Total SA Announces Q2 Exceptional Asset Impairments - Quick Facts

(RTTNews) - Total SA (TTA.L, TTFNF.PK, TOT) said, overall, the exceptional asset impairments that will be taken into account in the second quarter of 2020 amount to $8.1 billion, including $7 billion on Canadian oil sands assets alone, impacting the gearing ratio of the Group by 1.3%.

As a result of the short-term price revision, Total recognized in the second quarter an exceptional asset impairment charge of $2.6 billion, mainly on Canadian oil sands assets for $1.5 billion and LNG assets in Australia for $0.8 billion. Additionally, the Group will record an additional exceptional asset impairment of $5.5 billion.