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Registration document 2007 - Total.com

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2<br />

42<br />

Business overview<br />

Downstream<br />

Downstream<br />

The Downstream segment conducts<br />

TOTAL’s refining, marketing, trading and<br />

shipping activities.<br />

No. 1 in Western European refining/marketing (1)<br />

No. 1 in African marketing (2)<br />

Refining capacity of approximately 2.7 Mb/d at year-end 2006<br />

Nearly 17,000 retail stations at year-end 2006<br />

Approximately 3.8 Mb/d of products sold in 2006<br />

One of the leading worldwide traders of oil and refined<br />

products<br />

1.78 B€ invested in 2006<br />

34,467 employees<br />

Downstream segment financial data<br />

(in M€) 2006 2005 2004<br />

Non-Group sales 113,887 99,934 86,896<br />

Adjusted operating in<strong>com</strong>e 3,644 3,899 3,235<br />

Adjusted net operating in<strong>com</strong>e 2,784 2,916 2,331<br />

Conditions in the oil market remained globally favorable in<br />

2006. Refinery margins, while lower than in 2005, remained<br />

on average at satisfactory level.<br />

In 2006, the downstream net operating in<strong>com</strong>e averaged<br />

2,784 M€ <strong>com</strong>pared to 2,916 M€ in 2005, down from 5%.<br />

Expressed in dollars, the downstream adjusted net operating<br />

in<strong>com</strong>e averaged $3.5 billion, down from $0.1 billion<br />

<strong>com</strong>pared to 2005. This evolution is notably due to the impact<br />

of the weaker refining environment, partially offset by favorable<br />

market effects (-$0.65 billion), the impact of performance<br />

improvement (approximately $0.3 billion) and the positive<br />

effect (an estimated $0.25 billion) of the recovery after the<br />

disruption of activities in 2005 (strikes in France and<br />

consequences of Hurricane Katrina in the United States).<br />

(1) Company sources, Oil and Gas Journal of December 18, 2006.<br />

(2) Company sources, PFC Energy, December 2006.<br />

TOTAL – <strong>Registration</strong> Document 2006<br />

Refinery throughput (kb/d) *<br />

2004<br />

313<br />

2 183<br />

* Including Group’s share in CEPSA.<br />

In 2006, refinery throughput averaged 2,454 kb/d <strong>com</strong>pared to<br />

2,410 kb/d in 2005, up 2%. Refinery utilization rate was 88% in<br />

2006.<br />

2006 refined products sales by geographical area:<br />

3,786 kb/d*<br />

15%<br />

Americas<br />

9%<br />

Africa<br />

2005<br />

313<br />

2 097<br />

Europe Rest of world<br />

Rest of world<br />

5%<br />

2006<br />

* Including trading activities and Group’s share in CEPSA.<br />

297<br />

2 157<br />

71%<br />

Europe

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