Total to create Gas, Renewables and Power business unit
Total SA, the French oil and gas giant, will create a Gas, Renewables and Power business unit as it seeks to push further into cleaner fuels and power, Reuters reported.
Company executives will meet with workers’ representatives in a works council meeting on April 19 to present the plan dubbed “One Total,” the CDFT trade union said.
Renewables represent only 3% of Total’s current business portfolio. The French financial daily Les Echos reported earlier that Total Chairman and CEO Patrick Pouyanne would like to grow the company’s renewables business to 20% by 2035.
Gas, Renewables and Power will be Total’s fourth business unit. Currently, there are three: Exploration and Production, Marketing and Services, and Refinery and Chemicals.