Total Share Discussion Threads

[grupo guitarlumber] 02/8/2011 12:52

Le mardi 2 août 2011, à 12h 17
(CercleFinance.com) - Crédit Suisse maintient son opinion 'sous-performance' sur Total (Euronext: FP.NX - actualité) et abaisse son objectif de cours de 46,5 à 46 euros, percevant trop d'éléments défavorables autour de la valeur

[ariane] 30/4/2011 07:49

Total invests £800m in US solar power firmFrench oil company is to buy 60% of SunPower Corporation, the second biggest solar panel manufacturer in America



Share14 Terry Macalister guardian.co.uk, Friday 29 April 2011 16.37 BST Article history
Total will use its investment in SunPower Corporation as a springboard into the green energy sector. Photograph Claude Paris/AP
Total, one of the world's largest oil companies, is to make a $1.38bn (£800m) investment in solar power reversing a trend that has seen Shell and BP cut back their involvement in green energy.

France's biggest company is to purchase 60% of SunPower Corporation, the second biggest solar panel manufacturer in America, and use it as a new springboard into a renewable sector struggling for competitive edge.

Shares in SunPower surged 40% after it revealed a "friendly tender offer" from an oil company that had been expected to put major new investment into nuclear rather than solar or wind, at least until the Japanese earthquake raised new questions about the safety of atomic power.

"The world future energy balance will be the result of a long-term transition in which renewable energies will take their place alongside conventional resources," said Philippe Boisseau, president of Total's gas and power division.

Total has been raking in enormous profits from oil at $120 a barrel – but is said to see renewables energy as a useful hedge. High crude prices make alternative power sources more attractive but the solar industry has also been hit in places such as Britain, Germany and Spain which have started to cut their public subsidies as part of wider plans to reduce debt levels.

Total is not an entire newcomer to renewables. It has held a half share in two solar firms since the early 1980's – Photovoltech and Tenesol. In November Total unveiled plans to build a solar panel manufacturing plant in the Moselle region of France with annual capacity of 220,000 solar panels a year. The oil company will now inject $1bn into SunPower over the next five years allowing the US solar business to "accelerate our power plant and development business," according to its chief executive Tom Werner. SunPower has been hit by mounting competition from lower cost Chinese panel makers but still claims to design, manufacture and deliver the highest efficiency solar products in the industry.

BP and Shell made major forays into renewables but have backed off in recent years. BP shut down its stand alone Alternative Energy head office while Shell sold off a major part of its photovoltaic module production to SolarWorld of Germany in 2006 and then disposed of its solar rural business in the developing world.

Total had been investing in nuclear having acquired an 8.33% interest, in the consortium commissioned to develop the European pressurized reactor project in Penly, France, with EDF and GDF Suez.

The Fukushima plant accident – coupled with the 25th anniversary of the Chernobyl accident – has spread a pall of negativity over nuclear energy business.

[grupo guitarlumber] 14/3/2011 13:03

France Extends Shale Gas, Oil Exploration Ban as 'Precaution'
By Tara Patel - Mar 14, 2011 8:25 AM GMT+0100 Tweet inShare.0More
Business ExchangeBuzz up!DiggPrint Email .France extended a ban on searching for natural gas and oil in shale rock until two reports on the environmental and economic effects of exploring for the unconventional resources are published in June.

Prime Minister Francois Fillon ordered that "no unconventional drilling take place" until the government and parliamentary reports are made public, according to a statement from March 11. France last month imposed a moratorium until at least mid-April and the extension rests on the "principal of precaution" because of environmental risk, he said.

Explorers for shale gas and oil in France had started drilling in some cases or were preparing to begin on permits awarded by the government in the Paris Basin area around the capital, as well as in the country's south. Environmental groups have said drilling risks contaminating the water supply because chemicals are used when blasting shale to extract resources, a method that has also met opposition in the U.S.

"Exploration work for shale oil and gas has sparked legitimate questions from populations living near the sites," the French prime minister said.

Toreador Resources Corp. (TRGL) planned this month to drill the first of three wells at the Chateau Thierry permit outside Paris to explore for shale oil, while Vermilion Energy Inc. was planning to fracture shale in three existing wells after exploration last year, the government and companies have said.

Total SA holds the southern French Montelimar permit for shale gas while GDF Suez (GSZ) SA has had talks with Schuepbach Energy LLC on taking a stake in two permits that company holds in southern France to explore for unconventional gas.

"We don't even know whether there is shale gas," Total Chief Executive Officer Christophe de Margerie said March 11. "We'll wait until everyone agrees on what should be done or not."

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Tara Patel at [e-mail]
.

[waldron] 11/3/2011 12:03

UPDATE: Total CEO: There Is Enough Oil Supply To Match Demand
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Total S.A (NYSE:TOT)
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Today : Friday 11 March 2011
The oil market has enough supply to meet demand despite the output decline in Libya, although if consumption doesn't slow the market might become unbalanced in the near term, Christophe de Margerie, chief executive officer of French oil major Total SA (TOT), said Friday.

There is plenty of oil on the market, he told reporters.

Libya's oil output has fallen to between 200,000 and 300,000 barrels a day from 1.6 million barrels a day before the crisis, de Margerie said, adding Total is no longer producing in Libya. The group stopped all operations there last week, when the last employees were removed from its offshore Al-Jurf field. It stopped operations at its Mabruk site "long ago," de Margerie said.

Although some ships are reportedly able to leave Libya's main oil terminal, it is difficult to say how much oil is leaving the country, he said.

De Margerie said oil prices are likely to stay high in the coming years, even though the speculation seen when the crisis in the Maghreb countries emerged has seen slowly decreased.

He said the increase in oil prices is unlikely to have any impact on demand for diesel and gasoline in France. The recent appreciation of the euro against the dollar has partially offset the increase of oil price, he said.

Total continues its plan to sell its Lindsey refinery, located in the U.K., de Margerie said. The process is taking some time because of the current conditions of the refining market, he said, adding he is confident Lindsey will be sold eventually.

Total will have fewer difficulties selling its U.K. marketing operations, he said.

- By Geraldine Amiel and Inti Landauro, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 06/3/2011 07:51

EX DIVI 23 MAY & PAY DATE 26 MAY

[waldron] 03/3/2011 11:44

Total Agrees To Buy $4 Billion Novatek Stake, Join Arctic Project
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Total S.A (NYSE:TOT)
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Today : Thursday 3 March 2011
French energy giant Total SA (TOT) has secured a $4 billion deal to buy a stake in Russian gas producer OAO Novatek (NVTK.RS) and to join a massive Arctic gas project, in another sign that Russia is opening up foreign investments to its vast energy resources.

Total has agreed to pay $4 billion for a 12% share in Russia's biggest independent gas producer Novatek, to take a seat on the company's board and raise its equity stake to 19.4% within three years, the French company said late Wednesday.

The deal comes less than two months after U.K. oil major Bp PLC (BP) announced a $16 billion share swap deal and development of three offshore Arctic licenses with Russian state oil producer OAO Rosneft (ROSN.RS).

The agreement was signed during a meeting between Total's Chairman and Chief Executive Christophe de Margerie and Russian Prime Minister Vladimir Putin. It gives Total a 20% share of Novatek's liquefied natural gas, or LNG, project in Russia's northern Yamal Peninsula.

Observers say recent energy deals involving both Total and BP show that the attractiveness of Russia's energy resources overshadows the risks of doing business in the country.

"These deals also show that international energy companies have few alternatives to Russia if they want to get access to major new resources," said Chris Weafer, chief strategist at UralSib investment bank.

Total said the acquisition will give the company access to production of 120,000 barrels of oil equivalent a day and to proven and probable reserves of around 1 billion barrels.

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 13/2/2011 08:13

Total Aims to Increase Investment as Profit Climbs 23%
By Tara Patel - Feb 11, 2011 6:22 PM GMT+0100
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Business ExchangeBuzz up!DiggPrint Email . Total SA Chief Executive Officer Christophe de Margerie. Photographer: Fabrice Dimier/Bloomberg
Total SA, Europe's third-largest oil producer, reported fourth-quarter profit climbed 23 percent and said 2011 investments will rise to $20 billion to increase output that flattened in the latest period.

Profit excluding changes in inventories and the value of a stake in Sanofi-Aventis SA rose to 2.6 billion euros ($3.5 billion) from 2.08 billion euros a year earlier, the Paris-based company said today in a statement. That beat the 2.5 billion- euro average of 16 analysts surveyed by Bloomberg. Net income dropped 1.5 percent to 2.03 billion euros.

Total expects output to be little changed this year because of a lull in startups and has pledged to explore more aggressively for oil and gas. The Paris-based company reversed a production slump that touched a nine-year low in 2009 by starting new fields and liquefied natural gas projects, and has forecast average output growth of 2 percent a year through 2015.

"Earnings are below our expectations mainly due to flat production," said Alexandre Andlauer, an analyst at Alphavalue SAA. "We will focus on the new exploration strategy."

The shares fell 0.01 percent to 43.445 euros in Paris. They've advanced 4.6 percent in the last year while the benchmark SBF-250 Index added 16 percent.

Fourth-quarter production rose 0.4 percent to 2.39 million barrels of oil equivalent a day compared with a year earlier, according to the statement. Total replaced 124 percent of the oil and gas reserves used last year.

'Bolder Exploration'
The year was marked by a new strategy for a "bolder exploration program and profound changes to the portfolio," Chief Executive Officer Christophe de Margerie said in the statement.

Investment excluding acquisitions is expected to rise to $20 billion from $18 billion a year earlier. Exploration and production spending will account for 80 percent of the total while the planned exploration budget will be $2.1 billion compared with $1.8 billion in 2010.

"The company's medium-term financial framework is one of very modest growth and relative profitability deterioration," Citigroup analyst Alastair Syme wrote in a Jan. 27 research note. "A five-year historic trend of falling exploration and production volumes looks to have turned the corner in 2010."

Gladstone Project
Total is expecting a "significant increase" in output in 2012 compared to this year, when output is expected to remain "flat," de Margerie said at an analyst conference. Output growth in 2013 will be "a little lower" than 2012 and higher again in 2014, he said.

Total last month sanctioned investment with partners in the $16 billion Gladstone liquefied natural gas project in Australia. The company also decided to develop Clov off Angola and has said final investment decisions could come for Ofon II and Engina in Nigeria as well as Sulige in China, Ichthys LNG in Australia, Shtokman in Russia and Ahnet in Algeria.

Investment decisions are likely to come this year for Engina and Ofon II, Yves-Louis Darricarrere, head of exploration and production, said at an analyst conference.

The French oil company said today there would be the start up of 10 "large" upstream projects this year and next while 12 would be "launched."

Brent oil averaged 16 percent more in the fourth quarter than the year-earlier period. U.K. natural-gas prices were 88 percent higher.

Profit from turning crude into fuels such as gasoline and diesel rose to $32.2 a metric ton compared with $11.7 a ton a year ago, the company said last month.

Total temporarily shut all five of its active refineries in France because of a strike by oil workers in October over a government plan to overhaul the country's pension system. The labor action was the second last year led by the CGT union, the biggest among refinery workers, and cost the company an estimated 100 million euros.

Refining Capacity
Total said refining capacity will fall to an estimated 1.8 million barrels a day this year from 2 million barrels a day last year due to a planned sale of the Lindsey refinery in the U.K. and a dismantling of the Flanders plant in Dunkirk, France.

Total had announced plans to reduce its refining capacity by about one-fifth, or 500,000 barrels a day, between 2007 and 2011, a target that de Margerie said will be met with the sale of Lindsey. The company will "continue to adapt refining and petrochemicals" this year and next, according to a presentation.

Royal Dutch Shell Plc, Europe's biggest oil company, posted earnings that missed analyst estimates for the first time in a year on weak refining margins while BP Plc's adjusted profit also missed analyst expectations after the oil company increased the charge it took for the Gulf of Mexico spill.

Exxon Mobil Corp., the world's largest company, posted its biggest quarterly profit in more than two years as energy demand boosted oil and fuel prices.

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 28/1/2011 10:36

Calendar
The 2011 financial calendar is presented below:


Calendar 2011 Event
February 11 Fourth Quarter and Full Year 2010 Results
April 29 First Quarter 2011 Results
May 13 2011 Annual Shareholders' Meeting (Paris)
July 29 Second Quarter and First Half 2011 Results
September 15 2011 Mid-Year Outlook (London)
October 28 Third Quarter 2011 Results

[ariane] 31/10/2010 15:41

October 29 Third Quarter 2010 Results

The 2011 financial calendar is presented below:


Calendar 2011 Event
February 11 Fourth Quarter and Full Year 2010 Results
April 29 First Quarter 2011 Results
May 13 2011 Annual Shareholders' Meeting (Paris)
July 29 Second Quarter and First Half 2011 Results
September 15 2011 Mid-Year Outlook (London)
October 28 Third Quarter 2011 Results

[ariane] 31/10/2010 15:39

Related News:Energy Industry · France · Energy Markets · Middle East .Total Is Confident of Renewed Partnership for Abu Dhabi Oil Concession
By Ayesha Daya and Anthony DiPaola - Oct 31, 2010 12:18 PM GMT+0100 Tweet (1)LinkedIn Share
Business ExchangeBuzz up!DiggPrint Email .Total SA is "confident" it will continue to be a partner with Abu Dhabi in developing the Persian Gulf emirate's oil reserves after its current production concession expires, an official at the French company said.

"We are confident that the track record of the relationship between Total and Abu Dhabi will continue with a renewed partnership after 2014," Jean Luc Guiziou, Total's vice president for production in the Middle East, told reporters on the sidelines of a conference today. "We are confident we will be one of the strategic partners" developing Abu Dhabi's crude, he said.

Abu Dhabi, the capital and largest sheikhdom of the United Arab Emirates, is seeking to boost crude production capacity to 3.5 million barrels a day by 2018. State companies partner with international companies in fuel-producing concessions to develop on- and offshore oil and gas deposits.

The French producer and other international partners have the concession for pumping crude from six onshore fields through the Abu Dhabi Company for Onshore Oil Operations.

The state-run oil producer owns 60 percent of Adco, as the partnership is known, with Total, Royal Dutch Shell Plc, Exxon Mobil Corp., BP Plc and Partex holding the rest. Adco will raise its sustainable production capacity to 1.8 million barrels a day starting in 2017 from about 1.4 million barrels a day, General Manager Abdul Munim Saif al-Kindy said Feb. 9.

To contact the reporters on this story: Ayesha Daya in Abu Dhabi at [e-mail]; Anthony DiPaola in Dubai at [e-mail].

To contact the editor responsible for this story: Stephen Voss on [e-mail].
.

[grupo guitarlumber] 04/11/2009 09:56

Total: Sanofi-Aventis Stake Stood At 8.6% As Of Sep. 30





PARIS -(Dow Jones)- French oil major Total SA's (TOT) stake in Sanofi-Aventis SA (SNY) stood at 8.6% of the company at the end of September, a spokesman for the company said Wednesday.

The company's asset sales in the first nine months of 2009 came to EUR1.84 billion, "consisting essentially of Sanofi-Aventis shares," Total said earlier in its third-quarter earnings statement.

The company has been gradually selling down its stake in the pharmaceutical company.

-By Adam Mitchell, Dow Jones Newswires, [phone]; [e-mail]

[ariane] 08/10/2009 17:35

Total CEO: Would Be Dream To Work With Brazil On Subsalt Oil





BUENOS AIRES -(Dow Jones)- French oil major Total SA (TOT) is interested in helping Brazil develop its recently discovered offshore oil reserves, but needs to evaluate recent changes to the country's regulatory framework.

"To invest in the subsalt is my biggest dream," Total Chief Executive Christophe de Margerie said Thursday on the sidelines of the World Gas Conference.

That dream, however, depends on the outcome of congressional debate on Brazilian President Luiz Inacio Lula da Silva's proposals to change the laws governing the country's oil and natural gas sector.

The measures were launched in September and would give Brazil's government a greater stake in the discoveries and state-run energy company Petrobras (PBR) the lead role in development.

The government decided to seek the changes after a series of offshore oil and natural gas discoveries. The so-called subsalt discoveries were made under a thick layer of salt in the Santos Basin off the coast of Sao Paulo and Rio de Janeiro states. The oil lies under more than 2,000 meters of water and a further 5,000 meters under sand, rock and a shifting layer of salt.

In November 2007, Petrobras shocked the world with the announcement of the Tupi field. Tupi was estimated to hold recoverable reserves of between 5 billion and 8 billion barrels of oil equivalent. That was the Western Hemisphere's largest oil discovery in 30 years.

"We need to reassess the situation to see what the size of the reserves are and how much we'll have to pay the state," de Margerie said. Total could then properly address its interest with government and Petrobras officials, he added.

The executive said that international oil companies needed to bring something extra to the table when seeking development partnerships with national oil companies.

"We have to show Petrobras that we can bring something of value," he said.

-By Jeff Fick, Dow Jones Newswires; 55-21-7564-4503; [e-mail]

[grupo] 23/9/2009 16:31

Assisted suicide law 'clarified'
By Nick Triggle
Health reporter, BBC News

New guidance has been issued to clarify the law on assisted suicide in England and Wales - but it offers no guarantees against prosecution.

Instead the director of public prosecutions has spelled out the range of factors that will be taken into account when deciding on cases.

These include whether there was a financial motive, and looking into how the decision to die was made.

The guidance does not represent a change in the law.

Assisting suicide is illegal and carries a jail term of up to 14 years.

However, more than 100 Britons with terminal or incurable illnesses have gone to the Swiss centre Dignitas to die and none of the relatives and friends involved in the cases has been prosecuted.


" There are no guarantees against prosecution "
Keir Starmer QC, Director of Public Prosecutions

This is because the authorities have the power to use their discretion under the terms of the act.

Keir Starmer QC, the director of public prosecutions, was forced to publish the guidance after a long-running legal fight by Debbie Purdy, a multiple sclerosis sufferer from Bradford.

In July, Law Lords ruled she had the right to know under what circumstances her husband would be prosecuted if he helped her travel abroad to die.

Mr Starmer said he hoped his guidance would now bring greater clarity to the issue, although he added all cases would still be investigated by the police.

He said: "There are no guarantees against prosecution.


"It is my job to ensure that the most vulnerable people are protected while at the same time giving enough information to those people, like Ms Purdy, who want to be able to make informed decisions about what actions they choose to take."

Among the factors which would determine a prosecution are:


Whether a person stands to benefit financially from assisting a suicide or if they were acting out of compassion
If the individual wanting to die was deemed competent enough and had a "clear and settled" wish to make such a decision. Particular attention would be paid to issues such as being under 18, and having a mental illness
Whether the person was persuaded or pressured into committing suicide, or if it was their own decision
The new framework will come into force immediately - although a consultation is also being launched with the final policy not expected to be published until the spring.

Ms Purdy welcomed the intervention by the DPP.


" There must be a real danger that this will be seen as giving the green light to assistance from close relatives or friends "
Dr Peter Saunders Care Not Killing
She said it was important to underline that people considering suicide had a duty first to carefully consider all possible options.

"People will know what they must make sure of before they assist, and hopefully that will give people confidence not to make such a decision until the last possible minute."

And Sarah Wootton, chief executive of the Dignity in Dying campaign group, agreed, saying the guidance represented a "significant breakthrough".

But Dr Peter Saunders, of Care Not Killing, an umbrella group of doctors, religious organisations and charities, said there were some features that were "disturbing".

He claimed having details spelt out like this could make prosecutions less likely.


"There must be a real danger that this will be seen as giving the green light to assistance from close relatives or friends, who in many cases might be those who would stand personally to gain from the death of the deceased."

The law is similar in Northern Ireland and new guidance being issued sets out an almost identical framework.

In Scotland there is some uncertainty as there is no specific law on assisted suicide, although in theory someone could be prosecuted under homicide law.

A bill is expected to come before the Scottish parliament soon in a bid to legalise assisted suicide.

Story from BBC NEWS:


Published: 2009/09/23 10:22:14 GMT

[grupo] 23/9/2009 16:31

Assisted suicide law 'clarified'
By Nick Triggle
Health reporter, BBC News

New guidance has been issued to clarify the law on assisted suicide in England and Wales - but it offers no guarantees against prosecution.

Instead the director of public prosecutions has spelled out the range of factors that will be taken into account when deciding on cases.

These include whether there was a financial motive, and looking into how the decision to die was made.

The guidance does not represent a change in the law.

Assisting suicide is illegal and carries a jail term of up to 14 years.

However, more than 100 Britons with terminal or incurable illnesses have gone to the Swiss centre Dignitas to die and none of the relatives and friends involved in the cases has been prosecuted.


" There are no guarantees against prosecution "
Keir Starmer QC, Director of Public Prosecutions

This is because the authorities have the power to use their discretion under the terms of the act.

Keir Starmer QC, the director of public prosecutions, was forced to publish the guidance after a long-running legal fight by Debbie Purdy, a multiple sclerosis sufferer from Bradford.

In July, Law Lords ruled she had the right to know under what circumstances her husband would be prosecuted if he helped her travel abroad to die.

Mr Starmer said he hoped his guidance would now bring greater clarity to the issue, although he added all cases would still be investigated by the police.

He said: "There are no guarantees against prosecution.


"It is my job to ensure that the most vulnerable people are protected while at the same time giving enough information to those people, like Ms Purdy, who want to be able to make informed decisions about what actions they choose to take."

Among the factors which would determine a prosecution are:


Whether a person stands to benefit financially from assisting a suicide or if they were acting out of compassion
If the individual wanting to die was deemed competent enough and had a "clear and settled" wish to make such a decision. Particular attention would be paid to issues such as being under 18, and having a mental illness
Whether the person was persuaded or pressured into committing suicide, or if it was their own decision
The new framework will come into force immediately - although a consultation is also being launched with the final policy not expected to be published until the spring.

Ms Purdy welcomed the intervention by the DPP.


" There must be a real danger that this will be seen as giving the green light to assistance from close relatives or friends "
Dr Peter Saunders Care Not Killing
She said it was important to underline that people considering suicide had a duty first to carefully consider all possible options.

"People will know what they must make sure of before they assist, and hopefully that will give people confidence not to make such a decision until the last possible minute."

And Sarah Wootton, chief executive of the Dignity in Dying campaign group, agreed, saying the guidance represented a "significant breakthrough".

But Dr Peter Saunders, of Care Not Killing, an umbrella group of doctors, religious organisations and charities, said there were some features that were "disturbing".

He claimed having details spelt out like this could make prosecutions less likely.


"There must be a real danger that this will be seen as giving the green light to assistance from close relatives or friends, who in many cases might be those who would stand personally to gain from the death of the deceased."

The law is similar in Northern Ireland and new guidance being issued sets out an almost identical framework.

In Scotland there is some uncertainty as there is no specific law on assisted suicide, although in theory someone could be prosecuted under homicide law.

A bill is expected to come before the Scottish parliament soon in a bid to legalise assisted suicide.

Story from BBC NEWS:


Published: 2009/09/23 10:22:14 GMT

[grupo] 23/9/2009 06:17

Total's Chief Says Oil Is Overvalued Based on Supply (Update1)

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By Tara Patel and Margaret Brennan

Sept. 22 (Bloomberg) -- Total SA Chief Executive Officer Christophe de Margerie said recent gains in oil prices reflect market anticipation of a supply shortfall within five years rather than current demand.

"If it was purely offer and demand, prices would be lower than the $60 we are seeing," de Margerie said today in a Bloomberg Television interview in New York. "The market is anticipating in the long term there won't be enough oil, some people would say speculating."

Oil has advanced 60 percent this year in New York on signs the global economy may be on the brink of a recovery, boosting consumption of fuels. Crude dropped 70 percent in the second half of 2008 from its $147.27-a-barrel peak. The contract for October delivery traded at $71.39 at 11:53 a.m. local time today.

"The market today is not based on physical offer and demand, but what they see as offer and demand in five, six years' time," de Margerie said. "In the short term, it's true there is oversupply. In the medium to long term, we see oil prices steady to say the least, with a risk to go to higher levels if we can't meet demand."

Crude oil futures for delivery in 2015 are currently trading near $85 a barrel on the New York Mercantile Exchange.

Supply Shortfall

The CEO has previously said supplies may fall short as soon as 2014 and oil producers must invest in new capacity to avoid a jump in prices, which have averaged $63 over the past six months. The International Energy Agency also said in April that a drop in investments may result in a global oil shortage by 2013.

"We are concerned that the price of oil and gas is too low to maintain a good investment environment," de Margerie said today. "We have to be very careful to take care of the short term to keep the company ready to benefit from the recovery."

Total, France's biggest oil company, said in July that second-quarter production declined to the lowest in at least nine years as OPEC output restrictions and the global recession offset gains from new projects in Nigeria and the Gulf of Mexico.

The economic slowdown has also curbed demand for Total's fuel output, leaving the company with surplus European refining capacity. Russian companies may bid for some of that capacity as they seek to expand abroad, de Margerie said.

"They have a market to develop in Europe and may be interested to buy when we are interested to sell," he said. "We could do win-win deals with companies like Russians."

Refinery Sales

Total has said it may sell refining assets to save costs as global overcapacity grows to an estimated 9 million barrels a day this year, almost twice the level in 2007. The Paris-based company, which is expanding in the Middle East and studying projects in Asia, is under pressure from the French government and unions to keep jobs at home, where it has six refineries.

"Integrated companies not present in Europe with access to crude may want to be part of this network where we consider we've been present for too long," de Margerie said. "I can't say it's a huge bullish market but yes, we find buyers," he said, citing Total's sale of a 45 percent stake in its Vlissingen refinery to Russia's OAO Lukoil in June. The stake in the 190,000-barrel-a-day Dutch plant sold for $725 million.

Total, Europe's biggest oil refiner, agreed to the deal after exercising pre-emption rights over shares previously offered for sale by Dow Chemical Co. to Valero Energy Corp.

Access to Europe

Valero, the largest U.S. refiner, said in May it had been seeking to enter the European market for "quite some time" to take advantage of an expected recovery in fuel demand. Lukoil said the acquisition would fit with its strategy of boosting refining capacity to process its own crude.

Total workers in France have threatened strikes to protest the possible sale of plants, accusing the company of wanting to "sacrifice" European refining capacity to expand in Asia and the Middle East.

"It's my responsibility to prepare things, not wait to be faced with strong real concerns and be forced to adapt ourselves without getting the time to prepare," de Margerie said today. "We are part of a global system. We're not talking about closing refineries. We're talking about selling."

The European refining market is "certainly not an area of growth," he said. "We have to adapt our system to new demand."

Total is developing a 400,000-barrel-a-day plant in Jubail, Saudi Arabia, and has said it's interested in having a stake in a second refinery in China. The company pulled a team in India that had been studying a possible refinery project there.

Saudi Fields

While Total studies expansion in the Middle East, Saudi Aramco, the world's most influential oil producer, said yesterday it sees little chance of pumping crude from idle fields next year because a recovery in demand has yet to begin.

Saudi Arabia has shuttered about a third of its crude production capacity, according to the oil ministry. It's leading cuts by the Organization of Petroleum Exporting Countries, whose members agreed last year to reduce output by 4.2 million barrels a day in a bid to bolster prices.

Saudi Aramco has enough capacity to cover demand at the moment, de Margerie said.

"In the long term, Saudi Aramco cannot fill the gap," he said. "There is a need for other operators and producers to do their part."

To contact the reporters on this story: Tara Patel in Paris at [e-mail]; Margaret Brennan in New York at [e-mail].

Last Updated: September 22, 2009 12:27 EDT

[grupo] 23/9/2009 04:43

Total Targets Petrobras Partnership for Brazil Growth, CEO Says

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By Tara Patel and Margaret Brennan

Sept. 23 (Bloomberg) -- Total SA, Europe's third-largest oil producer, is studying expansion in Brazil as part of a plan to reverse falling output by developing new projects.

"Brazil definitely would be an interesting target," Chief Executive Officer Christophe de Margerie said yesterday in New York after meeting Petroleo Brasileiro SA CEO Jose Sergio Gabrielli last week in Paris. "We think we can help Petrobras to develop huge resources that they have in front of them."

Total's second-quarter output fell to a nine-year low as the global recession and OPEC output limits offset gains from new projects in Nigeria and the Gulf of Mexico. International oil companies including Royal Dutch Shell Plc and Galp Energia SGPS SA are investing in Brazil's deep-sea pre-salt region, whose Tupi field is the Americas' largest oil find since 1976.

Teaming up with state-controlled Petrobras would be in keeping with Total's strategy to develop ties with national oil companies in countries with large hydrocarbon reserves, de Margerie said in an interview. "This is what we've been doing with Gazprom to develop the Shtokman field in the Barents Sea," he said.

The Arctic Shtokman natural-gas field is a venture between Russia's OAO Gazprom, Norway's StatoilHydro ASA and Total, and has reserves equal to more than the world's current annual gas consumption. Total is also a partner of Petrobras at exploration blocks in Bolivia, Nigeria and Angola, and is in talks on a project in Venezuela with that country's state oil company.

Development Challenge

Petrobras is facing a "tremendous challenge" to develop its deep offshore oil fields, de Margerie said. "We want to find a way for them to understand we aren't there to be a concern but to help them."

No one at Petrobras could immediately be reached for comment.

The Rio De Janeiro-based company may increase its five-year spending plan because of development in the pre-salt region, Chief Financial Officer Almir Barbassa said last week in Paris. Petrobras has proposed investment of $174.4 billion from 2009 through 2013.

The pre-salt offshore area, which has oil deposits beneath a layer of salt resting as deep as 3,000 meters (9,840 feet) beneath the ocean surface and another 5,000 meters below the seabed, includes Tupi. The field holds 5 billion to 8 billion barrels of oil and gas.

Capital expenditure at Petrobras amounts to $100 million a day, while workers and locally made equipment are in short supply, Barbassa said.

State Control

Under a plan being discussed by Brazilian lawmakers, the government would boost its stake in Petrobras and the company would be the sole operator of all pre-salt fields, which may more than double Brazil's proven reserves in three years.

"We need to be careful we don't only talk about discoveries, but real production," said de Margerie, who has warned of a global oil and gas supply shortage within five years. Total, which didn't pump any oil in Brazil last year, holds interests in two blocks in the country's Campos Basin, according to its 2008 annual report.

Total has forecast lower production in 2009 and then an average 2 percent annual increase through 2014, as five projects that started this year add to output. Their contribution would counter a projected overall decline rate of 5 percent a year, faster than a previous estimate in February of 4 percent, according to the company.

New Projects

The Paris-based company has also said four further projects will support growth starting in 2013: the Pazflor oil deposit and a liquefied natural gas venture in Angola, the Usan development off Nigeria and the first phase of the Kashagan field in Kazakhstan. The gap in new projects coming on stream has raised concern the company may not reach growth targets.

"The outlook for Total's upstream business appears less secure than investors may have expected," David Thomas, a Citigroup Inc. analyst, said in a Sept. 17 report following a presentation in London. Thomas kept a "hold" rating on the shares and a target price of 40 euros, noting Total's failure to "deliver on production promises."

Total rose 0.9 percent to 42.07 euros in Paris trading yesterday, bringing its advance this year to 8.1 percent. That compares with a 6.7 percent year-to-date increase for BP Plc and a 0.6 percent gain at Royal Dutch Shell Plc.

Total has decided not to make investment decisions before 2010 on major projects such as the Clov oil field in Angola, the Surmont Canadian oil-sands development and the Laggan/Tormore field in the North Sea, saying some ventures may be delayed to save costs "if needed." It has already postponed Nigeria's Ofon II project, calling bids for development "unacceptable."

Output Drops

Total's second-quarter output was 2.18 million barrels of oil equivalent a day, down 7.3 percent from a year earlier. Production was curbed by output limits in member states of the Organization of Petroleum Exporting Countries, which agreed last year to record production cuts in a bid to bolster prices.

BP, Europe's second-largest oil producer, has forecast higher output this year than in 2008, when production averaged 3.838 million barrels a day. Shell, Europe's biggest producer, has said it may pump less in 2009, while forecasting output growth of 2 to 3 percent going into 2011 and 2012 as new projects come on stream.

To contact the reporters on this story: Tara Patel in Paris at [e-mail]; Margaret Brennan in New York at [e-mail].

Last Updated: September 22, 2009 18:01 EDT

[grupo] 22/9/2009 15:46

Venezuela Aims To Build An $80 A Barrel Floor On Oil Prices





CARACAS -(Dow Jones)- Venezuela aims to double its oil production to more than 6 million barrels a day by 2030, Oil Minister Rafael Ramirez said Tuesday.

Speaking at a heavy crude oil conference, Ramirez said current production in Venezuela stands at about 3 million barrels a day, but that by 2015 the government aims for production to reach 4.7 million barrels a day. By 2030, production could reach 6 million barrels a day, he added.

To reach these goals, Ramirez said state oil firm Petroleos de Venezuela aims to "build a floor" on oil prices at $80 a barrel.

The two-day conference that began Tuesday in Caracas is being held by Petroleos de Venezuela SA, or PdVSA, along with French oil firm Total SA (FP.FR).

-By Dan Molinski, Dow Jones Newswires; (58) 414 120 5738; [e-mail]

[grupo guitarlumber] 21/9/2009 09:23

Total issues oil shortage warning
The head of oil giant Total has told the BBC the world could face a shortage of oil because of underinvestment.

Chief executive Christophe de Margerie warned that too little has been spent trying to tap into new oil reserves because of the economic crisis.

"If we don't move [now] there will be a problem," Mr de Margerie said. "In two or three years it will be too late."

He also said he thought oil prices would to more than $100 a barrel, from their current level of around $70.

"The reserves of oil are there, but if you don't invest they don't come on the market," Mr de Margerie said.

"What we have to decide today is production for 2010-2015. So in between we might be faced with insufficient oil to meet demand."

He said the major oil producing countries, which have cut production in the face of falling demand and to protect prices, could not be blamed for the underinvestment.

"You cannot ask those countries who are also facing a crisis to continue to invest for a potential recovery of demand, and to do this for the benefit of the world."

Instead, he called on heads of government to get involved.

"I think it is our role to... force people in charge of our countries to think about this concern we have."

Story from BBC NEWS:


Published: 2009/09/21 08:06:42 GMT

[waldron] 18/9/2009 17:22

Total May Face Strikes on Possible Refinery Sales (Update1)

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By Tara Patel

Sept. 18 (Bloomberg) -- Total SA, Europe's biggest oil refiner, may face strikes as workers protest the possible sale of some of its plants, a union said.

"Let's be ready for a strike to defend jobs and our refining," the Confederation General du Travail said today in a statement. Total is willing to "sacrifice" European refining capacity to expand in Asia and the Middle East, the union said.

An internal meeting, at which management and unions will be present, is scheduled for Oct. 1, the CGT said.

Total may sell refining assets to improve profitability amid overcapacity in Europe and the U.S., Chief Executive Officer Christophe de Margerie told analysts in London two days ago. The Paris-based company has estimated global surplus refining capacity this year at about 9 million barrels a day, almost twice the level in 2007.

The recession has eroded demand for fuels, dragging down prices and squeezing profit margins for producers. Some refiners have idled plants, sought to sell others and slowed operating rates.

Total, which is developing a plant in Jubail, Saudi Arabia, said this month it would temporarily halt output at its Flanders refinery in northern France because of weak demand for oil products in northwestern Europe. The company has also stopped a crude-distillation unit at its Normandy refinery.

Normandy Restart

The Normandy unit will resume operations "when market conditions permit," Michael Crochet-Vourey, a spokesman for Total, said today by telephone.

"Total has to seriously tackle refining capacity," de Margerie said. "There are two ways of disposing of assets: to sell and to stop." De Margerie declined to identify any refineries for possible sale or give a timeframe. He did say that Total's Leuna plant in Germany won't be sold.

Total is under pressure from unions and France's government to keep jobs at refineries, after a plan announced in March to cut 555 refining and petrochemical jobs in the country sparked strikes. Under the proposal, Total will raise diesel output and reduce gasoline production at the Normandy refinery.

Total, Europe's third-largest oil company, has called on other refiners in the region to coordinate a strategy to cut spare processing capacity.

European Strategy

"We are sending a message to all of the refiners to do something all together," de Margerie said. "Total is not willing to do the job by itself for the benefit of the community, so for the time being we are thinking of selling assets."

Total's plea to other European refiners is an attempt to "organize the market and keep prices high for petroleum products," the CGT said.

Royal Dutch Shell Plc, Europe's biggest oil producer, said this week it would continue to cut costs at its downstream business, citing "significant pressure" on refining margins.

Shell said last month it may sell the U.K. Stanlow refinery. The company is also looking to sell its Heide and Hamburg refineries in Germany as well as Canada's Montreal East and New Zealand's Whangarei plants.

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

Last Updated: September 18, 2009 09:20 EDT

[grupo guitarlumber] 29/8/2009 07:39

Total : supérieur à sa MM 50.

ven 28 aou, 18h04


Sur les 5 derniers jours, le titre a peu évolué, gagnant 1.38%. Depuis le début de l'année, il est en hausse de 3.6%.

Du point de vue de l'analyse technique : le RSI est supérieur à sa zone de neutralité des 50. Le MACD est supérieur à sa ligne de signal et positif. La configuration est haussière à court terme. Enfin, le titre est supérieur à sa moyenne mobile 50 jours.

A noter que les volumes sont en baisse depuis quelques jours.


Graphiquement : les niveaux de résistances se situent sur : 42.6 puis 43.6. Tandis que les prochains supports sont sur : 39.4 puis 38.7.


Notre préférence : Le titre Total (FP) est haussier tant que 38.7 est support.


Le point d'invalidation de notre scénario est situé sur : 38.7.

Cours de référence : 40.3