Total Publishes the Full List of its Consolidated Entities
Total has disclosed the full list of its 903 consolidated entities. The list, which is available online at total.com, will be included in Total’s 2014 Registration Document. It replaces the list of the main Group entities presented in prior years.
“For a Group as large as Total, which operates in 130 countries, it is quite natural to have numerous entities around the world. Their diversity reflects the variety of our operations. We felt it would be useful to give everyone access to a full list of our entities, with their country of incorporation and country of operation, to ensure that there were no misunderstandings due to partial disclosure,” explained Patrick Pouyanné, Chief Executive Officer.
This move gives Total an opportunity to confirm its existing commitments. The Group no longer opens entities in countries considered to be tax havens and it is withdrawing entities from such countries whenever possible. Already, 14 entities have been withdrawn since 2012. However, the Group notes that it is not possible to close all the entities for operational or legal reasons, notably in cases where Total is not the deciding shareholder. Total is working on withdrawing, by the end of 2016, nine of the 19 entities still concerned as of December 31, 2014.
The Group will continue to promote transparency through its involvement in the Extractive Industries Transparency Initiative (EITI), of which it is a founding member.