Total SA to stop fuel oil sales to power and utility companies


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Total SA to stop fuel oil sales to power and utility companies

Late last week, the Chief Executive of French gas and oil supermajor, Total SA, said that the oil industry behemoth was exploring an option to stop sales of fossil fuels to power and utility producers as the energy giant appeared to be stepping up efforts to reduce its impact on global carbon emission and to develop its own renewable power businesses.

If truth is to be told, fossil fuel or petroleum derivatives has been one of the most crucial oil products that exclusively gave a boost to carbon emission while being used for power generation and for marine fuel, while the Paris-based Total SA, the Europe’s largest refiner based on revenues, had developed and sold off more than 4 per cent of entire petroleum or hydrocarbon derivatives consumed last year.

Meanwhile, addressing to the French oil and gas supermajor’s sagacious approach towards building its own network of renewable energy, Total SA Chief Executive, Patrick Pouyanne said in an interview with a press agency later last week, “We want to stop selling fuel oil for making power.

” Aside from that, a spokeswoman for Total SA had confirmed on Saturday (February 15th) that the group’s marketing arm was mulling an option to stop sales of fossil fuels to power generators.