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In addition, the Board has designated Jacques Friedman, an independent director, as Chairman of the Audit Committee and as audit committee financial expert. TOTAL continued its efforts in to preserve the value of these gas transportation and power generation assets. The Directors Charter specifies the obligations of each director and establishes the mission and operating rules and regulations of the Board of Directors.

The Group Chief Financial Officer serves as the committee tempodis.

The Executive Committee meets twice monthly, or as often as necessary. Milford Haven UK 3.

TOTAL also produces base chemicals petrochemicals and fertilizerscholorochemicals, intermediates, performance polymers organized under Arkema since October and specialty chemicals for the industrial and consumer markets. InTOTAL also decided to participate in the development of a third possibility for renewable energy, wave power. At the same time, OIRC negotiates a global reinsurance program with mutual insurance companies for the oil industry and commercial reinsurers.

In parallel, an environmental action plan was put in place over the period from to Ntoice directive also increases public disclosure of emissions to the environment. InTOTAL continued to implement new technologies aimed at improving efficiency, particularly in purchasing, logistics and sales.


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Arkema has production plants in Europe and North America for most of its key products acrylic acid, methyl methacrylate, PMMA, fluorochemicals, hydrogen peroxide, sulfur derivatives. The management of the Company is carried out by the Executive Committee and the Management Committee. A portion of the multi-year program to decommission the Frigg facilities and restore the site was completed during the summer ofas was the bypass of MCP01 through the Vesterled gas export line.

Other parameters are surveyed and measured. The TPG platform was completed at the end of Girassol, which is in production, Dalia, which is nptice development, and Pazflor, where development studies are underway.

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The long-term contracts under which TOTAL sells its natural gas yemporis usually provide for a price related to, among other factors, average crude oil and other petroleum product prices, as well as, in some cases, a cost of living index. Studies for the development of Pazflor, the third production zone, which comprises the. The Group also makes judgments and estimates in recording costs and establishing provisions for environmental clean-up and remediation costs which are based on current information on costs and expected plans for remediation.

Raw materials prices and energy costs were significantly higher in than in Arkema intends to remain a major player in Europe and launched a productivity plan in which would include the shutdown of underperforming plants and the expansion of its most competitive plants.

The committee meets at least four times a year to examine the consolidated annual and quarterly financial statements. Table of Contents contamination may also cause us to incur material costs resulting from actions taken to comply with such laws 35 regulations, including: Its main products include hydrogen peroxide, sodium chlorate, and hydrazine and its derivatives.


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Table of Contents cost of living index. Our long-term profitability depends on cost effective discovery and development of new reserves; if we are unsuccessful, our results of operations and financial condition will be materially and adversely affected. The amounts insured depend on the financial risks defined in the disaster scenarios discussed above and the coverage terms offered by the market available capacities and price conditions. TOTAL is pursuing decentralized rural electrification activities by responding to tender invitations from public authorities in various countries such as Mali, Morocco and South Africa.

A weighted-average rate is then calculated. In general, TOTAL is required to pay income tax on income generated from its production and sale activities under its concessions or licenses. The Hydrogen Peroxide business unit targets applications in two major sectors: The economic environment for these activities is extremely volatile and margins are strongly influenced by the evolution of the price of naphtha.

In order for this business to continue to be profitable, we continuously need to replace depleted reserves with new proved reserves. Sales to external customers as a percentage of total sales. No representation is made that the euro could have been converted into dollars at the rates shown or at any other rates for such periods or at such dates.