Sunday, March 25, 2018

Patrick Pouyanne News

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 CEO: Novatek Russia LNG of Interest

The chief executive of French energy firm Total, Patrick Pouyanne, said on Thursday that his company was interested in future cooperation with Russia's Novatek on projects involving liquefied natural gas.   Reporting by Olesya Astakhova 

Total Delivers First LNG Cargo from Gladstone

The first cargo of liquefied natural gas (LNG) from Australia's Gladstone project has been delivered to Korea Gas Corp, Total Chief Executive Patrick Pouyanne said on Thursday. The French oil and gas company holds a 27.5 percent stake in the project. Other partners include Australia's Santos Ltd , Malaysia's Petronas and Korea Gas Corp.

Total CEO: Total Reconsidering French Investments due to Strikes

French oil and gas company Total will "seriously reconsider" its investment plans in France due to strikes in the oil sector that forced the company to shut down refineries, iTele television reported Total's chief executive as saying on Tuesday. Patrick Pouyanne was speaking at the sidelines of Total's shareholders meeting in Paris.

Total CEO: Oil Chiefs to Meet on Climate, Carbon Pricing

The chief executive of French oil major Total, Patrick Pouyanne, said executives of eight global oil companies would meet in Paris next week to discuss involvement in the climate change debate and proposals about carbon pricing. He did not name the companies.   (Reporting by Dmitry Zhdannikov)

Total Targets US Polyethylene Market with $1.7 Bln Investment

French oil and gas major Total said on Monday it had entered a joint venture with Borealis and Nova to build an ethane steam cracker, and a polyethylene unit on the United States Gulf Coast in an investment worth $1.7 billion. Total will hold a 50 percent stake in the venture. "By joining forces with Borealis and Nova…

Total Sees Cash Dividend with Oil at $60/barrel from 2017

Total's Chief Executive Officer Patrick Pouyanne said on Thursday that he expected the company to return paying dividends with 100 percent cash with oil at $60 per barrel from 2017. "At $60 per barrel from 2017 we will be able to cover 100 percent in cash," Pouyanne told investors in London.

Total Slashes 2015 Exploration CapEx by 30 pct

Total's new chief said in a newspaper interview that the French oil company aimed to cut exploration spending by 30 percent in 2015 to cope with falling oil prices. "Over the last two years we spent $2.8 billion on exploration, we will reduce that by 30 percent in 2015," Patrick Pouyanne…

Total to Approve New US Refinery Development this Month

French oil and gas company Total this month expects to disclose a partner for a new ethane cracker the company expects to soon approve in Port Arthur, Texas, Chief Executive Patrick Pouyanne said. Pouyanne, speaking at the CERAWeek energy conference on Wednesday, did not name the partner or put a price tag on the development.

Total Plans to Sell Specialty Chemicals Subsidiary Atotec

Total plans to sell its specialty chemicals and equipment division Atotech, the chief executive of the French oil and gas major told French daily Le Figaro after the company announced on Monday it planned to buy battery maker Saft. "Atotech no longer falls within Total's strategic vision," the paper quoted Patrick Pouyanne as saying.

Desmarest Quits Sanofi Board to Focus on Total Role

Thierry Desmarest (Photo: Total)

Sanofi said on Tuesday that Thierry Desmarest had resigned from the board of the French drugmaker to focus on his role as chairman of oil group Total following the sudden death of Christophe de Margerie. De Margerie had held both the chairmanship and the CEO roles until he was killed in a plane crash in Moscow on Oct. 20.

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: No Reason to Sell Hutchinson

Total's chief executive said on Friday the French oil major saw no reason currently to sell its Hutchinson rubber unit and that the group will explain in due time what its plans are for the business. "It's a superb company, we are strongly attached to it," Patrick Pouyanne told shareholders at the group's annual general meeting in Paris.

Total CEO Hopes Britain Will Remain in the EU

Patrick Pouyanne (Photo: Total)

Total's chief executive Patrick Pouyanne said on Friday he had not given up on the idea of keeping Britain in the European Union. The French oil major, Europe's second-largest, is a major oil producer in the British North Sea. "I still hope that Britain remains in the European Union…

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 to Maintain 300,000 bpd Output from Al Shaheen Oilfield

Total CEO Patrick Pouyanne aims to maintain production of 300,000 barrels a day from the Qatari offshore Al Shaheen oilfield for "many years", he said on Tuesday. Pouyanne was speaking at a news conference in the Qatari capital Doha to mark the inauguration of North Oil Company (NOC) as the new operator and developer of Al Shaheen…

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's Pouyanne Expected to be Named Chairman

Total Chief Executive Officer Patrick Pouyanne is expected to be appointed as chairman of the French oil and gas giant on Wednesday, combining both roles again a year after they were split following the death of Christophe de Margerie, who had held both positions. The roles were divided between Pouyanne…

Total to Cut Its Capital Spend This Year by 10%

Photo: Total

French oil and gas group Total plans to reduce capital spending by 10 percent this year, its new chief executive Patrick Pouyanne told the Financial Times. Pouyanne was quoted as saying that there would be cuts to exploration and development in the U.K. region of the North Sea, in Canada's oil sands…