Sunday, July 15, 2018

Patrick Pouyanne News

Total to Buy 25% Stake in Clean Energy Fuels Corp

(File photo: Clean Energy)

Total has agreed to buy up to 50.8 million shares in Clean Energy Corp for $83.4 million, becoming its largest stockholder with a 25 percent stake, the French energy company announced on Thursday.Total will also provide $100 million in credit support for Clean Energy's plan to launch a leasing program to place thousands of new natural gas heavy-dut

Total Signs $1.5 bln Sonatrach Deal for Algerian Project

Photo: Sonatrach

French oil and gas major Total has signed a $1.5 billion deal with Sonatrach to build a polypropylene plant in western Algeria, the companies said on Friday.Engineering studies have started already and front-end engineering and design will start in the summer, Total said in a statement.Algerian state energy company Sonatrach will own a 51 percent s

Total, Singapore's Pavilion Energy Sign LNG Ship Fuel Supply Chain Deal

Photo: Total Marine Fuels Global Solutions

Total and Singapore's Pavilion Energy have signed a non-binding deal through their subsidiaries to develop a liquefied natural gas (LNG) bunker supply chain in the port of Singapore, the companies said in a joint statement on Tuesday.Total Marine Fuels Global Solutions, the French oil major's affiliate in charge of worldwide ship fuelling…

Total Determined to Drill Amazon Basin as Greenpeace Storms AGM

(Image: Total)

Total is determined to push ahead with its plans to drill for oil in the Amazon basin, it said on Friday as Greenpeace activists interrupted its annual general meeting in protest at the project.The French oil major wants to explore Brazil's Foz do Amazonas basin, but Brazil's environmental…

Total to Invest $3.5 Bln over Five Years in Qatari Field

France's Total will invest $3.5 billion over five years in Qatar's offshore Al Shaheen oilfield and expects to keep production running at 300,000 barrels per day in future, French and Qatari executives said on Tuesday. Total's investment commitment was announced while Qatar is embroiled in a political crisis.

Total: Maersk Deal to Boost Earnings

French oil major Total said on Monday that its acquisition of Maersk Oil for $7.45 billion would boost its earnings and cash flow, and bolster its dividend prospects. "This transaction is immediately accretive to both cash flow and earnings per share and delivers further growth over coming years…

Total Expects Approvals for Offshore Greece Exploration

File Image (CREDIT: AdobeStock / (c) xmentoys)

Total expects approval from the Greek parliament by the end of the year to explore for oil off the western coast of Greece, the French company's chief executive told a Greek newspaper. Greece and a consortium made up of Total, Italy's Edison and Hellenic Petroleum have signed a lease agreement to search for oil and gas in the Ionian Sea.

Total CEO: No Hurry to Shed Oil Sands Assets

File Image (CREDIT: AdobeStock / (c) Shamtor)

Total CEO Patrick Pouyanne said on Monday that the company was not in a hurry to "diversify" (sell) high break-even assets such as oil sands. Pouyanne told analysts during a call that the company would wait until oil prices rise before selling the assets. "We will see what we will do with this project in the coming years but...

Total CEO Will Try to Move Ahead with Iran Gas Project

French oil and gas major Total will push ahead with its Iran gas project if the United States decides to slap unilateral sanctions on Teheran after President Donald Trump said he will not certify the landmark Iran nuclear deal. Total's Chief Executive Officer Patrick Pouyanne said…

Total Opens Washington Office as Iran Risks Loom

Total has opened an office in Washington in a bid to strengthen relations with the U.S. administration as the French oil and gas company prepares to invest billions in Iran. In July, Total became the first Western energy firm to sign a deal with Iran since the easing of international sanctions in 2015…

U.S. Stance Complicates Total's Iran Gas Deal

French oil and gas major Total would have to review its Iran gas project if the United States decided to impose unilateral sanctions on Tehran, given the company's assets in the U.S. market, its chief executive told CNN. Last month, U.S. President Donald Trump refused to formally certify that Iran was complying with the nuclear deal…

Total Will Lose Entire Investment if it Pulls Out of South Pars

France's Total will lose all of its investment if it pulls out of a deal with Iran to develop South Pars, the world's largest gas field, the Iranian oil minister said on Tuesday. "If Total, without the enforcement of Security Council sanctions, announces that it has the intention to leave the contract…

Total CEO Not Worried over Possible Norway Fund Capital Exit

Patrick Pouyanne (File photo: Total)

The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief Executive Officer Patrick Pouyanne said on Friday. "I can tell you that, obviously, the managers…

Total to supply LNG for CMA CGM's Future Boxships

File Image: A typical CMA CGM boxship underway. CREDIT: (c) C. Plisson

Total to supply 300,000 T of LNG a year for 10 years. Total will supply liquefied natural gas (LNG) to CMA CGM to fuel the container shipping group's future very large vessels, the French companies said on Monday. CMA CGM had said last month it would use LNG to power the nine extra-large vessels it has on order…

Sonatrach Plans Closer Ties with Total on Energy Projects

Algerian state energy firm Sonatrach and Total are planning to work more closely together on offshore, petrochemical, solar energy and shale exploration projects, Sonatrach's CEO said on Wednesday. The CEO's comments signal a new chapter for the companies' efforts to cooperate on energy projects and show they have put behind them past disputes…

Big Oil Takes Stage for Post-austerity Beauty Contest

(File photo: Shell)

With years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil…

Total Acquisition of Maersk Oil to Close this Week

file Image: One of Maersk offshore oil installations (CREDIT: Maersk)

Total Patrick Pouyanne said on Monday he expected his company's acquisition of Maersk Oil to close on March 8.   Speaking at CERAWeek, Pouyanne also said Total's Phase 11 South Pars gas field development in Iran was progressing as planned.   Reporting by Ron Bousso

Total, Aramco Ink Deal for Jubail Petrochemical Complex

File Image (CREDIT: AdobeStock © MELCAL)

French oil and gas major Total on Tuesday signed a $5 billion deal with Saudi Aramco to build a giant petrochemical complex at their 440,000 barrels-per-day Jubail Satorp refinery. Saudi Aramco holds a 62.5 percent stake in the refinery, while Total holds the other 37.5 percent. The…

Total Pays $1.7 bln for French Electric Retailer

Acquisition makes Total major competitor for EDF; and they paid 30 pct premium on Direct Energie's last close. Oil company Total said it will buy a majority stake in French electricity retailer Direct Energie in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF.

Libya's NOC Withholding Total's Share of Waha Crude

Libya's National Oil Corp (NOC) is withholding Total's share of crude from the Waha concession as a dispute drags on over the French oil major's purchase of Marathon's stake in the concession two months ago, Libyan oil and industry sources said.Total closed a $450 million deal to buy Marathon Oil's 16.33 percent stake in Waha in March…

Cookie Settings