Article taken from: finance.yahoo.com
1 / 2 Total considers stopping fuel oil sales for power: CEO FILE PHOTO: The logo of French oil and gas company Total is seen in a petrol station in Paris By Ron Bousso and Bate Felix ABERDEEN, Scotland (Reuters) – France’s Total is considering stopping sales of fuel oil to power markets as the energy giant seeks to reduce its carbon footprint and grow its renewable power business, its chief executive told Reuters. Fuel oil is one of the most carbon intensive refined oil products, used mainly for power generation and as a marine fuel. “We want to stop selling fuel oil for making power,” Total Chief Executive Patrick Pouyanne told Reuters in an interview on Feb. 6. […] The previous year, fuel oil for both power and shipping accounted for around 5% of its total refined products output, according to the company’s data. […] The group, which has rebranded itself in recent years as an energy rather than oil and gas company, is targeting a near ten-fold expansion in renewable power generation by 2025 to 25 gigawatts.
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