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 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 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 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 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.
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 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 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 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 Wins Iran Gas Field Deal
French oil major Total said on Monday it had signed a contract with Iran to develop the giant South Pars gas field, marking the first major Western energy investment since sanctions against Tehran were lifted. Total and the National Iranian Oil Company (NIOC) signed a deal to develop phase of 11 of South Pars…
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 CEO Hopes Britain Will Remain in the EU
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: 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 CEO: No Hurry to Shed Oil Sands Assets
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 Looking to Divest Italy Petrol Station JV with ERG
Total is looking at divesting its Italian petrol station joint-venture with ERG next year, Chief Executive Officer Patrick Pouyanne told investors in London on Thursday. The TotalErg joint venture with Italian renewable energy group ERG owns one of Italy's biggest petrol station networks.
Total Hires New Security Head
Total has hired the chief of France's Gendarmerie police force to take over as its head of security, the oil company said on Wednesday. Total has installations in major hot spots including Libya, Yemen and also in Nigeria, where there have been a series of attacks on oil pipelines.
Total Files Arbitration Against Contract Terms in Algeria
French oil major Total has filed a request for arbitration against its contract terms in Algeria, CEO Patrick Pouyanne said on Saturday. "We tried as always to find a mutual agreement first, it failed, so we decided that we would seek arbitration," Pouyanne told Reuters on the sidelines of a business conference in Aix-en-Provence.
Total to Invest over $2 bln in Al-Shaheen Development -CEO
Total plans to invest more than $2 billion in developing the Al-Shaheen oilfield over five years, the company's chief executive said on Monday, after the French major won a 30 percent stake to operate Qatar's largest offshore oilfield. "We have a plan to invest for five years 2017-2022…
Sub $30 Oil Negative on Renewables -Total's Pouyanne
Crude oil at below $30 per barrel has a negative impact on the profitability and investments in renewable energies, Total's Chief Executive Officer Patrick Pouyanne, told a forum in Davos in Thursday. Oil prices have fallen to multi-years lows in due to a persistent global supply surplus. "Today at $30 a barrel, I'm sorry," Pouyanne said.
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…