Total takes $8.1b impairmentChristian Fernsby ▼ | July 30, 2020
Total announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long term viability of some oil and gas assets.
Total reported a 96% fall in second-quarter net profit to $126 million on Thursday.
Total will not approve any capacity increase on projects of this type and will withdraw from Canada’s oil industry lobby group. ■