French supermajor Total proved more resilient than some peers in the first quarter, remaining profitable despite a 35-percent decline in net income to $1.8 billion. The company said it would continue to distribute dividends, unchanged from last year’s first quarter. Total also declared a goal of becoming net neutral in terms of carbon dioxide emissions by 2050 despite the challenging oil price environment. Noting that this was in line with European Union emissions goals, the French supermajor said it is already working to reduce its carbon footprint by expanding its renewable energy operations. During the first quarter, Total said it accessed close to 6 GW in new renewable power generation capacity across the world. At the same time, the company would continue to pursue lower breakeven prices, to which end, Total said, it acquired Tullow Oil’s interests in Uganda. Total is betting big on renewables. The company eyes some […]