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TOTAL (TOT) Gets Third LNG Bunker Supplier License From MPA
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TOTAL SE announced that its unit, Total Marine Fuels Private Limited, was awarded a third Liquefied Natural Gas (LNG) bunker supplier license by the Maritime and Port Authority of Singapore (“MPA”). The license will last for five years starting from Jan 1, 2022. This new agreement follows a 10-year agreement signed by TOTAL two years back to develop an LNG bunker supply chain in the port of Singapore.
TOTAL has actively invested in the development of LNG infrastructure, critical to support shipping customers’ uptake of LNG as a marine fuel. The primary reason for developing the LNG bunkering is to promote the increasing usage of LNG in maritime transport, which will assist it in the reduction of emissions.
LNG Assets & Emission Reduction
The company has a strong and diversified position throughout the LNG value chain. TOTAL continues to expand global operations through acquisitions, partnerships and organic means, as well as targets to attain global production of 50 million tonnes per annum of LNG by 2025.
The promotion and extensive usage of LNG will assist it in achieving climate goals and becoming a net-zero emission company by 2050. In addition, the company targets to generate 40% of revenues in 2050 from low-carbon electricity sales.
Opportunity for Clean Energy
Increasing emphasis on emission reduction and generation of more electricity from clean alternate sources of energy is becoming popular on a global scale. Per the International Energy Agency (“IEA”) report, power generation is going to be greener as we move forward. Per the IEA report, nearly 200 GW of new renewable capacity were added in the generation portfolio in 2020 and renewable capacity is likely to improve in 2021. We expect the rollout of vaccines and restart of economic activities to revive demand for utility services from the commercial and industrial group backed by steady demand from residential customers.
Given growth opportunities in the renewable space, oil and gas companies like ExxonMobil (XOM - Free Report) , Chevron Corporation (CVX - Free Report) and Royal Dutch Shell Plc , among others, are also investing heavily in the renewable energy space.
Price Performance
In the past 12 months, TOTAL’s shares have outperformed the industry.
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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TOTAL (TOT) Gets Third LNG Bunker Supplier License From MPA
TOTAL SE announced that its unit, Total Marine Fuels Private Limited, was awarded a third Liquefied Natural Gas (LNG) bunker supplier license by the Maritime and Port Authority of Singapore (“MPA”). The license will last for five years starting from Jan 1, 2022. This new agreement follows a 10-year agreement signed by TOTAL two years back to develop an LNG bunker supply chain in the port of Singapore.
TOTAL has actively invested in the development of LNG infrastructure, critical to support shipping customers’ uptake of LNG as a marine fuel. The primary reason for developing the LNG bunkering is to promote the increasing usage of LNG in maritime transport, which will assist it in the reduction of emissions.
LNG Assets & Emission Reduction
The company has a strong and diversified position throughout the LNG value chain. TOTAL continues to expand global operations through acquisitions, partnerships and organic means, as well as targets to attain global production of 50 million tonnes per annum of LNG by 2025.
The promotion and extensive usage of LNG will assist it in achieving climate goals and becoming a net-zero emission company by 2050. In addition, the company targets to generate 40% of revenues in 2050 from low-carbon electricity sales.
Opportunity for Clean Energy
Increasing emphasis on emission reduction and generation of more electricity from clean alternate sources of energy is becoming popular on a global scale. Per the International Energy Agency (“IEA”) report, power generation is going to be greener as we move forward. Per the IEA report, nearly 200 GW of new renewable capacity were added in the generation portfolio in 2020 and renewable capacity is likely to improve in 2021. We expect the rollout of vaccines and restart of economic activities to revive demand for utility services from the commercial and industrial group backed by steady demand from residential customers.
Given growth opportunities in the renewable space, oil and gas companies like ExxonMobil (XOM - Free Report) , Chevron Corporation (CVX - Free Report) and Royal Dutch Shell Plc , among others, are also investing heavily in the renewable energy space.
Price Performance
In the past 12 months, TOTAL’s shares have outperformed the industry.
Zacks Rank
TOTAL currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>