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
  -0.0825 € -0.17% 47.695 € 47.295 € 48.095 € - - - 3,037,850 16:35:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 4,286.39

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Business Energy Oman signs pact with BP Singapore for selling LNG January 20, 2018 | 5:22 PM by ONA AddThis Sharing Buttons Share to FacebookShare to TwitterShare to PrintShare to EmailShare to More Times file picture [Oman signs pact with BP Singapore for selling LNG] Sharelines Oman signs pact with BP Singapore for selling LNG #Oman signs pact with #BPSingapore for selling LNG Muscat: Oman LNG and BP Singapore have signed a major sales and purchase agreement (SPA) for supplying liquefied natural gas (LNG) to the latter. The agreement, a free-on-board (FOB) contract starting from January 2018, will span over a period of seven years for lifting 1.1 million tonnes per annum (mtpa), which is equivalent to approximately 18 LNG cargoes a year. It will be an important boost to the global LNG market where Oman LNG currently contributes a significant amount. “The new agreement will not only unlock additional reserves but will also sustain our LNG business and expand our LNG business. Oman will continue to be a global preferred destination for sourcing clean energy,” said Mohammed Dr. Al Rumhy, Minister of Oil and Gas and the chairman of Oman LNG. “The revenues from this transaction will benefit Oman’s national economy and boost our gross domestic product and will also boost efforts towards In-Country Value (ICV) and Corporate Social Responsibility (CSR), all of which are significant drivers to the socio-economic fabric of the Sultanate.” The announcement was made by Harib Al Kitani, chief executive officer (CEO) of Oman LNG, and Jonathan Shepard, chief operating officer (COO) of BP LNG. The event was also attended by Al Rumhy as well as several top-level officials from the oil and gas industry in Oman. The LNG plant at Qalhat, in Sur, has the capacity to receive and process additional volumes as it has recently been operating with some spare capacity. “This agreement is a game changer for Oman and Oman LNG where it will provide benefits for the Sultanate through the export of new volumes of feed gas to customers in need of reliable, safe, clean energy. Another win is that the agreement will enable the plant to operate at full capacity and thus create more value and utilising the asset at maximum capacity. From the returns generated, Oman LNG can further invest in social projects and ICV opportunities enhancing the society of Oman at large,” said Al Kitani. “Our aim is to serve the community and contribute to all segments of the society through the exports of LNG.” “BP is pleased to expand its longstanding relationship with Oman LNG through the conclusion of this LNG sale and purchase agreement. Following the commencement of production from the Khazzan gas field, this development deepens BP’s commitment to Oman and strengthens our support for the Sultanate’s gas sector,” said Alan Haywood, chief executive officer of BP Integrated Supply and Trading. This agreement is strengthened by the reputation and credibility of Oman LNG as a reliable and trusted supplier, coupled with the effective management of all the business processes within Oman LNG, to produce clean energy, which is safely delivered to customers around the world. Oman’s liquefied natural gas industry was born out of the vision of His Majesty Sultan Qaboos bin Said to diversify the country’s economy and has attracted large revenue by harnessing natural gas resources for export as liquefied natural gas. The country produced its first shipment of liquefied natural gas in 2000 after the first of an initial two-train plant began operations under Oman LNG. With a third train under Qalhat LNG, liquefied natural gas has played an even greater role in contributing to the national economy as the two companies, that integrated in 2013 and now operate as Oman LNG, have worked intensely with outstanding success to drive their organisations forward. Oman LNG and BP have a well-established partnership dating back many years. A recent collaboration, in 2015, saw the two companies sign a multi-year partnership to support the professional training of Omani youths whereby the final term of BP’s Khazzan Technicians Training Programme is completed by a year of field experience provided by Oman LNG at their world-class plant in Qalhat. Through on-the-job training at the facilities within Oman, the programme supports nurturing the Omani youth locally while simultaneously contributing to in-country value, which is an additional benefit. Oman LNG operates as a joint venture with a shareholding structure comprising the Government of Oman (51 per cent), Shell Gas BV (30 per cent), Total SA (5.54 per cent), Korea LNG (5 per cent), Mitsubishi Corporation (2.77 per cent), Mitsui & Co. (2.77 per cent), Partex (Oman) Corporation (2 per cent), and Itochu (0.92 per cent).
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Royal Dutch Shell Joining the Renewable Energy Bandwagon Shell is the latest oil major to buy into renewable energy. Travis Hoium (TMFFlushDraw) Jan 20, 2018 at 6:46AM The oil majors have had a love-hate relationship with renewable energy over the past decade. Some (BP (NYSE:BP)) once saw it as a key to their future, only to divest from the business, and others (Total (NYSE:TOT)) have been slowly wading into renewables without taking any big risks. But it's become clear that renewable energy isn't going anywhere, and it might be the biggest threat facing the oil business long-term. Not only is renewable energy eating away at traditional fossil fuel consumption at utilities, it's becoming a fuel for transportation as millions of electric vehicles hit the road around the world. Royal Dutch Shell plc (NYSE:RDS-A)(NYSE:RDS-B) is the latest to realize it needs a foot in the renewable energy business, buying a 44% stake in renewable energy developer Silicon Ranch for up to $217 million in cash. And Shell may still be getting started building out its renewables strategy. Solar farm with a setting sun in the background. Image source: Getty Images. Shell joins the renewables business Silicon Ranch is a solar developer that has about 880 MW of projects under contract in the U.S. with a 1 GW pipeline of projects. It's not the biggest developer in the country, but it has a growing footprint and can leverage Shell's capital to grow. In 2021, Shell can increase the ownership stake beyond 44%. Shell also acquired MP2 Energy last year, an owner of natural gas and distributed solar assets like demand-response and solar. While these two deals don't make Shell a leader in renewable energy just yet, it could show a shifting attitude to renewable energy, a transition other companies have already gone through. And if Shell pushes both companies to grow it could build a sizable renewables business. Old energy companies are making plays for new energy assets Shell isn't the first oil company to make a move into renewables. The oil major making the most news in renewable energy is Total, the majority owner of solar manufacturer SunPower (NASDAQ:SPWR). Total has also acquired a stake in developer EREN Renewable Energy and acquired energy efficiency company GreenFlex, among others. Total has also begun to buy renewable energy projects on its own, essentially building an energy generating business under the Total banner. Utility AES (NYSE:AES) spent $853 million last year to buy sPower, developer of utility-scale solar systems. The company is in the midst of a strategy to sell off coal and other legacy fossil fuel assets and double down on renewable energy and energy storage. After divesting a solar manufacturing business a few years ago, BP has even gotten back in the renewable energy game with a $200 million investment in renewable developer Lightsource. You may notice a trend: oil and utility companies are beginning to invest in renewable energy developers rather than manufacturers. This is partly because asset ownership in the energy industry is a more stable business for them to invest in, but it also allows them to leverage their own development expertise and access to capital in renewables, rather than develop a new technology understanding in renewable manufacturing. Powered By The holdout in renewable energy One oil company's name is notably absent from the renewable energy business: ExxonMobil (NYSE:XOM). The company has intentionally stayed out of wind and solar, and has focused investment in alternative energy in fuels and carbon sequestration, although with very little commercial success. With major competitors Total, Shell, and BP investing billions in renewable energy to transition their business, ExxonMobil may eventually see that's where the future is. Shell is finally coming around and maybe just in time to build a sustainable renewable energy business to replace the aging oil business.
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Shell Takes a Last Exit From Mideast Oil -- WSJ 16/01/2018 8:02am Dow Jones News Shell A (LSE:RDSA) Intraday Stock Chart Today : Tuesday 16 January 2018 Click Here for more Shell A Charts. Energy company leaves last Iraqi site but keeps a presence in natural-gas industry By Sarah Kent and Benoit Faucon This article is being republished as part of our daily reproduction of articles that also appeared in the U.S. print edition of The Wall Street Journal (January 16, 2018). LONDON -- Royal Dutch Shell PLC is giving up on its last oil fields in Iraq, leaving the world's second-biggest oil company with a dwindling footprint in the Middle East -- a region it helped build into a petroleum powerhouse. Shell said Monday it is selling for an undisclosed amount a stake in the West Qurna 1 oil field in Iraq to Japan's Itochu Corp., the latest step in a gradual retreat from the region. The company is also expected to give up its holding in Iraq's Majnoon oil field later this year, though it will retain its natural-gas interests in the country. Shell's departure from Iraqi oil assets marks one of the final chapters in a slow pullback from the Middle East's vast fields of petroleum. Shell pumped as much as 450,000 barrels of oil in 2003 in the Middle East, and over the past 15 years had operations that produced thousands of barrels of oil daily across six countries in the region. Once it officially leaves Iraq later this year, Shell will have oil assets in Oman that produce about 220,000 barrels a day. Shell is keeping its considerable natural-gas interests in Middle Eastern countries, including Qatar, Oman, Egypt and Iraq, a strategy it has followed after its $50 billion deal to buy gas giant BG Group PLC in 2016. The deal also brought Shell big business in Brazil's offshore oil fields, where it has centered its oil-production strategy. "We have definitely not turned our back on the region, far from it," said Shell Chief Executive Ben van Beurden in November, referring to the Middle East. But he added that projects such as Majnoon "are increasingly less strategic in our portfolio." The move reflects the waning attraction of the Middle East's once-prized oil reserves, as companies find that the free flow of crude in the region often comes at a political or financial cost. U.S. oil giants Exxon Mobil Corp. and Chevron Corp. have ratcheted up their focus on shale interests on their home turf in recent years, though both retain interests in Iraq. In addition to the escalating security risks following the Arab Spring, oil contracts offered by Middle Eastern governments often don't have profitable terms, analysts say. Iraq has some of the toughest terms in the business. Foreign companies are paid fixed fees per barrel of oil pumped, terms that many in the industry say is low. "The terms are too tight for Shell," said Robin Mills, a former Shell executive involved in the Middle East who is now chief executive of Dubai-based Qamar Energy. For the British-Dutch oil giant, "it isn't worth the trouble." Shell declined to comment further on its footprint in the Middle East beyond confirming its exit from the West Qurna oil field. The company said it is still working to gain necessary approvals for the sale from the Iraqi government. Iraqi oil officials didn't respond to requests for comment. In the past year, Shell has had to contend with delays in Iraq including tardy government payments for pipelines and water-treatment facilities, according to Iraqi officials and contractors. Much of the Middle East's oil business is off limits to foreign companies, but a handful of countries including Iraq still offer the promise of barrels at relatively low prices. But the crash in oil prices over the last three years has helped lower the costs of production elsewhere in the world, including the U.S., where Shell has earmarked its shale interests as a catalyst for growth. Shell also has taken a number of steps in recent years that have reduced its presence in the region, passed on opportunities and been forced out by Western sanctions. Shell walked away from a bid to renew its rights to a massive oil concession in the United Arab Emirates -- a privilege that BP PLC and Total SA paid about $2 billion to keep but both Shell and Exxon didn't. The company stopped producing in both Syria and Iran after 2010 because of sanctions related to the Syrian civil war and Tehran's nuclear program, respectively. Shell has shown interest in returning to Iran, but it hasn't followed Total in signing a deal to invest in the country. The sanctions risk remains high, and Shell has struggled to find suitable, mainstream banks to enable its Iranian investments, people familiar with the matter say. Write to Sarah Kent at and Benoit Faucon at (END) Dow Jones Newswires January 16, 2018 02:47 ET (07:47 GMT)
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Total's average Q4 natural gas price realization at two-year high of $4.23/MMBtu London (Platts)--15 Jan 2018 930 am EST/1430 GMT France's Total reported Monday an average global realized gas price of $4.23/MMBtu in the fourth quarter of 2017, a two-year high, as cold weather in the US, Europe and northeast Asia in the latter part of the quarter triggered increased demand and higher wholesale prices. Gas prices boosted by cold weather, increased demand TTF averaged $6.60/MMBtu in Q4, NBP $6.84/MMBtu Q2, 2016 marked 14-year low point for French major Total's Q4 realized price was a 9% increase on the same quarter of 2016 and a 4% rise compared with the Q3, 2017 average price. The company's average realized price was last higher in the fourth quarter of 2015 when it was $4.45/MMBtu, before gas prices slumped to multi-year lows on slow demand and well supplied markets, especially in the US and Europe. The second quarter of 2016 still marks the 14-year low point for the French major's realized gas price at $3.43/MMBtu -- it was previously lower only in Q3, 2003 when the price dropped to just $3.04/MMBtu. Article continues below... Request a free trial of: European Gas Daily European Gas Daily European Gas Daily European Gas Daily is a flagship Platts publication that delivers crucial competitive intelligence across the entire European gas marketplace. It keeps you ahead of critical price changes and their effects on the industry -- to help you make informed market decisions. Request a free trial More Information Just under 40% of Total's gas production is concentrated in Europe and the Caspian region, which together accounted for 2.56 Bcf/d of the company's 6.43 Bcf/d output in Q3. Gas prices in Europe were up strongly in Q4 compared with Q3 on continued strong demand and some supply tightness. According to S&P Global Platts assessments, the average Dutch TTF day-ahead price in Q4 was $6.60/MMBtu and the equivalent UK NBP price was $6.84/MMBtu. That compares with $5.54/MMBtu on the TTF in Q3, while the equivalent UK NBP price was $5.41/MMBtu. Total is less exposed than some of its European peers to the low US gas prices, with production in the Americas making up just one sixth of its total gas output. Total's realized gas prices ($/MMBtu) Q4 2017 4.23 Q3 2017 4.05 Q2 2017 3.93 Q1 2017 4.10 Q4 2016 3.89 Q3 2016 3.45 Q2 2016 3.43 Q1 2016 3.46 Q4 2015 4.45 Q3 2015 4.47 Q2 2015 4.67 Q1 2015 5.38 Q4 2014 6.29 Q3 2014 6.40 Q2 2014 6.52 Q1 2014 7.06 --Stuart Elliott, --Edited by Jeremy Lovell,
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TEHRAN (FNA)- Iranian Minister of Petroleum Bijan Zangeneh said the National Iranian Oil Company (NIOC)'s gas deal with French energy giant Total is being executed on schedule and all the project's tenders, excluding one for drilling operations, have been held. The official said all the contractors, except for one, who have signed in the tenders are domestic companies. In July 2017, Total and the National Iranian Oil Company (NIOC) signed a contract for the development and production of phase 11 of South Pars (SP11), the world's largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including condensate. The produced gas will supply the Iranian domestic market starting in 2021. This contract, which has a 20-year duration, is the first Iranian Petroleum Contract (IPC) and is based on the technical, contractual and commercial terms as per the Heads of Agreement signed on November 8, 2016. Total is the operator of the SP11 project with a 50.1% interest alongside the Chinese state-owned oil and gas company CNPC (30%), and Petropars (19.9%), a wholly owned subsidiary of NIOC.
‘Shell is considering bidding for Dutch green energy group Eneco’ Business January 12, 2018 Photo: Anglo-Dutch oil and gas group Shell is making preparations to bid for green energy firm Eneco whose owners, made up of 53 local councils, are divided about its future, the Telegraaf said on Friday. At the same time, a dispute between the local authority shareholders and the company’s board is threatening to slow down the sale process, the paper said. Shell has hired an unnamed US-based merchant bank to help it in a possible bid for Eneco, sources within the banking industry told the paper. But Shell itself reacted with a short and powerful ‘no comment’, the Telegraaf said. Shell is not the only fossil fuel giant considering a bid for the Dutch green energy group. According to the paper, Shell’s French rival Total also contacted advisors this month about a possible bid. A sale could raise about €3bn which would come in handy for the 53 local councils which currently own Eneco and 75% of them back a sale. Nevertheless, 29 of the city councils involved – representing some 85% of the shares – have recently written to the aldermen in charge of the sale, saying they had lost confidence in Eneco’s supervisory board and demanding an extraordinary shareholders’ meeting. Fossil fuels Despite Shell’s poor ‘fossil fuel’ image, the company offers many advantages to Eneco board members and shareholders, the Telegraaf said. For example, the company could easily finance a takeover without having to borrow money and is unlikely to dismiss staff or close its headquarters unit. Other potential buyers include investment company HAL, pension fund PGGM, Japan’s Mitsubishi, Austrian energy group Vebund, private equity group CVC and French energy giant Engie. Read more at ‘Shell is considering bidding for Dutch green energy group Eneco’ Http://
Oil Companies to Sign Contract with Lebanon at the End of January Beirut, Jan 11 (Prensa Latina) At the end of this month, three oil companies will sign contracts with the Lebanese government to begin the exploration of oil and gas in maritime blocks in 2019, Energy and Water Minister Cesar Abi Khalil announced today. The Council of Ministers gave permission in December to specify the authorization by means of which the companies Total, of France; Eni, from Italy, and Novatek, from Russia, will begin prospecting work in coastal areas of the north and south. That trio of companies won a tender submitted by the Lebanese government to award blocks four and nine. Earlier, Lebanese Foreign Minister Gebran Bassil considered an act of resistance against Israel, the granting of licenses to explore oil and gas in Lebanese jurisdictional waters. Bassil said the permits to track black gold in blocks four and nine are a way of reaffirming Lebanese law in the border area disputed with Israel. The nation of cedars requested assistance from UN experts in order to limit a triangular area of 870 square kilometers on the southern maritime border, but Israel rejects external mediation. At the time, the Speaker of the Parliament, Nabih Berri, sought support from the office of the United States Special Coordinator for Lebanon with the objective of negotiating an agreement with the Tel Aviv regime. sgl/lrp/mem/arc
France's Total SA (FP.FR) said late Tuesday that shareholders exercised 21% of their rights to receive their dividend payment in shares, leading the company to issue 7 million new shares. The figure represents 0.28% of the company's total share capital at year's end, Total said. It will pay out the remaining dividend--totaling 1.2 billion euros ($ 1.47 billion)--in cash on Jan. 11, when it issues the new shares. Total had given shareholders the option to receive the second interim dividend in shares or in cash after a board meeting on Dec. 12. Write to Alberto Delclaux at (END) Dow Jones Newswires January 10, 2018 01:33 ET (06:33 GMT)
Alexander Bueso WebFG News 08 Jan, 2018 15:35 Morgan Stanley ups targets for BP and Shell, despite 'peak oil demand' concerns BP, oil, gas Total 48.04 16:35:22 08/01/18 0.44% 0.21 BP 527.40 16:35:20 08/01/18 -0.42% -2.20 Royal Dutch Shell 'A' 2,525.50 16:35:22 08/01/18 -0.18% -4.50 Royal Dutch Shell 'B' 2,560.00 16:35:06 08/01/18 -0.12% -3.00 Eni 14.52 15:56 08/01/18 0.62% 0.09 Statoil 182.90 15:25:03 08/01/18 0.33% 0.60 FTSE 100 7,696.51 16:35:30 08/01/18 -0.36% -27.71 CAC 40 5,487.42 17:05:01 08/01/18 0.30% 16.67 FTSE MIB Index 22,845.69 18:29 08/01/18 0.37% 83.40 DJ EURO STOXX 50 3,616.45 16:50:00 08/01/18 0.24% 8.82 FTSEurofirst 300 1,565.73 17:20:33 08/01/18 0.23% 3.60 Oil & Gas Producers 9,171.60 16:20 08/01/18 -0.23% -20.90 FTSE 350 4,285.63 16:35:30 08/01/18 -0.36% -15.46 FTSE All-Share 4,231.99 16:40:15 08/01/18 -0.34% -14.38 Energy Producers 0.00 16:17 25/09/06 0.00% 0.00 Analysts at Morgan Stanley revised their price targets for a broad swathe of the European oil majors higher, despite 'peak oil demand' concerns in the marketplace, naming BP and Shell as their 'top picks' in the process. Following three years of painful 'self-help' and restructuring, the oil majors were likely to see the full benefit of those measures flow-through in 2018, they said. Hence, they revised their targets for the pair from 595p and 2,930p to 645p and 3,040p, respectively. "Coinciding with an improvement in oil market fundamentals and a rally in prices, the impact on FCF could be dramatic," the broker said. Their output was set to continue growing at roughly a 3.5% pace each year out to 2020, as new projects continued to ramp-up, while downstream earnings - which had doubled since 2014 - were seen rising further. In parallel, cuts to capital expenditures and operating expenditures of approximately 40% and 20%, respectively, since 2014, were also likely to stick, they said. Neither was there much cost inflation on the horizon and debt reduction would continue to be a priority. "With the oil price collapse still fresh in the mind of managements,and the looming threat of 'peak oil demand', we expect the focus on cost and capital discipline to stay intense, aiding the FCF recovery." "'Peak demand' concerns may weigh but probably won't prevent outperformance: 'Peak oil demand'has also become a bigger part of the debate however,ant it is therefore a genuine question whether the market will still value the sector in the same way as in the past. Inside we argue that this is still likely. History is still a guide to the future when it comes to Big Oil valuations." In the same research note, Morgan Stanley also upped its targets for Eni (from €13.4 to €14.6), Statoil (from Nkr 159 to Nkr 173) and Total (from €55.0 to €56.0).
DIVI PAYMENT DUE 11/01/2018 Acompte 0.62€
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Financial Announcements & Roadshows 08 FEB 2018 2017 Results & Outlook Presentation 26 APRIL 2018 First Quarter 2018 Results 01 JUNE 2018 Annual Shareholders Meeting 26 JULY 2018 Second Quarter 2018 Results 25 SEPTEMBER 2018 Strategy & Outlook Presentation 2018 26 OCTOBER 2018 Third Quarter 2018 Results
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Total’s $16bn Egina FPSO to reach Nigeria by Q1 2018 By Oil and Gas Republic on Jan 4, 2018@ogrepublic Share Tweet Share Share 0 comments Total Egina FPSO Total’s $16 billion Egina FPSO project have left the port of Gohyeon, Geoje shipyard in South Korea on October 31st, 2017, sailing to Nigeria for the final integration. Confirming the development, Chief Operating Officer of Samsung in Nigeria, Mr. Frank Ejizu, said the sail of the FPSO was a great achievement for the oil and gas industry and Nigerian economy. SHI won the contract to build Egina FPSO in 2013, a turn-key project in which Samsung covered the entire engineering, procurement, construction, transport, and commissioning of the 2.3 million barrels capacity FPSO for the Egina oil field, located in Oil Mining Lease (OML) 130, offshore Nigeria. The Egina FPSO, built by Samsung Heavy Industries (SHI) for Total Upstream Nigeria Limited (TUPNI) for the 200,000 barrels per day Nigeria’s Egina deepwater field, sails to Lagos for integration in the Samsung Yard (SHI-MCI FZE) in Tarkwa Bay, the first Floating Production Storage Offshore (FPSO) module fabrication and integration facility in Africa. SHI has now successfully built three massive offshore projects. Namely, the Ichthys CPF, the world’s largest floating gas processing facility, which was delivered in April 2017 and Prelude FLNG, the world’s largest FLNG, left Geoje in June 2017. Total’s Egina FPSO project is under the Nigerian local content regulations, and in executing the project SHI formed a joint venture (SHI-MCI) with a Nigerian local company, established a production facility in Lagos, Nigeria to meet the local content requirements. The remaining topside module integration and commissioning will take place in Nigeria for scheduled delivery in the second half of 2018. It will create thousands of job opportunities and will be promoting the Nigerian Local Content. Following completion, the FPSO will be moored at the Total-operated Egina oil field, located some 130 km off the coast of Nigeria at water depths of more than 1,500 meters. Apart from the FPSO, infrastructure on the field will consist of an oil offloading terminal, and subsea production systems that will include 52 kilometers of oil and water injection flowlines, 12 flexible jumpers, 20 kilometers of gas export pipelines, 80 kilometers of umbilicals, and subsea manifolds. Managing Director and Chief Executive of Total Upstream Companies in Nigeria, Nicolas Terraz, confirmed to the media on the recent 2017 Nigeria Annual International Conference and Exhibition of the Society for Petroleum Engineers (SPE), that the Egina FPSO has sailed away from Samsung Heavy Industries yard in South Korea heading to Nigeria. Represented by the company’s executive director in charge of corporate affairs and services, Abiodun Afolabi, he said that the FPSO will arrive in Nigeria after the fourth quarter where the six locally fabricated topside modules will be integrated on the FPSO at SHI-MCI Yard before final sail-away to Egina field, deep offshore Nigeria. Furthermore, after the local integration of the six FPSO’s modules and over 8,000 tons of structures, the FPSO will sail away to the Egina oil field, which will add 200,000 barrels per day to Nigeria’s current crude oil production when it comes on stream in 2018. The Nigerian Maritime Administration and Safety Agency (NIMASA), has commenced preparations to receive the vessel amid tight security and safety procedures. The Director General, NIMASA, Dakuku Peterside, said the Egina project, is the first of its kind in the history of Nigeria, and will increase the knowledge base of NIMASA and ultimately fetch the country the much needed foreign exchange. The Director General visited the Samsung Shipyard in the Samsung Heavy Industries in Geoje, South Korea to inspect the project. He said that the Total’s Egina FPSO Project is the first of its kind in Nigeria as it will increase knowledge base of inspection techniques, certification and rules for maintaining classification and ultimately benefit the Nigerian economy in terms of foreign exchange. He also assured Total and other prospective investors that NIMASA would continue to create a conducive environment to build investors’ confidence to enable them come up with more projects. He further commended Samsung and Total E&P for building confidence in Nigerian local content, and efforts to comply with the Nigerian Content Law. He also urged the Executive Vice President of Samsung to ensure compliance to the Cabotage Law and other enabling Nigerian laws when the FPSO berths in Nigeria.
Pertamina Takes Over Operation of Indonesia's Largest Oil and Gas Field Pertamina started operating the Mahakam block offshore East Kalimantan on Monday (01/01), completing the takeover of Indonesia's largest oil and gas block from France's Total E&P Indonesie and Japan's Inpex. (Antara Photo/Akbar Nugroho Gumay) By : Whisnu Bagus Prasetyo | on 5:49 PM January 01, 2018 Category : Business, Corporate News Jakarta. State energy company Pertamina started operating the Mahakam block offshore East Kalimantan on Monday (01/01), completing the takeover of Indonesia's largest oil and gas block from France's Total E&P Indonesie and Japan's Inpex. Total and Inpex have operated the block for 50 years, with oil and gas output contributing about 13 percent of Indonesia's total production. "As a representative of the Indonesian government, we would like to acknowledge the contribution and hard work by Total E&P Indonesie as contractor on the Mahakam oil and gas block and Inpex Indonesia as its partner," Amien Sunaryadi, the head of SKK Migas, Indonesia's upstream oil and gas regulator, said on Monday. This takeover will see Pertamina contributing more than 30 percent of the nation's oil and gas production in 2018. Subsidiary Pertamina Hulu Mahakam, which will handle the block's operation, has retained about 98 percent of the workers employed by the previous operators. Pertamina Hulu Mahakam has also maintained contracts worth $1.27 billion in total with existing contractors to ensure continuity of production, said Syamsu Alam, Pertamina's upstream director. Pertamina has set aside $1.7 billion for exploration, development and production activities in the Mahakam block this year to maintain the production rate. The block produced around 52,000 barrels of oil and 1.36 million cubic feet of natural gas per day in November, the latest data from SKK Migas shows. The block had proven reserves of 4.9 trillion cubic feet of gas, 57 million barrels of oil and 45 million barrels of condensate as of Jan. 1, 2016. SKK Migas has set a target for the Mahakam block to produce 42,010 barrels of oil and 916 million standard cubic feet of gas per day this year. Pertamina Hulu Mahakam plans to drill up to 69 exploration wells, up from 14 currently, to search for new reserves.
TOTAL: Under resistances, consolidation is likely TEC on 01/01/2018 at 08:20 0 Tweet TOTAL: Under resistances, consolidation is likely SYNTHESIS The MACD is negative and below its signal line. This configuration degrades the outlook on the title. The RSI does not yet indicate an oversold so the further decline is technically possible. Stochastic indicators do not give clear signals for the coming days. The traded volumes are below average volumes over the last 10 days. MOVEMENTS AND LEVELS The title is downward. It is below its 50-day moving average at 46.64 EUR. The 20-day moving average is below the 50-day moving average. Our first support is 44.93 EUR, then 44.28 EUR and the resistance is 47.89 EUR, then 48.55 EUR. Last class: 46.04 Support: 44.93 / 44.28 Resist: 47.89 / 48.55 Short term opinion: negative Medium term opinion: negative
UK's Elgin Franklin natural gas field production 'back to normal levels' London (Platts)--28 Dec 2017 705 am EST/1205 GMT Natural gas production at the Elgin Franklin field in to North Sea is "back to normal levels," operator Total said in a REMIT message Thursday morning. 8.5 mil cu m/d available capacity for Thursday's gas day Gas flows into Bacton SEAL running at 9 mil cu m/d Full 10 mil cu m/d capacity due by early Friday Elgin Franklin, which has a technical capacity of 10 million cu m/d, will have 8.5 million cu m/d of available capacity during Thursday's gas day. Total said that "delivery to Bacton SEAL will slowly increase over the course of the day to normal rates." National Grid data showed that flows into the UK National Transmission System through the Bacton SEAL receiving terminal were running at 9 million cu m/d at 1030 GMT Thursday. Gas production at Elgin Franklin was halted on December 12 due to the closure of the Forties Pipeline System, where flows resumed earlier in the week. Ineos said in an update Thursday morning that the repair of the pipeline at Red Moss was "mechanically complete," and that "all restrictions on the flow of oil and gas from platforms feeding into the pipeline system have been fully lifted." --Gary Hornby, --Edited by Maurice Geller,
Two top oil major share picks for 2018 By Graeme Evans | Thu, 28th December 2017 - 09:34 Share this Two top oil major share picks for 2018 The journey has been long and hard, but there's a good chance that 2018 will mark a "sweet spot" for oil majors Royal Dutch Shell (RDSB) and BP (BP.). That's the view of UBS analysts, who believe there's now a clearer picture of the industry after three years in which companies have scrambled to bring down costs and investment levels in line with oil prices. In their note "The end of the beginning", UBS's European oil and gas team said an oil price in the $60 to $80 a barrel range now looked increasingly plausible. They added: "We could be entering the sweet spot for the integrated sector with oil prices recovering, the downstream strong and spending under control." Having reset their businesses between 2015 and 2017, UBS estimates that the point of cash neutrality for oil majors is likely to be $51 dollars a barrel in 2018. This figure crossed below the oil price in the second half of 2017. They said: "The prospect for 2018 and 2019 is a sector that funds its investments and dividends and can generate attractive free cash flow (FCF) over and above that. "We expect the excess FCF to be used to reduce debt, reduce equity in issuance and perhaps some tactical M&A." Cash returned to shareholders is calculated to rise by 48% in 2018 versus 2017. UBS makes no apology for having the same two top picks for 2018 as in 2017 - Royal Dutch Shell and Eni (E). It said Royal Dutch Shell continues to represent the best example of the integrated business model. Its preference for Shell is based on a qualitative judgement of its portfolio and an upside comparison with the much higher-rated international peer, ExxonMobil (XOM). UBS believes that 2018 will be a year of execution for Shell, having been through the pain of resetting its financial model and dealing with the market's negative reaction to its acquisition of BG Group. UBS said the criticism of the BG deal misunderstood the weakening competitive position of the legacy Shell portfolio and the quality of the acquisition. It added that recent Shell investor days have highlighted the value that this deal has brought, and the catalyst it represented on the wider restructuring of the group, which is not fully appreciated by the market. UBS has a price target of 2,675p, which is based on a 2018 enterprise value (EV)/ debt-adjusted cash flow multiple of 7.4. This is about a 25% premium to the three-year average, reflecting improved capital productivity, and a modest premium to European peers reflecting the company's portfolio advantage. BP and Total (TTA) are also 'buys' as they join Shell in the "sweet spot" for shareholder value generation. BP has made significant strategic progress in 2017, while its Gulf of Mexico oil spill payments are expected to tail off significantly in 2018. Six of its seven major projects for 2017 have started up, with the other about to get underway. UBS forecasts 2016-21 production growth at about 3% per annum. The company's downstream operations have also been surprisingly strong, with retail, brand driven marketing and lubricants justifying a premium to the corporate multiple. UBS has a 'buy' recommendation and 550p price target based on an EV multiple of 7.0, with projected 2018 dividend yield of 6.1%.
Providence Resources PLC (PZQA.DB) said Thursday that Total S.A. (FP.FR) has exercised its farm-in option for a 35% interest and operatorship in the Frontier Exploration License 2/14 in the southern Porcupine Basin, leaving the Irish firm with a 28% interest. The Irish-based oil-and-gas exploration company said in June that it had entered into the option agreement with Total E&P Ireland B.V., a wholly owned subsidiary of Total S.A. The deal is conditional upon approval by the Minister of State at the Department of Communications, Climate Action and Environment. As announced on June 7, Total has paid $27 million to Providence and its partner Sosina Exploration Ltd., $21.6 million of which has been paid to Providence. Capricorn Ireland Ltd., a subsidiary of Cairn Energy PLC (CNE.LN) has a 30% interest in the license, with Sosina Exploration owning 14%. Providence also said that farm-out talks over the Barryroe Field--Standard Exploration License 1/11--continue and that it has granted a potential partner a period of exclusivity in order to conclude contractual negotiations. Shares at 0820 GMT were up 0.50 pence, or 8.5%, at 6.38 pence. Write to Ian Walker at; @IanWalk40289749 (END) Dow Jones Newswires December 28, 2017 03:45 ET (08:45 GMT)
TOTAL: The downtrend can resume TEC on 25/12/2017 at 07:54 0 Tweet TOTAL: The downtrend can resume SYNTHESIS The MACD is negative and below its signal line. This configuration degrades the outlook on the title. The RSI does not yet indicate an oversold so the further decline is technically possible. Stochastic indicators do not give clear signals for the coming days. The traded volumes are below average volumes over the last 10 days. MOVEMENTS AND LEVELS The bullish movement seems to be stopped. The stock is below its 50-day moving average at 46.58 EUR. The first support is 44.75 EUR, then 44.11 EUR and the resistance is 47.94 EUR, then 48.89 EUR. Last class: 46.47 Support: 44.75 / 44.11 Resistance: 47.94 / 48.89 Short term opinion: negative Medium term opinion: neutral
Interview: Total Marine Fuels gears up for IMO 2020 rule, eyes LNG bunker fuel growth Singapore (Platts)--21 Dec 2017 1014 pm EST/314 GMT Global bunker supplier and trader Total Marine Fuels Global Solutions is gearing up for the International Maritime Organization's 2020 global sulfur cap rule for marine fuels, with LNG emerging as a key bunker fuel solution for some of its customers, Managing Director Olivier Jouny told S&P Global Platts in an interview last week. He added that "2020 is a real date, and there will be no way to escape it. We believe there is no one solution. It will vary from customer to customer, depending on a variety of factors, including the type of fleet, areas where shipowners are operating, whether they are looking for a solution for newbuilds or existing fleet." Total Marine Fuels Global Solutions, for its part, is already working with its other entities -- refineries, trading, logistics, research and development -- to come up with 2020-compliant marine fuel solutions, Jouny said. The company will provide three main options -- 0.5% sulfur compliant fuels, HSFO with scrubbers and LNG bunkering -- to its customers. However, with regards to 0.5% sulfur fuels, it is too early to give an exact recipe, Jouny said. "Total also has a large track record in adapting its refineries to the evolving fuel oil mix, as illustrated by the very recent upgrade of the Antwerp integrated refining and petrochemicals platform," Jouny said. Article continues below... Platts Bunker Portfolio: An unrivalled blend of bunker intelligence. Take a trial of Platts Bunkerworld or receive a sample supplier credit report from Platts Ocean Intelligence. Bunkerwire/Ocean Intelligence In the bunker market, it’s not just the blend of fuel that has to be right. Whatever your position in the supply chain, the combination of business intelligence you use is also crucial. From breaking news to detailed market analysis, price assessments to in-depth credit reports, Platts Bunker Portfolio offers a unique mix of products to fuel your decision making. Compiled by the industry’s largest team of market specialists and accessed via flexibly priced package options, Platts Bunker Portfolio offers you a range of bunker products you simply won’t find anywhere else. Request a free trial More Information The plethora of blended and new fuel formulations that will emerge, is also likely to lead to issues around stability and compatibility of the fuels. "Compatibility and stability among the various blends are definitely an area of concern globally. We, along with our R&D centers, are looking at what's a good blend. We are presently carrying out some laboratory tests; we will go in for trials in 2018 with our key customers to ensure we are prepared for 2020," Jouny said. LNG BUNKERING "We want to be a major player in the LNG bunker market. Our market share in the LNG bunker market will be definitely bigger than that in our conventional marine fuel business," Jouny said, adding that the LNG bunkering market was growing very rapidly. He estimated that the global demand for LNG as a marine fuel would touch 1 million-1.5 million mt by 2020 and reach about 20 million-30 million mt by 2030, from the current figure of less than 500,000 mt. LNG bunkering will be particularly attractive for certain segments of the shipping markets -- such as newbuilds and for vessels such as ferries, cruise ships and containers which traverse fixed routes, Jouny said, adding that the predominant areas for LNG bunkering will be ports in Asia and Europe, where LNG bunkering infrastructure is either already present or is developing. Global capital expenditure, financial constraints, access to LNG, and the need for in-depth technical expertise will restrict the number of players in this space. "We have an advantage, as we are in both bunkering and LNG, and can definitely be a dominant LNG bunker player," he said. The company has reached a significant milestone in this regard. Earlier this month, Total announced that it had signed a strategic agreement with CMA CGM to provide LNG to fuel the French shipping group's nine newbuild ultra-large container vessels. The new agreement covers the supply of about 300,000 mt/year of LNG for 10 years starting 2020, illustrating a huge uptake in the potential of LNG as a marine fuel. As part of the agreement, the company also plans to charter an LNG bunker tanker. "We have entered into a consultation with a number of shipowners and we have to take a decision quite soon," Jouny told Platts. Four key elements to consider: the vessel should be 18,000 cu m or more so that LNG bunkering can take place in one stem; it should be highly maneuverable to serve high traffic areas and congested ports; it should meet high safety standards; and it should be in line with environmental standards to ensure there is no gas flaring during routine bunkering operations. In addition to the CMA CGM deal in July, TMFGS also signed an agreement with Brittany Ferries to supply LNG to its vessel, the Honfleur, in the port of Ouistreham, France. To address the lack of LNG infrastructure in the ports served by the Honfleur, TMFGS partnered with two other French companies -- Dunkerque LNG and Groupe Charles Andre -- to implement a supply chain solution using ISO containers for LNG bunkering. The company also inked a deal with Singapore's Pavilion Gas to co-operate on LNG bunkering in the city-port. Under the agreement, Pavilion Gas, a wholly owned subsidiary of Pavilion Energy, will supply LNG as a bunker fuel to TMFGS, according to a statement released in April. COMPLIANCE TO IMO 2020 While TMFGS is preparing for 2020, it is also cautious about the enforcement of the upcoming rule as 100% compliance will be difficult to achieve, Jouny said. A report by OPEC in November, for example, said that just 60% of bunker demand will be compliant with the sulfur limit in 2020. "We do believe that our customers, who are also some of the big names, are going to fulfill the requirements [of the rule]. However, if there is no signal from the market that enforcement is compulsory, smaller shipowners may not comply, meaning that there will no longer be a level playing field," Jouny said. "The 2020 global sulfur cap rule is a major change for the industry and it should be respected. Our commitment is to be transparent and we will support any initiative [as a supplier] required to support enforcement," he added. In February 2018, the IMO is expected to discuss a proposal made by the International Bunker Industry Association to introduce a ban on the carriage of HSFO as bunkers on ships without scrubbers. If this proposal is accepted and enforced globally, TMFGS, who is also an IBIA member, will definitely support it, Jouny said. -- Surabhi Sahu, -- Edited by Geetha Narayanasamy,
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