‘On March 28, 1924, Compagnie Française des Pétroles was founded in France, a country without any oil. This bold and visionary move marked the start of a century-long saga.’
Olushola Bello
On Thursday28,2024, TotalEnergies’ 100,000 employees in 120 countries worldwide celebrated the 100th anniversary of the Company’s creation.
TotalEnergies’ 100-year history tells the story of the world and energy, from the 1920s to the present day.
A bold and visionary decision
On March 28, 1924, Compagnie Française des Pétroles was founded in France, a country without any oil. This bold and visionary move marked the start of a century-long saga. To secure France’s energy supply, the company would travel to the four corners of the globe, adapting and growing throughout the century and its many technological and geopolitical upheavals.
Pioneers for 100 years
Unlike its rivals of the day, the company did not have access to local resources. That was why it built its competitive advantage on international expansion and technical prowess. These two factors have shaped its pioneer spirit and journey to this day.
Over the years, the company has continuously pushed back the boundaries – both technical and geographical – while also adapting to changing needs and customer expectations. This was how it accompanied the remarkable progress and development that took place in modern society during the 20th century. It also acquired additional expertise and experience by teaming up with Petrofina and Elf-Aquitaine, and more recently with Maersk Oil, Saft or Direct Energie.
Becoming a multi-energy company
While oil was the energy of the 20th century, natural gas and decarbonized power are central to the energy system of tomorrow. Natural gas is necessary to the energy transition, as a support for the rise of intermittent renewables and as a substitute for coal, which emits twice as much CO2 in power generation.
TotalEnergies is currently the world’s third-largest player in liquefied natural gas (LNG). And in electricity, it is one of the most dynamic solar and wind power developers in the world. Electricity is the energy at the heart of decarbonization and the 21st century will clearly be electric.
Driving the energy transition
Since 2020, the company been resolutely implementing a transition strategy anchored around two pillars: hydrocarbons (including LNG) and electricity. It has the ambition to successfully achieve its transition and support its customers with theirs. Its challenge is to supply the world with the affordable energy required for its development while also reducing emissions.
That is the “just, orderly and equitable” transition called for by COP28. “Drawing on the pioneer spirit that guides us, we will continue to adjust and adapt as needed to be part of the story of energy for another 100 years!’ TotalEnergies said.
businessstandardsng.com/ a strategic cross-reporting initiative.
