Total Share Discussion Threads

[the grumpy old men] 08/6/2018 15:42

French farmers plan fuel blockade in palm oil row
Pymouss / CC BY-SA 3.0 The oil refinery at Donges, Loire-Atlantique, was blockaded this morning

A total 13 oil refineries and fuel depots targeted as farmers protest against continued palm oil imports for use in biofuels

Farmers are planning a four-day blockade of 13 oil refineries and fuel depots across France in protest at the import of palm oil for use in fuel.

They say they will block sites at Donges (Loire-Atlantique), Gonfreville l'Orcher (Seine-Maritime), Dunkerque (Nord), Coignières (Yvelines), Gennevilliers (Hauts-de-Seine), Grandpuits (Seine-et-Marne), Vatry (Marne), Strasbourg, Cournon (Puy-de-Dôme), Lyon and Feyzin (Rhône), La Mède (Bouches-du-Rhô;ne) and Toulouse.

The blockade will run from June 10 to June 13.

The FNSEA and Young Farmers are staging the protest over what they describe as the government's "contradictions" over standards demanded of farmers in France that are not maintained for the importation of raw materials.

They see the import of palm oil as 'unfair competition' to more expensive oils from rapeseed and sunflower production in France. "The French oil and protein industry has the capacity to meet the needs of oil groups," a union delegate said.

As well as being found in a number of food products, palm oil is used as an additive in biofuels, which are widely promoted within the EU as more environmentally friendly than fossel fuels.

In May, France gave the go-ahead for a biorefinery owned by Total despite the EU Parliament voting to ban palm oil imports by 2021. It has been agreed that the refinery would use up to 300,000 tonnes of palm oil per year: 10% of total palm oil consumption in Europe for biofuels in 2016.

Last year, Environment Minister Nicholas Hulot said France would take steps to restrict the use of palm oil in producing biofuels in order to reduce deforestation in countries of origin, such as Indonesia and Malaysia. At the time he did not go into detail, but said he wanted to stop “imported deforestation” in France, citing unsustainable soybean and palm oil production.

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[waldron] 07/6/2018 17:15

Total
53.38 +1.25%

Engie
13.66 +1.26%

Orange
14.67 +0.10%

FTSE 100
7,704.4 -0.10%
Dow Jones
25,260.81 +0.46%
CAC 40
5,448.36 -0.17%



Brent Crude Oil NYMEX 76.88 +1.42%
Gasoline NYMEX 2.11 +1.44%
Natural Gas NYMEX 2.95 +1.59%


BP
589.6 +2.20%

Shell A
2,621 +1.51%


Shell B
2,698.5 +1.35%

[waldron] 06/6/2018 17:13

Total
52.72 +0.80%

Engie
13.49 -0.66%

Orange
14.655 +0.24%

FTSE 100
7,712.37 +0.33%
Dow Jones
24,993.99 +0.78%
CAC 40
5,457.56 -0.06%


Brent Crude Oil NYMEX 75.05 -0.04%
Gasoline NYMEX 2.07 -1.19%
Natural Gas NYMEX 2.88 -0.24%


BP
576.9 -0.02%


Shell A
2,582 -0.33%


Shell B
2,662.5 -0.24%

[waldron] 06/6/2018 17:13

Total
52.72 +0.80%

Engie
13.49 -0.66%

Orange
14.655 +0.24%

[grupo guitarlumber] 06/6/2018 10:34

France's Total may not re-enter Mahakam oil, natural gas block: Indonesia regulator

Jakarta (Platts)--6 Jun 2018 521 am EDT/921 GMT

Total is unlikely to re-enter Indonesia's Mahakam oil and gas block as a project partner, as the French oil major has refused to pay state-run Pertamina for its new participating interest, oil and gas director general at Indonesia's Energy and Mines Ministry, Djoko Siswanto, said Tuesday.

However, Japanese oil explorer Inpex has expressed interest in continuing its participation in the block, Siswanto said Tuesday.

Total's apparent lack of interest is a major setback for Indonesia's exploration sector, and significantly reduces the chances of raising production levels at Mahakam. Its exit from Mahakam comes after oil majors like ConocoPhilips, Chevron and BP have already pulled out of Indonesia.

Total declined to comment, in response to emailed queries.

On January 1, joint operators Total and Inpex surrendered Mahakam, Indonesia's most productive offshore gas field, to Pertamina after the license expired in December 2017.

The 100% government takeover of Mahakam after nearly 50 years under Total and Inpex underscored growing state control over Indonesia's energy assets and natural resources.

Pertamina still needed project partners to share exploration risk and said it would restart discussions for a new partnership structure. At the time, Total had expressed interest in further developing Mahakam under new agreements.

Total and Inpex notified the government of their intention to take a combined 39% operating interest in the new production sharing contract for the Mahakam block. But Pertamina insisted that the company is only able to sell up to 30% stake in Mahakam, S&P Global Platts reported previously.

Siswanto said Pertamina allowed Total to return to the project for a fee that Total refused to pay, while the government was still in discussions with Inpex, which has not officially stated the size of the stake it plans to have in the new partnership.

Separately, Pertamina's upstream director Syamsu Alam told Platts Tuesday that the national oil company has not discussed the Mahakam issue with Total.

Industry experts say they believe the complexity and size of a lucrative asset like offshore Mahakam needs foreign partners that can bring in experience and technology to operate the asset, as well as share high capex costs and financial risks.

Mahakam's production averaged 951.8 million cu ft/d as of April compared with the target of 1.1 billion cu ft/d throughout this year. Its condensate output reached 46,060 b/d compared with a target of 48,271 b/d, according to data from upstream regulator SKK Migas.

As a mature E&P block, Mahakam's annual production decline rate could reach 50% if Pertamina does not do anything, but the company can arrest the decline rate at 20-25%. Pertamina plans to spend $75.3 million of investment over a three-year contract starting 2018.

Based on Pertamina's assessment, the Mahakam block's gas output may reach 1.207 Bcf/d in 2019, 1.268 Bcf/d in 2020, 1.267 Bcf/d in 2021 and 1.218 Bcf/d in 2022. In 2023, output may decline to 1.11 Bcf/d.

Mahakam's condensate production may reach 42,000 b/d in 2019, 43,184 b/d in 2020, 41,850 b/d in 2021 and 39,451 b/d in 2022. In 2023, condensate output may decline to 35,575 b/d.

Wood Mackenzie estimates that Mahakam will need $2.5 billion of investment over the next three years to maintain production levels.

--Anita Nugraha, [e-mail]

--Edited by Jonathan Fox, [e-mail]

[waldron] 05/6/2018 18:10

Total
52.3 -0.65%

Engie
13.58 -0.98%

Orange
14.62 -2.66%

FTSE 100
7,686.8 -0.70%
Dow Jones
24,746.13 -0.27%
CAC 40
5,460.95 -0.22%


Brent Crude Oil NYMEX 74.94 -0.61%
Gasoline NYMEX 2.10 -1.01%
Natural Gas NYMEX 2.89 -1.23%


BP
577 -0.33%


Shell A
2,590.5 -1.20%

Shell B
2,669 -0.91%

[waldron] 04/6/2018 17:10

Total
52.64 -0.17%

Engie
13.715 +1.14%

Orange
15.02 +1.56%

FTSE 100
7,741.29 +0.51%
Dow Jones
24,826.6 +0.78%
CAC 40
5,472.91 +0.14%


Brent Crude Oil NYMEX 75.64 -1.27%
Gasoline NYMEX 2.12 -1.10%
Natural Gas NYMEX 2.95 -1.14%

BP
578.9 +0.38%

Shell A
2,622 +0.21%

Shell B
2,693.5 -0.17%

[waldron] 04/6/2018 15:50

04/06/2018 | 4:09 p.m.
HSBC raised its target price on Total from 56.5 to 59 euros while reiterating its purchase recommendation in a sectoral study devoted to oil majors. The broker believes that cash distributions to shareholders may be higher than expected. In addition, the additional cash that companies will receive through their efforts to control expenditures and increase oil prices should enable them to accelerate their energy transition.

[waldron] 04/6/2018 08:25

Total
53.05 +0.61%

Engie
13.64 +0.59%

Orange
14.88 +0.61%

FTSE 100
7,734.93 +0.43%
Dow Jones
24,635.21 +0.90%
CAC 40
5,494.82 +0.54%

Brent Crude Oil NYMEX 76.87 +0.34%
Gasoline NYMEX 2.15 +0.51%
Natural Gas NYMEX 2.96 -0.64%


BP
578.9 +0.38%

Shell A
2,635.5 +0.73%

Shell B
2,714.5 +0.61%

[grupo] 03/6/2018 13:34

I Still Can't Believe Oil Giant Total S.A. Spent $1.6 Billion on a Utility
International energy giant Total made a big bet on a different kind of energy. It's a big hint about the company's changing business model.
Author Picture
Reuben Gregg Brewer
(TMFReubenGBrewer)
Jun 3, 2018 at 8:03AM

French energy company Total S.A. (NYSE:TOT) pumped 2.7 million barrels of oil per day in the first quarter of 2018. That was up 5% year over year, and helped to push its adjusted net income per share up 8%. But here's the interesting thing: In April it announced plans to buy nearly 75% of Direct Energie, an electric and natural gas utility, for roughly $1.6 billion. Why would an oil company do that?
A survivor

One of the first things to note about Total is the fact that it handled the energy downturn that started in mid-2014 in relative stride. For example, its long-term debt rose by a huge 30% in 2014 alone, as the company used leverage to support its spending needs at a time when earnings were falling rapidly. However, that only pushed long-term debt to around a third of the company's capital structure -- not an unwieldy figure. And it has trimmed that debt burden every year since the peak despite 2017 earnings that were still around 35% below what they were in 2013, before the energy downturn hit. It also rewarded investors by maintaining its dividend payment through the rough patch, with increases starting again in late 2016.
A man wearing a hard hat with wind turbines in the background

Image source: Getty Images

It wasn't an easy period, but Total did a good job through what was easily the deepest energy downturn in a very long time. Some of that was related to good luck, since a number of key oil and gas investments came on line during the downturn. But still, management's decision to take on debt to support its business, and continue to pay dividends, hints at a company that has a long-term focus. Which is why the decision to spend $1.6 billion on electric and gas utility Direct Energie is so interesting.
Not the first move

Total's gas, renewables, and power division accounted for roughly 4% of revenue in 2017. So buying a utility isn't a complete change in direction. For example, Total has a controlling stake in SunPower Corporation, a clean energy power company, which it acquired in 2011. Note, too, that Direct Energie's core operations are in France and Belgium, which will also keep Total's utility business close to its corporate home. In other words, Total isn't going too far outside its comfort zone here.
Bar charts showing the breakdown of Total business, with its "low carbon" business making up a relatively small part of the whole

Gas, renewables, and power is a relatively tiny division at Total today. Image source: Total S.A.

However, Direct Energie's electric production will increase Total's production by a huge 50%. Moreover, it will expand Total's customer base by nearly 75%. This is a big increase in scale for Total, even though its gas, renewables, and power division will likely remain much smaller than its oil business for many years to come.

In addition to the quick jump in scale, the acquisition will also augment Total's plans to enhance what it calls its "low carbon" business. To put a number on that, in late 2017 Total announced plans to expand its capacity of natural gas and clean energy production to 5 gigawatts in five years (with SunPower's investments in France playing a notable role in that growth). With the addition of Direct Energie, that number will increase to 10 gigawatts.

The driving force behind Total's investment here is made clear in the slide below, taken from its 2017 results presentation. The bar on the left shows the breakdown of energy production in 2016, as reported by the International Energy Agency. The bar on right shows the global power agency's expectations in 2040, assuming the world works to limit carbon emissions over time. Coal is the biggest loser, with a notable loss of market share. That's to be expected, as it's easily the dirtiest way to produce energy. However, oil also loses ground, with natural gas, solar and wind, and nuclear all gaining share.
A bar chart showing the breakdown of the global energy market in 2016 and the projected breakdown in 2040, with renewable and natural gas growing at the expense of coal and oil.

IEA's expectations of the world's energy production. Image source: Total S.A.

SunPower and now Direct Energie position Total to benefit from this shift toward low-carbon energy sources. While there's no reason to believe that Total can't thrive as an oil and natural gas company in the projected environment, it is also clearly hedging its bets by starting to build a division that will benefit from expected shifts in the global power system.
Changing its stripes, slowly

For investors, there are three big takeaways. The first is that Total is still predominantly an oil and gas company, a fact that won't change for many years. Second, it has taken a long-term view of the world's power needs and is slowly shifting gears to adjust. Third, although the low-carbon business is relatively small today, it should be monitored closely.

Total is taking a cautious approach in this division, to be sure, but growth is going to pick up notably following the Direct Energie acquisition. And while Total appears to be keeping within its comfort zone, investments outside of the oil and gas business are clearly not core operations today. More than one company has attempted to diversify outside its core and failed. The oil giant has the financial wherewithal to shift gears like this, but that doesn't mean it will be successful. This isn't meant to pour cold water on what appears to be a solid long-term move by Total. However, the Direct Energie deal suggests that investors should start paying more attention to this relatively small division because it is quickly becoming more important.

Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

[grupo] 03/6/2018 13:34

I Still Can't Believe Oil Giant Total S.A. Spent $1.6 Billion on a Utility
International energy giant Total made a big bet on a different kind of energy. It's a big hint about the company's changing business model.
Author Picture
Reuben Gregg Brewer
(TMFReubenGBrewer)
Jun 3, 2018 at 8:03AM

French energy company Total S.A. (NYSE:TOT) pumped 2.7 million barrels of oil per day in the first quarter of 2018. That was up 5% year over year, and helped to push its adjusted net income per share up 8%. But here's the interesting thing: In April it announced plans to buy nearly 75% of Direct Energie, an electric and natural gas utility, for roughly $1.6 billion. Why would an oil company do that?
A survivor

One of the first things to note about Total is the fact that it handled the energy downturn that started in mid-2014 in relative stride. For example, its long-term debt rose by a huge 30% in 2014 alone, as the company used leverage to support its spending needs at a time when earnings were falling rapidly. However, that only pushed long-term debt to around a third of the company's capital structure -- not an unwieldy figure. And it has trimmed that debt burden every year since the peak despite 2017 earnings that were still around 35% below what they were in 2013, before the energy downturn hit. It also rewarded investors by maintaining its dividend payment through the rough patch, with increases starting again in late 2016.
A man wearing a hard hat with wind turbines in the background

Image source: Getty Images

It wasn't an easy period, but Total did a good job through what was easily the deepest energy downturn in a very long time. Some of that was related to good luck, since a number of key oil and gas investments came on line during the downturn. But still, management's decision to take on debt to support its business, and continue to pay dividends, hints at a company that has a long-term focus. Which is why the decision to spend $1.6 billion on electric and gas utility Direct Energie is so interesting.
Not the first move

Total's gas, renewables, and power division accounted for roughly 4% of revenue in 2017. So buying a utility isn't a complete change in direction. For example, Total has a controlling stake in SunPower Corporation, a clean energy power company, which it acquired in 2011. Note, too, that Direct Energie's core operations are in France and Belgium, which will also keep Total's utility business close to its corporate home. In other words, Total isn't going too far outside its comfort zone here.
Bar charts showing the breakdown of Total business, with its "low carbon" business making up a relatively small part of the whole

Gas, renewables, and power is a relatively tiny division at Total today. Image source: Total S.A.

However, Direct Energie's electric production will increase Total's production by a huge 50%. Moreover, it will expand Total's customer base by nearly 75%. This is a big increase in scale for Total, even though its gas, renewables, and power division will likely remain much smaller than its oil business for many years to come.

In addition to the quick jump in scale, the acquisition will also augment Total's plans to enhance what it calls its "low carbon" business. To put a number on that, in late 2017 Total announced plans to expand its capacity of natural gas and clean energy production to 5 gigawatts in five years (with SunPower's investments in France playing a notable role in that growth). With the addition of Direct Energie, that number will increase to 10 gigawatts.

The driving force behind Total's investment here is made clear in the slide below, taken from its 2017 results presentation. The bar on the left shows the breakdown of energy production in 2016, as reported by the International Energy Agency. The bar on right shows the global power agency's expectations in 2040, assuming the world works to limit carbon emissions over time. Coal is the biggest loser, with a notable loss of market share. That's to be expected, as it's easily the dirtiest way to produce energy. However, oil also loses ground, with natural gas, solar and wind, and nuclear all gaining share.
A bar chart showing the breakdown of the global energy market in 2016 and the projected breakdown in 2040, with renewable and natural gas growing at the expense of coal and oil.

IEA's expectations of the world's energy production. Image source: Total S.A.

SunPower and now Direct Energie position Total to benefit from this shift toward low-carbon energy sources. While there's no reason to believe that Total can't thrive as an oil and natural gas company in the projected environment, it is also clearly hedging its bets by starting to build a division that will benefit from expected shifts in the global power system.
Changing its stripes, slowly

For investors, there are three big takeaways. The first is that Total is still predominantly an oil and gas company, a fact that won't change for many years. Second, it has taken a long-term view of the world's power needs and is slowly shifting gears to adjust. Third, although the low-carbon business is relatively small today, it should be monitored closely.

Total is taking a cautious approach in this division, to be sure, but growth is going to pick up notably following the Direct Energie acquisition. And while Total appears to be keeping within its comfort zone, investments outside of the oil and gas business are clearly not core operations today. More than one company has attempted to diversify outside its core and failed. The oil giant has the financial wherewithal to shift gears like this, but that doesn't mean it will be successful. This isn't meant to pour cold water on what appears to be a solid long-term move by Total. However, the Direct Energie deal suggests that investors should start paying more attention to this relatively small division because it is quickly becoming more important.

Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

[la forge] 03/6/2018 09:10

For shareholders who have not opted for a payment of the balance of the dividend in shares, the dividend will be paid in cash as of June 28.

[waldron] 01/6/2018 17:31

Total Unconvinced by Hydrogen Cars as France Unveils Subsidies
By Francois De Beaupuy
and Geraldine Amiel
1 juin 2018 à 09:20 UTC+2 Updated on 1 juin 2018 à 11:39 UTC+2

Government to spend $117 million by 2023 on hydrogen vehicles
Total CEO says hydrogen power one step behind electric battery

France’s biggest energy company expressed skepticism about the economics of hydrogen-powered vehicles as the government unveiled subsidies to promote the gas as way of cutting fossil-fuel consumption and fighting climate change.

“We find it difficult to be convinced it has a future in 10 years time,” Total SA Chief Executive Officer Patrick Pouyanne said in an interview with local daily Ouest France published on Friday. “This is still very expensive.”

On Thursday, the French government announced plans to spend 100 million euros ($117 million) by 2023 to subsidize the purchase of vehicles powered by hydrogen and encourage cleaner production of the gas. The policy aims to cut France’s carbon emissions caused by the production of hydrogen -- used in everything from oil refining to the production of glass, steel and fertilizers -- by 10 percent within five years, while encouraging a more than 20-fold increase in vehicles powered by the gas.

The government will subsidize private companies to help them purchase 5,000 vans and 200 trucks, buses, boats and trains powered by hydrogen by 2023, it said in a presentation late Thursday. That compares with just 260 vehicles currently using hydrogen cells in France. It will also subsidize the installation of electrolyzers to help manufacturers produce hydrogen on site instead of trucking it in.
Hydrogen Advocates

French companies such giant gas producer Air Liquide SA, McPhy Energy SA, a maker of electrolyzer and hydrogen filling stations, and Engie SA, the country’s second-largest utility, are advocating greater use of hydrogen to power vehicles. However, carmakers PSA Group and Renault SA have fallen behind Japan’s Toyota Motor Corp. and Korea’s Hyundai Motor Co. in that domain, focusing instead on developing battery-electric cars.

Proponents of hydrogen point out that the fuel cells can run for a lot longer than batteries, and filling a car tank takes just a few minutes. It’s also a way to produce and store clean energy if electrolyzers are using excess wind and solar power, as fuel cells create electricity by chemically fusing with hydrogen with oxygen in the air, emitting just steam in the process.

”Hydrogen will be a necessary complement to the electric mobility,” Engie head of business to business, Franck Bruel, said at a conference in Paris on Friday. “It’s the solution to the intermittency of new energies” and will ”therefore contribute to the decline in their costs.”

Read more: California’s Eight-Figure Hydrogen Subsidies Aren’t Paying Off

France’s Alstom SA is testing a hydrogen-powered train in Germany, while McPhy said it has a pipeline of ”very short term” commercial opportunities worth 80 million euros. McPhy is in ”advanced talks” for electrolyzer projects of more than 100 megawatts, CEO Pascal Mauberger said Friday, as he welcomed the government plan.

McPhy shares rose as much as 12 percent, the most in almost a year, in Paris trading and were 6.7 percent higher as of 11:35 a.m. local time.

However, hydrogen fuel cells remain expensive, while huge investments in lithium-ion battery technology are pushing down prices of electric vehicles. There is also limited availability of hydrogen filling stations.

“The electric battery is still one step ahead,” said Pouyanne, adding that Total will develop a network of electrical charging stations while investing in natural gas for trucks.
French Targets

Big Oil is preparing for a future in which fossil fuels are diminished in the energy mix. In April, Total agreed to buy Paris-based utility Direct Energie, after previously acquiring French battery maker Saft Groupe SA and taking a minority stake in France’s Eren Renewable Energy SA.

Rival Royal Dutch Shell Plc has said hydrogen may offer a solution to storing power in the long term, and last year raised the idea of a grid based on the lightest element. Shell entered a joint venture with partners such as Daimler AG to dispense hydrogen from its filling stations in Germany, aiming to roll this out at 400 locations by the early 2020s.

France targets 100 hydrogen stations by 2023, up from about 20 currently. That number would rise to between 400 and 1,000 by 2028 to supply as many as 50,000 vans and 2,000 heavy vehicles, the government said. France will also test the injection of a fraction hydrogen in natural gas networks.

By contrast, France aims to have 600,000 electric vehicles on the roads by 2022, up from 120,000 now, and 400,000 hybrids, Economy Minister Bruno Le Maire said on May 22. The government will help increase the number of electric charging points almost five-fold to 100,000 by then, assuming sales of electric cars meet its target.

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[waldron] 01/6/2018 17:00

Total
52.73 +1.31%

Engie
13.56 +0.18%

Orange
14.79 +0.44%

FTSE 100
7,701.77 +0.31%
Dow Jones
24,618.38 +0.83%
CAC 40
5,465.53 +1.24%

Brent Crude Oil NYMEX 76.63 -1.50%
Gasoline NYMEX 2.14 -1.36%
Natural Gas NYMEX 2.94 -0.30%



BP
576.7 +0.07%


Shell A
2,616.5 +0.36%


Shell B
2,698 +0.78%


WE END THE WEEK ON AN UP NOTE AND LOOK FORWARD TO A POSITIVE NEW MONTH OF GAINS

[sarkasm] 01/6/2018 16:04

Le projet de forage au large du Brésil mené par Total ne pourra se faire que "dans le respect de l'environnement", a assuré vendredi son PDG Patrick Pouyanné, après avoir été spectaculairement interpellé par des militants de Greenpeace.


"On le fera dans le respect de l'environnement ou on ne le fera pas", a-t-il assuré à quelques journalistes, à l'issue d'une assemblée générale des actionnaires perturbée par l'intrusion de dizaines de défenseurs de l'environnement.


L'Institut brésilien pour l'environnement (Ibama) a une nouvelle fois demandé mardi au groupe pétrolier de revoir sa copie, considérant les études d'impact environnemental "insuffisantes" pour ce projet à l'embouchure du fleuve Amazone.


"On a quatre mois pour répondre, on nous demande de faire des études complémentaires et on va les faire", "on va répondre et on continuera à avoir ce dialogue", a assuré Patrick Pouyanné.


De son côté, l'ONG Greenpeace affirme que le récif corallien du fleuve Amazone, découvert en 2016, est plus grand que ce que l'on pensait et s'étend dans des concessions où Total veut chercher du pétrole.


L'assemblée générale de Total s'est déroulé;e en présence de quatre militants suspendus au plafond du Palais des congrès de Paris avec des panneaux comme "sauvons le récif de l'Amazone".


"Il y a des coraux et des récifs coralliens à trente kilomètres, dans les zones peu profondes, mais dans les zones profondes où nous sommes - puisque nous forons par plus de 1.800 mètres d'eau - il y a des zones meubles qui ne sont pas susceptibles d'abriter des coraux", a détaillé Patrick Pouyanné.


"Les risques qui sont mis en avant, de notre point de vue, n'existent pas", a-t-il poursuivi.


Le puits d'exploration envisagé "n'est pas particulièrement compliqué" et n'a par exemple rien à voir avec celui du champ Macondo dans le golfe du Mexique, où une plateforme de BP avait explosé en avril 2010, tuant 11 personnes et entraînant une marée noire, selon lui.


"On n'a pas envie, après ce qui s'est passé à Macondo et qui a coûté plus de 60 milliards de dollars à BP, d'exposer Total à un tel risque. Donc si nous proposons ces projets, c'est que profondément nous avons confiance dans le fait que nous sommes capables de les mener à bien sans prendre ce risque environnemental de pollution", a insisté Patrick Pouyanné.


Total a aussi déposé une demande d'autorisation pour réaliser un puits d'exploration début 2019 dans le cadre de son permis Guyane Maritime, au large du territoire français frontalier du Brésil.


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


June 01, 2018 10:04 ET (14:04 GMT)

[waldron] 31/5/2018 17:11

Total
52.05 +0.29%

Engie
13.535 -1.35%

Orange
14.725 -0.20%

FTSE 100
7,678.2 -0.15%
Dow Jones
24,506.11 -0.66%
CAC 40
5,398.4 -0.53%

Brent Crude Oil NYMEX 77.92 +0.28%
Gasoline NYMEX 2.16 -0.82%
Natural Gas NYMEX 2.96 +2.31%



BP
576.3 +0.49%


Shell A
2,607 -0.48%


Shell B
2,677 -0.37%