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About: http://data.cimple.eu/news-article/072466aba8b6e247d67fdc6f0d25d137aedf571a26c33fba29b83ce0 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	French energy giant Total reported Tuesday a 2020 net loss of $7.2 billion, compared with a profit of $11.2 billion the previous year, as the coronavirus pandemic slashed demand. The company, which was to change its name to TotalEnergies to reflect a move away from fossil fuels, said its adjusted net profit -- which excludes exceptional and one-off items -- plunged 66 percent in 2020 to just over $4.0 billion. "The year 2020 saw two major crises -- that of the Covid-19 pandemic which sharply affected global demand and the oil crisis which resulted in prices for Brent oil falling under $20 a barrel in the second quarter," Total boss Patrick Pouyanne said in a statement. Oil prices even fell into negative territory at one point early last year as the pandemic saw governments worldwide impose harsh lockdown restrictions. In the last few months however prices have recovered steadily, with Brent crude now back above $60 after producers cut output and the global economy shows signs of a rebound. Total said its oil and gas production was down down 5.0 percent last year while it also had to take charges of $8.1 billion to cover asset writedowns. "The group affirms its wish to transform into a multi-energy company so as to face up to the challenge of the energy transition -- more energy, fewer (greenhouse gas) emissions," Pouyanne said. This change underlies the decision to rename the company TotalEnergies which will be put to a shareholder vote in May, he added. jmi/ak/bmm/wdb
schema:headline	Virus crisis pushes Total into massive annual loss
schema:mentions	World energy consumption Patrick Star Barrel French language Fossil fuel Impose (magazine) Greenhouse gas Alaska Lockdown Pandemic Virus Coronavirus Coronavirus disease 2019 1973 oil crisis Energy transition Brent Crude
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-02-09 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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