Wednesday, January 16, 2019

Patrick Pouyanne News

Total to Raise Output in 2019

(Photo: Total)

Oil major Total's output will rise to 3 million barrels of oil equivalent per day in 2019, Chief Executive Patrick Pouyanne said on Friday.The company has said its production rate stood at 2.8 million barrels of oil equivalent per day during the third quarter of this year.(Reporting by Benjamin Mallet; writing by Inti Landauro; editing by Richard L

Papua New Guinea Paves Way for LNG Expansion

© bilalulker / Adobe Stock

A long-awaited project led by France's Total SA that will help double liquefied natural gas (LNG) exports from Papua New Guinea has come another step closer, with the government agreeing to set financial terms early next year.The LNG expansion, which analysts estimate will cost $13 billion…

Total and Sempra Energy Ink North America LNG Deal

© Bjoern Wylezich / Adobe Stock

French energy group Total and Sempra Energy have signed a memorandum of understanding on the north American liquefied natural gas (LNG) market, which could see Total acquire a further stake in the sector.The deal could see Total take a contract for approximately up to 9 million tonnes…

Total Will Invest More in Short Cycle Projects

French oil and gas major Total will invest more in short cycle projects, said its chief executive on Tuesday.Patrick Pouyanne was a speaking at an investment conference in Riyadh.(Reporting by Rania El Gamal, writing by Alexander Cornwell, Editing Saeed Azhar)

Total, Aramco Sign Deal to Start Jubail Petrochem Engineering Works

Photo: Saudi Aramco

French energy group Total and Saudi Aramco signed an agreement on Monday to start engineering studies for the $5 billion construction of a petrochemical complex at the Jubail Satorp refinery on the eastern coast of Saudi Arabia.Start-up of the complex, which will include a mixed-feed cracker with capacity of 1.5 million tons per year of ethylene an

Total Rules Out U.S. Shale Investments

File Image (CREDIT AdobeStock / © Shamtor)

French energy group Total is not looking at investing in the U.S. shale oil industry when asked whether peer BP's $10.5 billion acquisition of U.S. shale assets from BHP Billiton, had made that sector more attractive."It's first quite expensive, second we don't have the human resources.

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 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 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

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…

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.

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 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

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…

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…

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…

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 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…

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…