MOSCOW (MRC) -- Total S.A. has changed its name to TOTAL SE because of its registration with the Trade and Companies Register of Nanterre, said the company.
The company stated: “Total S.A. announces that it has become Total SE following its registration with the Trade and Companies Register of Nanterre as a European Company, which occurred on July 16, 2020.
“This registration was approved at the Shareholders’ Meeting, held on of May 29, 2020, and follows negotiations with employees’ representatives in 25 countries of the European Economic Area.
"On April 15, 2020, the members of the Special Negotiating Body approved and signed an agreement relating to the procedures for the involvement of employees in the European Company."
It added: "The Company will now be listed as Total SE on stock markets trading its shares and American Depositary Shares. Its ISIN codes and mnemonics remain unchanged."
As MRC informed before, Total has recently disclosed that it is evaluating construction of a new gas cracker at its Deasan, South Korea, joint venture (JV) with Hanwha Chemical.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 595,170 tonnes in the first five month of 2020, up by 10% year on year. Deliveries of all ethylene polymers, except for linear low density polyethylene (LLDPE), rose partially because of an increase in capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market was 457,930 tonnes in January-May 2020 (calculated by the formula production minus export plus import). Deliveris of exclusively PP random copolymer increased.
Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
MRC