French oil giant Total plans to rebrand as “Total Energies”, in a move it said would underline its strategy to become a net zero emissions company.

CEO Patrick Pouyanne described the proposal to shareholders as “historic”, setting out plans to change the group’s profile by 2030.

Oil products are expected to fall from 55% to 30% of sales in that timeframe, while the growth of energy production will be based on the two “pillars” of LNG and Renewables and Electricity.

Shareholders will vote on the name change during the Total Annual General Meeting on May 28, following the likes of Norway’s Equinor which changed from Statoil in 2018.

Mr Pouyanne said Total has “always supported” the goals of the 2015 Paris Climate Accords and that, because of its activities, “the men and women of Total stand at the heart of this issue”.

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Source: EnergyVoice