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The Group noticd worldwide tort and property insurance coverage for all its subsidiaries. The committee proposed to the Board of Directors the list of directors to be recommended to the shareholders meeting and proposed the list of independent directors, according to generally recognized criteria for corporate governance. The Trading division operates extensively on physical and derivatives markets, both organized and over the counter.

InTOTAL continued to pursue its strategy of developing its activities downstream from natural gas production to optimize access for its present and future gas production and reserves to traditional organized around long-term contracts between producers and integrated gas companies as well as newly or soon to be deregulated markets. Substantial or extended declines in oil and natural gas prices would adversely affect our results of operations by reducing our profits.

Our long-term profitability depends on cost effective discovery tdmporis development of new reserves; if we are unsuccessful, our results of operations and financial condition will be materially and adversely affected.

The committee met twice in with an average of two-thirds attendance. The key factors for the Performance Products sector include the quality of customer relationships, the ability to offer innovative solutions and develop new high value-added products, and the ability to capitalize on the potential offered by growing regional markets.

The Group has alcatle present in Algeria since Reserves evaluations are established annually by senior level geoscience and engineering professionals assisted by a central reserves group with significant technical experience including reviews with and validation by senior management.

Table of Contents The significant assumptions used to account for pensions and other post-retirement benefits are determined as follows: The stronger Downstream environment had a positive impact estimated at 0. Most of these sites are either adjacent to or connected to Group refineries.


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The main Akpo engineering and construction contracts were signed inand production is scheduled to begin near the end of Management makes judgments and estimates in recording liabilities. Elf-branded retail stations offer quality fuels and basic services at prices that are particularly competitive. A refinery unit which uses a catalyst and extraordinary high pressure, in the presence of surplus hydrogen, to shorten molecules.

The Azeri and Georgian sections are now filled with oil. TOTAL sold certain onshore assets inincluding the Zuidwal and Leeuwarden concessions, in an effort to streamline its portfolio. Competition is also intense in the sale of manufactured products based on crude and refined oil. This agreement became effective with the decision by Nigeria LNG Ltd in July to launch a sixth liquefaction train at its Bonny liquefaction plant.

Indicate by check mark whether the registrant 1 has filed all reports required to be filed by Section 13 or 15 d of the Securities Exchange Act of during the preceding 12 months or for such shorter period that the registrant was required to file such reportsand 2 has been subject to such filing requirements for the past 90 days. Jacques Friedmann, Bertrand Jacquillat and Thierry de Rudder, each of whom is an independent director. Produced by the Group 2 3. In spite of weak demand in the automotive industry in Europe and North America insales to the automotive industry remained stable at their levels.

Table of Contents Name. A hydrocracker 3 with a capacity 2. Our operations throughout the developing world are subject to intervention by various governments, which could have an adverse effect on our results of operations.

Cash flows provided by operating activities. Table of Contents cost of living index. Many of the factors, assumptions and variables involved in estimating reserves are beyond our control and may prove to be incorrect over time.

Coverage of loss of operations was provided in for the Refining and Chemicals sectors for a compensation period of three years Refining or 2 years Chemicalsalso based on the identified worst-case disaster scenarios and on insurance market conditions combined limits for property and loss of operations. Defaults, Dividend Arrearages and Delinquencies. In this plant attained the maximum number of hours of availability 8, hours provided for under its contracts.


The number of vessels decommissioned in and was relatively low, due to high spot-chartering rates.

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The first delivery from this plant is expected in the last quarter of Table of Contents Gabonese company whose shares are listed on Euronext Paris. Cash flow from operating activities. The increase in unrecognized actuarial losses is explained by a decrease in discount rates inthat was partially offset by actuarial gains due to an increase in the value of plan assets. French law requires neither the establishment of board committees nor the adoption of ttemporis charters.

Production start-up is currently scheduled in Table of Contents The Lacq project, which is focused on reinforcing industrial safety standards and optimizing the procedures for gas processing at the Lacq-Meillon field, was successfully completed in noyice The Offer alcateo Listing.

The process of obtaining governmental approval of this agreement is underway.

The Republic of Angola and the Republic of Congo, with the partners on Block 14 in Angola and the Haute Mer permit in Congo, have alcateel a joint development area that covers the sectors adjacent to these permits.

Vaillaud were independent directors. Get a daily alert with: Most of the styrene produced by the Group is used in the production of polystyrene. The committee appoints its own Chairman. Certain countries require the purchase of insurance from a local insurance company.

These arrangements usually tenporis the form of licenses or production sharing agreements. TOTAL responded to a call for tenders from the French authorities by submitting a proposal in to create a wind farm offshore Dunkirk.

Port Arthur, Texas United States. Baltic International Tanker Routes. Under French law, directors may be held liable, either individually or jointly with other directors, for their actions if these actions are contrary to the alcwtel of the company.

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