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[grupo guitarlumber] 26/8/2015 11:01

LETS BEGIN THE COUNTDOWN TO ST LEGER DAY 9TH SEPTEMBER

[wipo1] 26/8/2015 10:33

I am looking to buy back Total, does anyone know how I can reduce the French withholding tax from 30pc to 15pc? Thanks

[grupo guitarlumber] 26/8/2015 10:02

th August 2015
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Total, a global, integrated energy producer and provider, has expressed its intention to build the 1,400km-long oil pipeline from Uganda’s Lake Albert to Tanzania’s northeastern port of Tanga as the gateway of Uganda’s oil to the international markets.

The world's fifth-ranked international oil and gas company and second-ranked photovoltaic solar power producing firm, is currently exploring oil in Lake Albert.

The oil firm’s headquarters in East Africa is based in Uganda’s capital, Kampala.

The company’s Senior Vice President for Eastern Africa, Javier Rielo, disclosed the plan at the weekend when he met with President Jakaya Kikwete at the State House in Dar es Salaam.

President Kikwete lauded the firm’s plan of building the oil pipeline to join the two points lying about 1,400 kilometers apart.
Total’s plan came at the time when the government, through the Energy and Water Utilities Regulatory Authority (Ewura), is finalising preparations to start using the Tanga Port to offload petroleum product imports under the Bulk Procurement System (BPS).

Ewura Director General Felix Ngamlagosi was once quoted as saying that using Tanga Port to offload imported petroleum products would reduce costs of the same and boost the region's economy, making it more vibrant as opposed to the current situation.

Ngamlagosi was of the view that the Tanga Port as a second discharging point of imported petroleum products would help decongest the Dar es Salaam Port and reduce delays for ships to dock before they offload from the current two days to zero to make it more efficient.

He stressed that depending on the Port of Dar es Salaam was very risky, considering the security of supplies of petroleum products for the country, adding that in case of a problem it would be easy to check it with alternative ports in the country.
SOURCE: THE GUARDIAN

[maywillow] 26/7/2015 14:15

Jul. 29, 2015

Second Quarter and First Half 2015 Results .

[waldron] 28/6/2015 09:27

06/06/2016 Détachement solde dividendes
21/03/2016 Détachement acompte dividendes
21/12/2015 Détachement acompte dividendes
29/10/2015 Résultats du 3ème trimestre
28/09/2015 Détachement acompte dividendes
29/07/2015 Résultats du 1er semestre

[la forge] 24/5/2015 15:50

May. 29, 2015

2015 Annual Shareholders' Meeting in Paris

[waldron] 20/5/2015 12:18

By Inti Landauro

PARIS--Total SA (TOT) and its Russian partner Novatek (NVTK.MZ) have started pumping natural gas at the Termokarstovoye field in northern Russia, the French company said Wednesday.

Production at the field is due to reach 6 million cubic meters of gas and 20,000 barrels of condensates a day, or 65,000 barrels of oil equivalent a day.

"Achieved ahead of schedule and below budget, Termokarstovoye, the fourth start-up since the beginning of the year, will contribute to Total's production growth in 2015," the French company said.

Total owns 49% of Terneftgas, which operates the fields, while Novatek owns the remainder.

The French company decided to boost oil and gas output to offset the collapse of oil prices on international markets. Many of its aggressive investment projects, carried out when oil prices were much higher, are due to start pumping oil and gas from the ground.

Write to Inti Landauro at [e-mail]

[waldron] 30/4/2015 06:48

By Daniel Gilbert

The costs of finding oil are on the rise. The value of some smaller oil companies has tumbled. For the world's biggest crude producers, this adds up to a question: Is it cheaper to buy someone else's oil than to go digging for it?

As Exxon Mobil Corp. and Chevron Corp. report quarterly profits this week, executives are likely to face questions about their appetite for megadeals like the $70 billion takeover Royal Dutch Shell PLC announced earlier this month of BG Group PLC.

"There is no doubt that it's much, much less expensive to take over a company than develop a new oil project in order to replace reserves," says Leonardo Maugeri, a scholar at Harvard's Belfer Center and a former executive of Italian oil company Eni SpA. He expects the most likely takeover candidates would be oil companies with a stock-market value between $10 billion and $40 billion--relatively small compared with Exxon's $368 billion market capitalization.

The rising costs of finding and producing oil were eating into profits even before global crude prices began to slide last summer from over $100 a barrel to about $66 today. The price collapse has intensified a push by companies to cut costs and shed less-profitable operations.

BP PLC reported Tuesday that quarterly profit fell 40% from a year earlier, despite an increase in oil and gas output and a boost from its refining business. Analysts forecast profits for Exxon, Shell and Chevron will be at least 60% lower than a year ago.

Since 2010, Exxon has spent an average of $29 billion a year on finding and tapping oil and gas, adding an average of 1.5 billion barrels a year to its proved reserves--the inventory of fuels it can pump at a profit. That works out to about $19 a barrel.

But it could get almost the same amount of fuel for less money by buying a smaller rival now that energy companies' stock market values have fallen along with the price of crude.

For example, shale-oil driller Continental Resources Inc. has 1.35 billion barrels of proved reserves and a stock-market value of less than $20 billion, or less than $15 a barrel of proved reserves. The company, which is controlled by Chief Executive Harold Hamm, has lost about 22% of its stock-market value in the last 12 months. Continental declined to comment.

Some analysts think that some U.S.-focused midsize companies are likely to get even cheaper in coming months. Barclays analysts noted on Wednesday that the shares of some drillers appear to assume an oil price of $95 a barrel, far above today's $58 price tag for U.S. crude--and more than futures contracts for oil a year from now.

Exxon and peers point out that they have discovered a lot of oil and gas that they haven't yet booked as proved reserves, which they generally wait to do until committing the money to drill them. Exxon, for instance, says it has found the equivalent of 92 billion barrels of oil, of which a little more than a quarter is counted as reserves. It says it spent just $1.25 a barrel last year to find the oil and gas that it hasn't yet committed to pump.

Because oil and gas wells decline over time, energy companies are constantly trying to replace them. The cost of finding more fuel has shot up for the world's biggest energy companies, as they have pursued oil from beneath Kazakhstan's icy Caspian Sea, developed facilities to export natural gas from the remote reaches of Western Australia and mined gunky crude from Canada's oil sands.

Exxon declined to comment. But asked in March about potential acquisitions, Rex Tillerson, Exxon's chief executive, told analysts that the oil-price crash offered "a whole lot of different kinds of opportunities, not just in terms of accessing new resources through various means but also getting the cost structure back to where we believe it is more appropriate."

The biggest U.S. oil company wields tremendous takeover power with its ability to borrow cheaply and a hoard of shares that could be used in a merger.

For years, Exxon has saved money by reducing its global workforce, which is down by almost a third since its 1999 merger with Mobil Corp. Exxon now has fewer employees than 20 years ago and pumps 50% more oil and gas.

But getting bigger today might not create the savings energy companies are seeking, some analysts say. "They've got huge scale now," says Tom Ellacott, a senior analyst at the consultancy Wood Mackenzie. "It's proved quite difficult to grow with that sort of scale. I think another wave of megamergers is quite unlikely at the moment."

Instead, he says companies will make acquisitions to fill in gaps in their holdings or to building on existing strengths, as Shell proposes to do by swallowing BG.

Before the deal, Shell talked up its ability to discover oil and gas cheaply and played down the value of acquisitions. But then Shell paid a 50% premium for BG, enhancing its dominance as a global shipper of natural gas and acquiring potentially massive oil deposits off the coast of Brazil.

Justin Scheck contributed to this article.

Write to Daniel Gilbert at [e-mail]

[waldron] 28/4/2015 20:46

Refining helps BP, Total show resilience amid lower oil prices • 3:28 PM
Carl Surran, SA News Editor

BP (BP +1%) and Total (TOT +2.3%) can thank much of their higher than expected profits in the latest quarter to steep increases in profits from refining, as the big slump in oil prices has meant refineries can process much cheaper crude and generate higher profits on fuels such as diesel or gasoline.
As a result, BP's underlying pre-tax replacement cost profit from downstream businesses in Q1 more than doubled to $2.2B, while pre-tax profits from oil and gas production, or upstream, collapsed to $600M from $4.4B a year ago.
At TOT, Q1's adjusted net operating income from refining and chemicals more than tripled Y/Y to $1.1B, almost matching contributions from upstream of $1.36B, which fell 56%.
Global majors with high downstream exposure such as Shell (RDS.A, RDS.B) and Exxon (NYSE:XOM) should benefit from the strong refining environment, which BP expects to last into Q2, according to Edison Investment Research.
Despite the plunge in upstream earnings, analysts noted that both BP and TOT enjoyed strong increases in production after years of unimpressive growth, meaning earnings should recover quickly as soon as oil prices rise.

[waldron] 24/4/2015 07:15

Target price Rating DPS 2015
AVERAGE 47.60 positive 1 AVERAGE 2.45
Prev. Quarter 45.67 neutral 5 Prev. Year 2.44
+/- in % +4.2 negative 0 +/- in % +0.3

MEDIAN 46.00 MEDIAN 2.44
Maximum 56.60 Maximum 2.46
Minimum 42.00 Minimum 2.44
Amount 6 Amount 3

Barclays 56.60 Overweight 2.44
Deutsche Bank 48.00 Hold 2.44
J.P. Morgan 44.00 Neutral --
Jefferies 42.00 Hold 2.46
Natixis 43.00 Neutral --
Santander 52.00 Hold --
===

Year-earlier figures are as adjusted by the company.

DJG/err

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[waldron] 22/4/2015 14:21

InterOil says it won't rule out takeover offers • 8:49 AM
Carl Surran, SA News Editor

InterOil (NYSE:IOC) is not ruling out a possible takeover if the price is right, although it is currently focused on completing an appraisal of resources at Papua New Guinea’s onshore Elk-Antelope gas field, a senior company executive says.
Papua New Guinea’s significant natural gas reserves are attractive for global energy companies, given the country’s relatively proximity to Asian gas markets such as China and Japan, and strong backing from the government.
IOC is part of a joint venture with Total (NYSE:TOT) and Oil Search Ltd. (OTCPK:OISHF) to explore Elk-Antelope, one of Asia’s largest undeveloped gas fields

[waldron] 20/4/2015 15:27

Abu Dhabi says still in talks with companies on oil concessions • 8:58 AM
Carl Surran, SA News Editor

The U.A.E.'s national oil company says it is still in talks with major global oil companies about concessions at its largest fields and has not set a deadline for deciding on the awards.
Total (NYSE:TOT) is the only company to be awarded a stake in Abu Dhabi National Oil's new venture so far, agreeing in February to pay a $2.2B signing bonus for a 10% share in the onshore concession.
TOT, along with BP, Shell (RDS.A, RDS.B) and Exxon (NYSE:XOM) were all partners in a previous concession that operated the same onshore fields in Abu Dhabi for 75 years until it expired in January 2014; XOM balked at the new terms and decided not to seek to renew its concession.
Abu Dhabi plans to boost capacity for producing crude oil to 3.5M bbl/day by 2017 from ~3M bbl/day currently.

[waldron] 16/4/2015 17:34

Total, BP say they feel no pressure to make acquisition • 11:59 AM
Carl Surran, SA News Editor

Total (NYSE:TOT) and BP say they feel no pressure to make acquisitions after the recent takeover of BG Group by rival Royal Dutch Shell.
TOT CEO Patrick Pouyanne says Shell's acquisition "made sense" but that there were other ways to grow in a falling oil price environment: "Total can do anything. It could do nothing, because we don't need it... We have a large investment program and organic growth to implement."
Separately, BP CEO Bob Dudley said at the company's annual shareholder meeting that BP had never considered buying BG, while Chairman Carl-Henri Svanberg said BP might look at potential targets but added that a big deal or a merger did not appear to be "the most logical thing to happen."

[waldron] 15/4/2015 14:44

Total's Q1 European refining margins rise to 2-1/2 year high • 8:36 AM
Carl Surran, SA News Editor

Total (NYSE:TOT), Europe's biggest refiner, says its Q1 European refining margins rose to a two-and-a-half year high $47.1/ton from $27.5 in the previous quarter.
The indicator was the highest since Q3 2012, after hitting a four-year low in Q1 of last year.
TOT is due to announce a restructuring plan for its French refineries later this week.

[waldron] 15/4/2015 06:15

Papua New Guinea in talks to raise billions to fund oil, gas plans • 7:31 PM
Carl Surran, SA News Editor

Papua New Guinea's state oil company says it is looking to raise billions of dollars to help fund new oil and gas projects, as the country battles a drop in forecast revenue from plunging prices for energy commodities.
The company holds a 16.6% stake in the PNG LNG project, which operator Exxon Mobil (NYSE:XOM) hopes to expand, and has rights to take up to a 20% stake in the Elk-Antelope fields, Papua's largest undeveloped gas resource and operated by Total (NYSE:TOT).
Funding an expansion of PNG LNG and any Elk-Antelope development would require the state-run firm to contribute billions of dollars in the next three years, so it makes sense for it to raise debt well before it needs the money.
Papua New Guinea's economy grew by 8.4% last year, making it one of the fastest growing in the world, and the energy projects are seen as vital to the economy.

[waldron] 15/4/2015 06:10

Conoco, Devon, Total, Statoil shape up best for $60-$75 oil, Citi says • 5:26 PM
Carl Surran, SA News Editor

The price of oil will recover but not back to triple-digits, Citigroup says, leading the firm to recommend ConocoPhillips (NYSE:COP), Devon Energy (NYSE:DVN), Total (NYSE:TOT) and Statoil (NYSE:STO) while downgrading BP.
Many companies have not left enough headroom to deal with a lower oil price environment after the hot pursuit of growth in recent years, the firm says, believing those most challenged in the new paradigm are players focused on liquefied natural gas and heavy oil, as well as most of the big oil names.
Citi says “shale is the core of the survivors' party,” and that investors can get "good value exposure” by buying COP and DVN; self-help also will be part of surviving $60-$75 oil, pointing to TOT and STO as having the most potential.
The firm cuts BP to Neutral because it thinks all its potential self-help has been priced into the stock.

[grupo] 11/4/2015 19:58

Apr. 28, 2015

First Quarter 2015 Results
.
May. 29, 2015

2015 Annual Shareholders' Meeting in Paris