Share Name Share Symbol Market Type Share ISIN Share Description
Total SA LSE:TTA London Ordinary Share FR0000120271 TOTAL ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 € +0.00% 48.39 € 47.51 € 49.00 € - - - 760,464.00 12:02:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 4,348.85

Total SA Share Discussion Threads

Showing 901 to 917 of 925 messages
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DateSubjectAuthorDiscuss
22/2/2017
21:08
Total CEO says OPEC needs to prolong cuts to eliminate glut By John Micklethwait and Francois de Beaupuy on 2/22/2017 NEW YORK (Bloomberg) -- OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global inventory glut that has kept a lid on prices, said Total CEO Patrick Pouyanne. “If they want really to have an impact on the market, which means to have the inventories going down because inventories are quite high, it will have to be extended beyond May,” Pouyanne said Tuesday in a Bloomberg television interview in New York. “I’m convinced that they will do it.” The CEO of the French oil and gas company added that he plans to keep lowering its so-called break-even point -- the oil price at which cash flow covers spending and dividends -- because he’s “not fully convinced” that tough times for the industry are over. Factors including rising U.S. shale oil production and increasing output from Libya may continue to have a negative impact on prices, Pouyanne said. Oil has held above $50/bbl OPEC and 11 other nations started trimming output from Jan. 1. The exporters group implemented about 90% of the pledged cuts last month and Goldman Sachs Group predicts the market will shift into supply deficit in the first half. At the same time, U.S. crude stockpiles have kept increasing to the highest level in more than three decades and oil drillers are deploying the most rigs since October 2015. Trade Warning Pouyanne also warned against mounting economic protectionism, especially in developed countries, saying it may lead to disaster. Free trade has helped reduce poverty in emerging markets, he said. “This trend to have countries around the world thinking that it’s better to be inside their borders” than open to the world “will lead to catastrophe,” Pouyanne said. “Total is in favor of open trade and fair trade.” His remarks come as the French presidential candidate for the National Front party, Marine Le Pen, is calling for France to increase trade barriers, abandon the common European currency and exit the European Union. She is rising in opinion polls ahead of elections in April and May. The euro “is a powerful currency” which needs to be kept, the CEO of France’s largest company by market capitalization said. Voters’ support for Le Pen and the U.K.’s decision to leave the European Union are “a question mark for ourselves, the global leaders.” Trump Policies Rather than set up their own trade barriers, Pouyanne urged the U.S. and Europe to limit themselves to fighting against “unfair” Chinese solar industry subsidies through the World Trade Organization. Total has a controlling stake in U.S. solar-panel maker SunPower Inc. He expressed hope that U.S. President Donald Trump will maintain “policies in favor” of renewable energy. He also reiterated that Total will soon announce its decision on whether to develop a new petrochemical unit in Texas that will create jobs, and expand in liquefied natural gas to take advantage of cheap U.S. shale production. Total said on Feb. 9 that it will increase its dividend by 1.6% and give the go-ahead for almost a dozen new projects in the next 18 months in countries including the U.S., Brazil and Iran, as it benefits from cost cuts and higher oil prices. Regarding Iran, where Total has signed a pre-agreement to develop a gas field, Pouyanne said he was encouraged by recent comments from U.S. Defense Secretary James Mattis. The French company will sign the contract if Iran respects the international nuclear treaty and if the U.S. sticks to it, he said. Pouyanne also called for the U.S. and Europe to improve their dialog with Russia and work together in the fight against terrorism in the Middle East. Relationships have been strained after Western powers imposed sanctions against the Kremlin when it annexed Ukraine’s Crimea region and backed pro-Russian rebels in the eastern part of the country. Total would prefer fewer sanctions against Russia, where the company is poised to complete a giant gas project with partners in the Yamal Peninsula, Pouyanne said.
grupo
22/2/2017
07:34
Https://www.bloomberg.com/news/articles/2017-02-22/total-ceo-says-opec-needs-to-prolong-cuts-to-eliminate-surplus
waldron
09/2/2017
14:42
PARIS--French oil major Total SA (TOT) notched up better-than-expected fourth-quarter profit, reaping the benefit of heavy recent cost cuts, higher oil output, and the rebound in crude prices to above $50 a barrel. The company said it is sufficiently confident about the outlook for the oil market to plan as many as 10 new projects within the next 18 months even though management intends to keep a lid on overall capital expenditure amid likely volatile crude prices. Total posted net profit of $548 million in the three months to end-December, a swing from a net loss of $1.63 billion in the same period a year earlier, on a 12% jump in revenue to $42.28 billion. When adjusted to exclude the effect of changes in inventories and other nonrecurring items, profit rose to 16% to $2.41 billion from $2.08 billion, ahead of the average analysts' forecast of $2.26 billion, the median estimate according to data provider FactSet. Total booked a $1.86 billion depreciation charge on gas assets in the quarter. Net profit rose 22% in the year to Dec. 31 to $6.20 billion. To offset the effects of falling oil and gas prices on its balance sheet, Total has carried out a widespread program to cut costs at all its units and scrambled to extract more oil from existing fields, accelerated new field developments and cut capital investment. The strategy helped the company book net profit of more than $1 billion in 2014 and in 2015. Total said it raised output by 4.5% to 2.45 million barrels of oil equivalent a day in 2016 after a 14% increase in 2015. The company said it declared a higher dividend of 2.45 euros ($2.62) a share. -Write to Inti Landauro at [email protected]m (END) Dow Jones Newswires February 09, 2017 02:55 ET (07:55 GMT)
grupo guitarlumber
09/2/2017
10:12
French Total gets highest profitability among majors in 2016 9 February 2017 12:34 (UTC+04:00) Baku, Azerbaijan, Feb.9 By Leman Zeynalova – Trend: France’s Total oil and gas company has generated adjusted net income of $8.3 billion and had the highest profitability among majors in 2016, said the company’s chairman and CEO Patrick Pouyanne. Pouyanne pointed out that the company’s resilience was supported by outstanding production growth over the past two years (14.3 percent, including 4.5 percent in 2016), said the message posted on Total’s website. Total is continuing to cut costs with the objective of achieving $3.5 billion of cost savings in 2017 and bringing production costs down to 0.5 $/boe (barrel of oil equivalent) for the year, according to the Fourth Quarter and Full-Year 2016 Results posted on the company’s website. The company’s investments are expected to be $16-$17 billion in 2017, including resource acquisitions. In 2017, Total’s breakeven will continue to fall, reaching less than 40 $/b pre-dividend. Cash flow from operations is expected to cover investments and the cash portion of the dividend at 50 $/b.
grupo guitarlumber
09/2/2017
10:02
Total Lifts Dividend, Plans Growth as Profits Beat Estimates by Francois De Beaupuy 9 février 2017 à 08:00 UTC+1 9 février 2017 à 09:35 UTC+1 Company targets 10 upstream investment decisions in 18 months Cash flow to fund dividend, spending at $50 a barrel in 2017 Total SA raised its dividend by 1.6 percent and said it may give the go-ahead for almost a dozen new projects in the next 18 months after fourth-quarter profit beat analysts’ estimates. “We’re going to propose to increase the dividend as we have confidence in the future,” Chief Executive Officer Patrick Pouyanne told reporters in Paris. “My goal is to launch new projects to prepare the future, while remaining disciplined and cutting costs further because crude prices might drift lower.” Patrick Pouyanne Photographer: Jason Alden/Bloomberg Total’s confident appraisal of the year ahead belied what was otherwise a difficult fourth quarter for major oil companies. The French producer’s peers BP Plc, Royal Dutch Shell Plc and Exxon Mobil Corp. all fell short of analysts’ estimates as rising profits from oil and gas production failed to fully offset weaker earnings from refining and trading. Adjusted net income climbed 16 percent from a year earlier to $2.41 billion due to rising oil and gas production and cost cuts, the company based in Courbevoie near Paris said Thursday. Analysts polled by Bloomberg had expected a profit of $2.23 billion. Total shares gained as much as 2 percent and were up 0.3 percent at 46.95 euros as of 9:33 a.m. in Paris. The stock has climbed 28 percent in the past 12 months. Funding Dividend Adjusted net operating income jumped 51 percent from a year earlier to $1.13 billion in Total’s exploration and production business, and rose 13 percent to $1.14 billion in the refining and chemicals division. After writing down the value of gas assets in Australia, Angola and the U.K. due to falling oil and gas prices, Total reported net income of $548 million compared with a loss of $1.63 billion a year earlier. The company said it would raise its quarterly dividend by 1 cent to 62 euro cents, the first increase in three years, while maintaining the option for shareholders to be paid with new Total shares. It said it should be able to fund operations and the cash part of its dividend without needing to borrow with crude at about $50 a barrel this year -- $5 lower than both its September estimate and the current price of Brent crude. Exxon and Shell both said in the past week that cash flow covers their spending and dividends at current oil prices, while the U.K.’s BP needs Brent to rise to $60 a barrel this year to achieve that goal. The most important market news of the day. Get our markets daily newsletter. The price rebound and lower drilling costs have encouraged Total to sign preliminary deals to produce gas in Iran and invest in oil projects from Brazil to Uganda. The final go-ahead for Iran’s South Pars 11 project may be made “before the summer” if the U.S. doesn’t impose new sanctions on Iran, the CEO said. The Libra 1 project in Brazil may also be approved within a similar time frame, Pouyanne said. Investment Decisions The company said it plans to make final investment decisions on 10 oil and gas production projects in the next 18 months, in countries including Nigeria, Angola, Azerbaijan and Argentina. It also expects to decide on a petrochemical project at Port Arthur in the U.S. this year. Total reiterated its plan to boost oil and gas production by 5 percent a year from 2014 to 2020. Output increased by 4.7 percent in the fourth quarter from a year earlier to 2.462 million barrels of oil equivalent a day. Volumes will rise by more than 4 percent this year, helped by the ramp-up of fields started or acquired last year, it said. Total cut operating costs by $2.8 billion last year compared with 2014, and aims to deepen these savings to $3.5 billion in 2017 and $4 billion in 2018. Organic investments, which include acquisitions of oil and gas fields, will be between $16 billion and $17 billion this year, the company said, down from $18.3 billion in 2016. Net debt rose to $27.1 billion at the end of 2016 from $26.6 billion a year earlier as Total borrowed to make shareholder payouts. It completed the $3.2 billion sale of its Atotech unit last month, and may divest as much as $2 billion of pipelines and small fields this year, the CEO said. The company reiterated a plan to cut its debt gearing to 20 percent in the medium term, from 27 percent at the end of 2016. Before it's here, it's on the Bloomberg Terminal
grupo guitarlumber
09/2/2017
08:33
UPDATE 1-Oil major Total says final Iran project investment decision depends on renewal of U.S. waivers (Adds detail, background) By Bate Felix Feb 9 French oil major Total plans to make a final investment decision on a $2 billion gas project in Iran by the summer, but the decision hinges on the renewal of U.S. sanctions waivers, the company's chief executive said on Thursday. Total was the first Western energy company to sign a major deal with Tehran since the lifting of international sanctions against Iran. Its project aims to develop South Pars 11, which is part of the world's largest gas field. PUBLICITÉ Chief Executive Patrick Pouyanne said South Pars 11 will be among a couple of projects to be approved by the company to start by the summer, if nothing is modified with regards to the sanctions. "There are two executive orders that are supposed to be renewed before summer," he said, explaining that the administration of previous U.S. President Barack Obama had signed waivers suspending the sanctions. "These are supposed to last about 18 months. So President Trump will have to, or not, renew these sanction waivers," Pouyanne told journalists in Paris. New U.S. President Donald Trump has said the Iran nuclear deal, which ended a diplomatic standoff between Iran and six world powers over the country's nuclear policy and opens the way for western investment, was "the worst deal ever negotiated." U.S. Secretary of State Rex Tillerson, a former CEO of Total's rival Exxon Mobil, has called for a full review of the Iran nuclear agreement. Pouyanne said that based on the nuclear deal that was signed, the U.S. government would have to prove that Iran had breached the agreement, for the new Trump-led administration to decide against renewing the waivers. Also In Market News BRIEF-Pernod expects to stabilise Absolut vodka sales in U.S. mid-term BRIEF-Central European Media Q4 revenue rose 6 pct to $207.1 mln "So, either the waivers are renewed and as such, respect the Iran nuclear deal, which will allow us to execute the contract and we'll do so, or they decide to tear up the Iran nuclear agreement," Pouyanne said. "In that case, we'll not be able to work in Iran." He added that there was uncertainty on what the new White House administration would do. Pouyanne said the decision to go ahead with the gas deal last November was a 'win-win' one, and that Total had some guarantees in place that protects the company financially if the project does not go through. (Reporting by Bate Felix and Benjamin Mallet; Editing by Sudip Kar-Gupta)
grupo guitarlumber
07/2/2017
17:06
Business Energy BP, Shell hit after Opec output cuts end oil-trading boom February 7, 2017 | 6:56 PM by Bloomberg News AddThis Sharing Buttons Share to FacebookShare to TwitterShare to PrintShare to EmailShare to More Although better known for their oilfields, refineries and gas stations, Shell and BP are the world’s top energy traders, handling about 20 per cent of global oil demand. - Bloomberg News [BP, Shell hit after Opec output cuts end oil-trading boom] Sharelines BP, Shell hit after Opec output cuts end oil-trading boom BP, Shell hit after Opec output cuts end oil-trading boom London: The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over. BP said on Tuesday it made a "small" loss trading oil in the fourth quarter, while Shell last week said trading profits "flattened" in late 2016. The fall off in trading contributed to worse-than-expected fourth-quarter profits at Europe’s largest oil and gas producers. Although better known for their oilfields, refineries and gas stations, Shell and BP are the world’s top energy traders, handling about 20 per cent of global oil demand between them and dwarfing independent trading houses such as Vitol Group BV, Trafigura Group and Glencore Plc. BP "simply had a weak fourth quarter" in oil trading, Brian Gilvary, the company’s chief financial officer, said in an interview, adding that BP managed to make a profit in overall trading once natural gas was included. BP said a court ruling late last year, which cost the trading division about $70 million, further hurt earnings. Oil traders thrived in 2015 and 2016 by taking advantage of an oversupply that led to an unusually strong contango market structure -- where contracts for future delivery trade higher than spot prices. The contango allows traders to buy oil cheap, store it and profit later by locking in their profit through derivatives in so-called "cash-and-carry" deals. As onshore depots filled up over the last two years, oil traders relied on supertankers for "floating storage" deals, at times anchoring ships for months in natural ports or near trading centers like Singapore. The contango has narrowed sharply since the Organisation of Petroleum Exporting Countries and Russia cut production. The price difference between Brent crude for immediate delivery and the one-year forward dropped to a contango of $0.52 a barrel on Friday, the narrowest since September 2014 and well below the 2015 peak of $12 a barrel. Oil curve Oil traders predict the market could flip later this year into the opposite condition, backwardation, where prices for immediate delivery trade at a premium to forward contracts. The oil curve is “flat as a pancake,” Gilvary said, using an expression from his days as head of trading at BP. While contango opportunities no longer exist in crude trading, some remain for gasoline, he said. Oliver Wyman, a consultancy that publishes a benchmark annual review of the commodities trading industry, said the trading arms of BP and Shell enjoyed in 2015 their best year ever thanks to "low, volatile spot prices that created cash-and-carry opportunities." Total, the other major oil company with significant trading operations, reports quarterly earnings on Thursday. In contrast to their European rivals, Exxon Mobil Corp. and Chevron Corp. have smaller trading operations. Independent commodity trading houses have also seen profits from energy trading decline. Vitol, the largest independent oil trader, posted a 42 per cent drop in first-half 2016 profit, according to people familiar with the matter. Trafigura, the third-largest independent oil trader behind Vitol and Glencore, said in December that full-year gross profit from crude and petroleum product trading fell 13 per cent.
maywillow
05/2/2017
11:28
Https://cleantechnica.com/2017/02/05/total-planning-add-ev-charging-stations-petrolgasoline-station-network-france/
waldron
03/2/2017
11:10
Dividends for holders of Total shares traded on the Euronext Paris March 20, 2017 Ex-dividend date for the 3rd 2016 interim dividend
waldron
03/2/2017
11:10
Calendar Financial events February 09, 2017 2016 Results & Outlook Presentation (London, UK)
waldron
03/2/2017
11:09
Europe set to absorb more LNG in 2018 Published by Joseph Green, Editor LNG Industry, Friday, 03 February 2017 09:44 Europe may absorb more LNG in 2018 because of growing global liquefaction capacity. But Russia's response to increasing LNG supply remains unclear. Suppliers of pipeline gas to Europe may have to maintain lower prices to keep out uncommitted LNG cargoes, either through contract renegotiations or selling supply at European hub prices. UK NBP gas prices would have to be at a premium to the US' Henry Hub of US$1.45/mn Btu or less to discourage additional US LNG imports. However, the UK premium could be as low as around US$1/mn Btu to attract US LNG to Europe. Russian state-controlled Gazprom expects little competition from US LNG, at least this year. But it would be in the company's interest to compete with this growing supply source, given its declining domestic gas sales.
waldron
01/2/2017
11:12
Financial events February 09, 2017 2016 Results & Outlook Presentation (London, UK) March 16, 2017 2016 Annual Reports April 27, 2017 First Quarter 2017 Results July 27, 2017 Second Quarter 2017 Results September 25, 2017 Strategy & Outlook Presentation (London, UK) October 27, 2017 Third Quarter 2017 Results All Calendar Close Dividends for holders of Total shares traded on the Euronext Paris March 20, 2017 Ex-dividend date for the 3rd 2016 interim dividend June 05, 2017 Ex-dividend date for the remainder of the 2016 dividend September 25, 2017 Ex-dividend date for the 1st 2017 interim dividend December 19, 2017 Ex-dividend date for the 2nd 2017 interim dividend
waldron
30/1/2017
11:19
Published on 30/01/2017 at 11h09 (Boursier.com) - Total could meet the increase in sales of electric vehicles by equipping its service stations with recharging plugs. The French group "studies the viability" of such a device in some of its points of sale, he confirmed to the Financial Times, which made an article on the subject after Royal Dutch Shell indicated that some Stations of his network would skip the pace. The ENI transalpine already offers recharging sites. The director of Shell's downstream branch, John Abbott, believes that the transition to electric vehicles will take decades, leaving the industry giants time to prepare. But he already sees some advantages in proposing the recharging of batteries, in particular to exploit the coffee or cravings of the motorist during the waiting time. The road is still long for the electric car. In its latest report, the International Energy Agency estimated that these cars accounted for only about 0.1% of the world's total fleet at the end of 2015 (ie 1 billion vehicles). The Agency estimates that 140 million electric vehicles will have been produced in 2030 (10% of the stock of special light vehicles) and 900 million in 2050 (40% of this fleet). This would mean annual growth of more than 25% by 2025, and then by 7-10% between 2030 and 2050.
grupo
27/1/2017
10:17
Big Oil May Not Need To Borrow To Pay Dividends For The First Time In 5 Years By Tsvetana Paraskova - Jan 26, 2017, 5:07 PM CST Offshore rig The hefty cost cuts that the supermajors have made over the past two years, combined with relatively stable oil prices that are now over $50, could mean that Big Oil may not have to resort to borrowing in order to pay the sacred dividends for the first time in five years, Bloomberg reports, quoting analysts at brokerage Jefferies International. The slashed costs – including sweeping job cuts – and the canceling and delaying of highly capital-intensive projects have helped the world’s five biggest oil companies to stop bleeding cash and return to generating cash flows. “As a group they are at peak debt levels now,” Jason Gammel, a London-based analyst at Jefferies, told Bloomberg, referring to operating and capital efficiency at ExxonMobil, Chevron, Shell, Total SA, and BP. Ads by Since the oil prices started crashing in 2014, supermajors had amassed more and more debt. As of the middle of last year, Big Oil’s debts were rising, cash flows dropping, and capex diminishing, but dividends firmly held. Now it looks like the tide is slowly turning, thanks to higher oil prices, leaner operations, and cost cuts. Related: Robots Over Roughnecks: Next Drilling Boom Might Not Add Many Jobs Jefferies has estimated that when oil prices were around US$100 per barrel in 2014, the Big Five had generated a combined US$180 billion in cash from operations. In 2016, the total cash from operations had plunged to US$83 billion. But higher oil prices are expected to help the now ‘leaner and meaner’ oil majors to generate US$142 billion from operations this year, and US$176 billion next year, according to Jefferies. In the next two weeks, the Big Five will report fourth-quarter figures, and analyst estimates compiled by Bloomberg point to Exxon, Chevron and BP booking their first annual profit rises since 2014. More specifically, Chevron is projected to return to profit; Exxon is expected to book a 5.8-percent increase in income; Shell is seen reporting increased profit for a second quarter in a row; BP is likely to post higher adjusted earnings for the first time in nine successive quarters; and Total is seen posting a 4.3-percent increase in adjusted net income. By Tsvetana Paraskova for Oilprice.com
ariane
26/1/2017
16:51
February 09, 2017 2016 Results & Outlook Presentation (London, UK)
sarkasm
22/1/2017
11:24
Oil majors put money on diverging strategies Robin Mills January 22, 2017 Updated: January 22, 2017 02:29 PM Related Oil and gas has itself to blame if millennials are not prepared to work in the industry Oil and gas has itself to blame if millennials are not prepared to work in the industry Robin Mills: Glorious ongoing uncertainty of energy markets Fuel for Thought: Trump, Schlumberger and Iran Ivan Fallon: Seven years after spill, BP is back at centre stage Robin Mills: Post-Soviet oil industries trying still to break free Topics: Oil After cutting billions from their budgets and thousands from workforces over the past three years, big oil companies are back on the acquisition trail. Since September, nine large deals have added up to US$20 billion of spending. But these mark sharp divergences in strategies between the super-majors. Whose view of the future prevails is vital for shareholders and management alike. The largest deal was the most recent – last Tuesday, ExxonMobil agreed to pay the Bass family up to $6.6bn, mostly in its own shares, for acreage in west Texas’s Permian Basin. Smaller companies have also made a string of acquisitions here, the only shale region where production has kept rising through the price slump, with attention moving from the Midland sub-basin to the less-fancied Delaware farther west. The US super-major is also still waiting on shareholder approval for its $2.5bn buyout of Interoil, which is developing gas in Papua New Guinea. After putting the 2010 Macondo disaster largely behind it, BP has been refilling its growth portfolio. The British company paid $2.2bn in stock for a 10 per cent stake in Abu Dhabi’s onshore Adco concession, and acquired exciting deepwater African gasfields for $916 million for part of Kosmos Energy’s discoveries in Mauritania and Senegal, and $525m for 10 per cent of Eni’s giant Zohr find in Egypt. Shortly afterwards, Russia’s Rosneft paid a proportional amount for 30 per cent of Zohr. Total has also been active, buying stakes from Tullow in Uganda and Petrobras in Brazil. This adds to its interesting moves over the past year, notably displacing Maersk Oil from Qatar’s largest producing oilfield, Al Shaheen, in June, and signing a preliminary deal for Phase 13 of Iran’s super-giant South Pars gasfield. But it also bought an early-stage US liquefied natural gas project in December, and should soon announce another deal in Texas. Meanwhile, Norway’s Statoil paid heavily indebted Petrobras $2.5bn for Brazil’s Carcara field in December. By contrast, Chevron and Shell have been quiet on the acquisition front. Chevron already has a large position in the Permian and has been concentrating on developing it. Shell’s $50bn buy of smaller UK rival BG, completed in February, is the only recent mega deal. It has since focused on divestments to pay down debt; as well as downstream assets, it is looking for buyers for its historic onshore fields in Gabon, and some of its Norwegian and Iraqi fields. This acquisition boom has three significant features. Firstly, companies now have enough confidence in commodity prices to move on medium-sized purchases. Recent metrics imply assumed oil prices around $60 to $65 per barrel, a little above current futures levels. But there is still a desire to conserve cash, with BP and, unusually, ExxonMobil paying in their own shares. Secondly, some companies are making bold moves, while others are still managing their balance sheets, or are confident enough in their organic growth portfolio. Thirdly, the American super-majors, like their smaller compatriots, are focused on their backyard. They are betting that drilling shale reservoirs more efficiently can keep outrunning low oil prices. The Europeans, by contrast, are active across the globe, relying on traditional super-major strengths in deepwater, integrated gas developments, frontier areas, and close relations with Middle Eastern governments. Both approaches have dangers. The European super-majors risk being stranded with high-cost, long lead-time assets in a world of permanently depressed oil prices. The Americans are exposed to intense competition from nimbler small players, and concentration on a single country and single resource type. Carried to extremes, their abilities and asset base outside America may be eroded completely. After years in which they all did very similar things, the big oil companies now offer very different investment propositions. This year, if the price recovery continues, we can expect each one to double down on its own strategy, providing a real test of their management team’s vision. Robin Mills is the chief executive of Qamar Energy, and author of The Myth of the Oil Crisis. [email protected].ae
la forge
20/1/2017
03:06
Calendar Financial events February 09, 2017 2016 Results & Outlook Presentation (London, UK) March 16, 2017 2016 Annual Reports April 27, 2017 First Quarter 2017 Results July 27, 2017 Second Quarter 2017 Results September 25, 2017 Strategy & Outlook Presentation (London, UK) October 27, 2017 Third Quarter 2017 Results All Calendar Close Dividends for holders of Total shares traded on the Euronext Paris March 20, 2017 Ex-dividend date for the 3rd 2016 interim dividend June 05, 2017 Ex-dividend date for the remainder of the 2016 dividend September 25, 2017 Ex-dividend date for the 1st 2017 interim dividend December 19, 2017 Ex-dividend date for the 2nd 2017 interim dividend
maywillow
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