Total SA engages in all aspects of the petroleum industry. It operates through the following segments: Upstream, Downstream, and Chemicals. The Upstream segment covers oil and natural gas exploration; development and production; and coal, gas, and power activities. It evaluates exploration opportunities based on a variety of geological, technical, political, and economic factors as well as on projected oil and gas prices. It also focuses on the commercial development of gas resources and the research and development related to alternative energies as complementary energy resources to oil and gas. The Downstream segment conducts refining, marketing, trading, and shipping activities. It refines crude oil to make commercial products such as liquefied petroleum gas, automotive and aviation fuel, lubricants, fuel oil, and asphalt. It also supplier refineries with crude oil and transports refined products to consumer markets. The Chemicals segment includes base chemicals and specialty chemicals activities. The base chemicals activity includes petrochemical and fertilizer businesses while the specialty chemicals activity includes rubber processing, resins, adhesives, and electroplating. The company was founded on March 28, 1924 and is headquartered in Courbevoie, France.