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| Name | Symbol | Market | Type |
|---|---|---|---|
| TOTAL SE | NYSE:TOT | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 48.30 | 0 | 01:00:00 |
From Apr 2019 to Apr 2024
By Michael Dabaie
Total S.A. ADRs were up 13% to $28.66 in morning trading.
The French energy company said that due to the sharp decrease in oil prices, it will cut organic capital expenditures more than $3 billion, or more than 20%, reducing 2020 net investments to less than $15 billion.
The company said it would have $800 million of savings in 2020 on operating costs compared with 2019, instead of the $300 million it previously announced.
Total said it would suspend its buyback program. The company said it previously unveiled a $2 billion buyback for 2020 in a $60 a barrel environment. Total bought back $550 million in the first two months.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 23, 2020 10:53 ET (14:53 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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