Registration document 2007 - Total.com

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2 44 Business overview Downstream - Refining & Marketing The Group also decided to build a desulphurization unit at the Lindsey (Immingham) refinery in the UK. This investment is being designed to raise the portion of high-sulphur crude that the plant can process from 10% to 70%. The unit is scheduled to begin operating in 2009. A second project to build a desulphurization unit at the Donges refinery in France is currently being studied. Commissioning is planned for 2010. A third project to construct a desulphurization unit at the Leuna refinery in Germany is also being studied. In addition, CEPSA (1) has announced investments to improve the performance of its refineries, including the construction of a 2.1 Mt hydrocracker (2) unit at the Huelva refinery in Spain. This unit is scheduled to begin operating near the end of 2009. (1) Group’s share in CEPSA: 48.8% as of December 31, 2006. (2) To which should be added a crude distillation unit (CDU), a vacuum distillation unit (VDU) and a steam methane reformer (SMR). Crude oil refining capacity The table below sets forth TOTAL’s share of the daily crude oil refining capacity of its refineries. TOTAL – Registration Document 2006 • Investments are being made to modernize refining sites, improve safety and energy efficiency and reduce environmental impacts. At the Dalian (China) refinery, a modernization program was launched to respond to changes in the volumes and quality of products demanded on national and international markets. A distillate hydrocracker with a planned capacity of 1.5 Mt/y is under construction and is scheduled to begin operating in the summer of 2007. A desulphurization unit with a 2 Mt/y capacity is also under construction. This investment should allow the refinery to meet new diesel specifications. In 2006, two refineries operated by TOTAL were affected by major turnarounds, compared to six in 2005 and five in 2004. Ten refineries are scheduled for major turnarounds operated throughout 2007. As of December 31 (a) (kb/d) 2006 2005 2004 Refineries operated by the Group Normandy (France) 331 331 328 Provence (France) 158 158 155 Flandres (France) 141 159 160 Donges (France) 230 229 231 Feyzin (France) 116 118 119 Grandpuits (France) 99 99 99 Antwerp (Belgium) 350 350 352 Leuna (Germany) 227 225 227 Rome (Italy) (b) 64 64 52 Immingham (United Kingdom) 221 221 223 Milford Haven (United Kingdom) (c) 74 73 73 Vlissingen (Netherlands) (d) 81 84 84 Port Arthur, Texas (United States) 174 174 176 Subtotal 2,266 2,285 2,279 Other refineries in which the Group has an interest (e) 434 423 413 Total 2,700 2,708 2,692 (a) For refineries not 100% owned by TOTAL, the indicated capacity represents TOTAL’s proportionate share of the overall refining capacity of the refinery. (b) TOTAL’s interest was 71.9% as of December 31, 2006 and 2005; TOTAL’s interest was 57.5% as of December 31, 2004. (c) TOTAL’s interest is 70%. (d) TOTAL’s interest is 55%. (e) Fourteen refineries in which TOTAL has interests ranging from 16.7% to 55.6% (seven in Africa, four in Spain, one in Germany, one in Martinique and one in China) and the Reichstett refinery in France in 2004).
Refined products The table below sets forth by product category TOTAL’s net share of refined product output. Business overview Refining & Marketing - Downstream (kb/d) 2006 2005 2004 Gasoline 532 534 580 Avgas and jet fuel 179 191 188 Kerosene and diesel fuel 660 639 712 Fuel oils and heating oils 582 593 552 Other products 455 406 419 Total (a) 2,408 2,363 2 451 (a) Including TOTAL’s share in CEPSA. Utilization rate (crude refining only) 2006 2005 2004 88% 88% 92% Marketing The Group is one of the leading marketers, in the combined six largest European markets (France, Spain, Benelux, United Kingdom, Germany and Italy) (1) . TOTAL is also the largest marketer in Africa, with a market share of 11%, after acquiring distribution affiliates in fourteen African countries in 2005 and 2006. (1) Company data, based on quantities sold. Sales of refined products (a) The table below sets forth by geographic area TOTAL’s volumes of refined petroleum products sold for the years indicated. (kb/d) 2006 2005 2004 France 837 852 882 Rest of Europe (a) 1,438 1,444 1,495 United States 264 256 257 Africa 274 260 245 Rest of world 153 151 129 Total excluding Trading 2,966 2,963 3,008 Trading (Balancing and Export Sales) 820 829 753 Total including Trading 3,786 3,792 3,761 (a) Including TOTAL’s share in CEPSA. Retail stations The table below sets forth by geographic area the number of retail stations in the TOTAL’s network. As of December 31, 2006 2005 2004 France (a) 5,220 5,459 5 626 Rest of Europe (excluding CEPSA) 4,628 4,937 5 003 CEPSA (b) 1,672 1,677 1 697 Africa 3,562 3,505 3 199 Rest of world 1,452 1,398 1 332 Total 16,534 16,976 16 857 (a) Retail stations under the TOTAL and Elf brands and approximately 2,000 retail stations under the Élan brand. (b) Including all the retail stations within the CEPSA network. 2 TOTAL – Registration Document 2006 45
Page 1 and 2: Registration Document 2006
Page 3 and 4: Registration Document 2006 This is
Page 5 and 6: Key figures Selected financial info
Page 7 and 8: 116,842 Key figures Operating and m
Page 9 and 10: Refined product sales including Tra
Page 11 and 12: Business overview History and strat
Page 13 and 14: Upstream TOTAL’s Upstream segment
Page 15 and 16: Exploration & Production Exploratio
Page 17 and 18: Production For the full year 2006,
Page 19 and 20: Presentation of production activiti
Page 21 and 22: Europe Business overview Exploratio
Page 23 and 24: Africa TOTAL has been present in Af
Page 25 and 26: this zone through its subsidiaries
Page 27 and 28: North America Since 2004, TOTAL has
Page 29 and 30: Trinidad & Tobago TOTAL holds a 30%
Page 31 and 32: TOTAL also has a 50% interest in th
Page 33 and 34: Europe TOTAL’s production in Euro
Page 35 and 36: K6-GT platform, in anticipation of
Page 37 and 38: The Group also holds a 20% interest
Page 39 and 40: Gas & Power The Gas & Power divisio
Page 41 and 42: Asia Pacific The Hazira re-gasifica
Page 43 and 44: In Morocco, Temasol, in which TOTAL
Page 45: Refining & Marketing As of December
Page 49 and 50: capacity oil recycling plant in Fra
Page 51 and 52: In 2006, the principal market bench
Page 53 and 54: Base Chemicals TOTAL’s Base Chemi
Page 55 and 56: Specialties TOTAL’s Specialties s
Page 57 and 58: Investments Main investments made o
Page 59 and 60: Property, Plant and Equipment TOTAL
Page 61 and 62: Board of Directors Executive Commit
Page 63 and 64: Management Report of the Board of D
Page 65 and 66: Market environment 2006 2005 2004 E
Page 67 and 68: Upstream results Liquids and gas pr
Page 69 and 70: Downstream results For the full yea
Page 71 and 72: Liquidity and capital resources Lon
Page 73 and 74: Research and development Research a
Page 75 and 76: Trends and outlook Outlook Since th
Page 77 and 78: Risk Factors Market risks p. 76 •
Page 79 and 80: The Group has implemented strict po
Page 81 and 82: The non-current debt in dollars des
Page 83 and 84: Grande Paroisse An explosion occurr
Page 85 and 86: Myanmar Under the Belgian “univer
Page 87 and 88: Risk management Risk evaluations le
Page 89 and 90: TOTAL, like other major internation
Page 91 and 92: Insurance and risk management Organ
Page 93 and 94: Corporate Governance Board of Direc
Page 95 and 96: Daniel Bouton 56 years old. Inspect
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Bertrand Jacquillat 62 years old. A
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Michel Pébereau 64 years old. Hono
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Management General Management On Ma
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Corporate Governance Compensation o
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Pensions and other commitments (Art
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Within this framework, the Board’
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Members of the Audit Committee may
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Messrs. Bouton, Collomb, Desmarais,
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establishes and maintains procedure
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Employees, Share Ownership, Stock O
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Corporate Governance Employees, Sha
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TOTAL stock options Corporate Gover
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Restricted share plans as of Decemb
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TOTAL and its shareholders Listing
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Four-for-one stock split The Genera
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Information Summary TOTAL and its s
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Dividends Dividend policy In accord
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Share buybacks The General Meeting
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Summary table of transactions compl
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cancels and replaces the unused por
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which was approved by the French Co
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Shareholder structure Distribution
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Non-resident individual taxpayers e
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The Committee also worked on the co
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2007 Calendar February 14 Results f
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Financial information Historical fi
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Additional information Financial in
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General information Share capital p
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Pursuant to this authorization, the
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Potential capital as of December 31
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General information Share capital J
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Directors’ Charter and Committees
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Other matters Employee incentives a
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Information on holdings General inf
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Statutory auditors’ report on the
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Consolidated statement of income TO
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Consolidated statement of cash flow
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On February 13, 2007, the Board of
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G. Earnings per share Earnings per
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equal to the market price. For unli
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The net periodic pension cost is re
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(iii) Portion of intangible assets
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A. Information by business segment
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Appendix 1 - Consolidated financial
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ADJUSTMENTS TO OPERATING INCOME 200
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In 2006, gains and losses on sales
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Property, plant and equipment prese
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14) Other non-current assets As of
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The variation of the weighted-avera
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18) Employee benefits obligations P
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The components of the net periodic
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20) Financial debt and related fina
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Impact on net income The amount of
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23) Commitments and contingencies A
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Other guarantees given Non-consolid
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25) Payroll and staff For the year
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The classification by strategy and
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B) Financial instruments related to
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29) Market risks Oil and gas market
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As a result of its policy for manag
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3) The Group has recorded provision
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53.2% 95.7% Elf Aquitaine 99.5% 100
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Oil and gas reserves p. 238 • Cha
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Changes in liquids reserves Appendi
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Changes in liquids and gas reserves
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Costs incurred in oil and gas prope
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Appendix 2 - Supplemental oil and g
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Other information Accounting for ex
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Appendix 3 - TOTAL S.A. Special aud
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(Free translation of a French langu
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Balance Sheet (TOTAL S.A.) Appendix
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Statement of changes in Shareholder
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2) Property, plant and equipment As
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6) Shareholders’ equity A) Common
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7) Contingency reserves As of Decem
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11) Translation adjustment The appl
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20) Commitments As of December 31 (
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TOTAL share purchase options plans
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Appendix 3 - TOTAL S.A. Parent comp
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List of marketable securities held
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Distribution of earnings 2006 Net d
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Social and environmental informatio
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AVERAGE COMPENSATION PER MONTH - TO
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Environment Pursuant to French law
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Consolidated financial information
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European Cross Reference List 10. C
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TOTAL S.A. Registered Office: 2, pl
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Registration document 2007 - Total.com

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