TotalEnergies renames upstream units to reflect sustainable energy ambitions

Nigeria’s second-largest oil company, TotalEnergies, has unveiled new names for its upstream companies in line with its ambition to move towards sustainable energy.

TotalEnergies made the disclosure at a virtual media parley held on Thursday, August 19, 2021. The company is reinventing and diversifying its energy offering to promote renewable and decarbonised energies, a move spurred by concerns over the climate concerns

In a presentation delivered by Victor Bandele, deputy managing director, Deepwater District, the company explained that Total E&P Nigeria Limited would now be known as TotalEnergies EP Nigeria Limited and Total Upstream Nigeria Limited has become TotalEnergies Upstream Nigeria Limited.

Bandele noted that with the development, all the company’s communication and signage would now reflect the new logo and names as applicable.

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“TotalEnergies mission is to produce and supply energy. TotalEnergies wants to meet the challenge of the 21st century and play an active role in the transformation that is underway in the energy industry, by remaking itself and becoming a broad energy company.

“Total has become TotalEnergies, a company that is expanding in the production, transportation, trading and distribution of responsible energies to the end customer, in the belief that this integrated broad-energy strategy will constitute a value-creating competitive advantage for all of its stakeholders in the long term, and thereby ensure the company’s future health,” he explained.

Bandele gave insight into the implication of the name change and the strategic line of the company’s investment from oil through Natural Gas, Electricity, Hydrogen, Biomass, Wind, and Solar

TotalEnergies has been involved in the oil and gas business in Nigeria for over 60 years and is the only international oil company operating in all the value chains – upstream, midstream and downstream.

Bandele also shed light on TotalEnergies’ flare reduction and gas development programmes in Nigeria noting that “all our projects since 1999 are designed with zero gas flare target. We intend to eliminate routine gas flares in all our operations by 2030.

He pointed to the OFON 2 project which earned more than one million dollars for Nigeria through the sale of carbon credit from the gas flare/emission reduction achieved by OFON.

The virtual media parley moderated by Charles Ebereonwu, TotalEnergies Country Communication manager, provided an opportunity to share insights into the company’s long-term plans in the country.

According to the company’s officials, there is no plan to divest from its Nigerian operation. The company said that the clearest evidence of its commitment to the country was that it continued to invest in the country even in the midst of fiscal and regulatory uncertainties which kept other investors away.