies’ official website, the following wartime episode is recorded: In 1939, many employees of Compagnie française des pétroles (CFP)—Total’s predecessor—were mobilized for military service, halting operations. The war inflicted substantial material losses, including ships, inventories, and refinery facilities. Prior to joining the Vichy regime in July 1940, CFP was repeatedly forced to make concessions. After the armistice, CFP and Belgian firm PetroFina struggled—sometimes futilely—to retain control over their assets and safeguard their interests. Amid severe shortages, alternative fuels were developed; in 1941, a new company named Société nationale des pétroles d’Aquitaine was established in southwestern France—later becoming the cornerstone of the Elf Group. Today’s TotalEnergies Group emerged in 2000 through the merger of Total, Elf, and Fina (forming TotalFinaElf). On May 6, 2003, the company rebranded as 'Total' to reflect its renewed corporate identity. On May 28, 2021, it adopted its current name: 'TotalEnergies'.

2024 Global Oil Companies’ Crude Oil Investment Projects

ExxonMobil’s sixth billion-dollar project in Guyana will raise the country’s production capacity to 1.3 million barrels per day. Among the lowest-emission-intensity assets in ExxonMobil’s upstream portfolio, it will supply additional reliable energy to global markets, with startup expected in 2027. 3. China National United Oil & Gas Group Co., Ltd. In May 2024, secured development rights for the northern extension of the East Baghdad Oilfield in Iraq, and for the Middle Euphrates Oilfield spanning southern Najaf and Karbala provinces. 4. China United Energy Group Co., Ltd. In May 2024, secured development rights for the Fao Oilfield south of Basra. 5. Zhenhua Petroleum Holding Co., Ltd. In May 2024, secured development rights for the Kurun Field in the Iraq–Saudi Arabia border region. 6. Zhongjiu Oil & Gas Co., Ltd. In May 2024, secured development rights for the Zubairtiya Oilfield east of Wasit, Iraq. 7. China National Offshore Oil Corporation (CNOOC) In May 2024, secured development rights for Block 7. 8. Sinopec Group In May 2024, secured development rights for the Summer Oilfield. 9. Antong Oilfield Services Group Co., Ltd. In May 2024, secured development rights for the Dhafriyah Oilfield. 10. TotalEnergies In May 2024, launched the Kaminho deepwater project—developing the Cameia and Golfinho fields located 100 km off Angola’s coast in 1,700 meters of water. Equity ownership: TotalEnergies (40%), Petronas (40%), Sonangol (20%). Break-even oil price below USD 30 per barrel. Carbon intensity: 16 kg CO₂e/boe—set to become TotalEnergies’ first development project in the Kwanza Basin. 11. China National Offshore Oil Corporation (CNOOC) In May 2024, launched a deepwater development program offshore Mozambique—covering five deepwater blocks totaling approximately 29,000 km². CNOOC operates all five blocks through wholly owned subsidiaries in Mozambique, holding 70–80% equity stakes; Mozambique’s national oil company holds the remaining 20–30%.

TotalEnergies wins bid to supply Namibia with fuel from Nov-Jan, energy minister says

Sep 21, 2026

TotalEnergies secured a three-month fuel supply contract for Namibia, offering significant savings on diesel and petrol volumes. Meanwhile, the company continues negotiations for its Venus offshore oil project ahead of planned 2030 production.

reuters

2025-11-06

TotalEnergies Lifts Force Majeure on French EVA Plant

2025-11-26

TotalEnergies maintains Antwerp toluene output as 2026 supply worries persist

2026-01-17

TotalEnergies declares force majeure on EVA at Gonfreville, France

2026-01-21

TotalEnergies and Bapco Energies Establish Joint Venture for Oil Trading

2026-03-20

TotalEnergies and Plastic Energy Start Up Grandpuits Advanced Recycling Plant