Total CEO: Governments Not Oil Firms Must Drive Carbon Curbs
It is up to governments to drive decarbonisation and consumers will have to pay more to achieve carbon neutrality, Total's chief executive said, adding the French firm has no intention of moving away from oil and gas production.Oil firms should not be seen as "villains" amid growing pressure from investors and climate activists, chief executive and chairman Patrick Pouyanne told Reuters at Total's headquarters in the Scottish oil hub of Aberdeen.Giving up on oil and gas would be "a huge mistake"…
Last Yamal LNG Arctic Ships on Sea Trials
The last of 15 Arc7-classed tankers ordered for the liquefied natural gas (LNG) production plant Yamal LNG in Russia's Arctic north are undergoing sea trials around a South Korean shipyard, Refinitiv Eikon shipping data showed on Monday.The Georgiy Ushakov and Yakov Gakkel LNG tankers are both in water at the Daewoo Shipbuilding and Marine Engineering (DSME) Okpo shipyard in South Korea and indicating they are performing sea trials, the data showed. The Vladimir Voronin, meanwhile, finished its sea trials and has left the Sea of Japan, setting Yamal LNG as its destination.
Christophe de Margerie Loads First Cargo from Third Train Yamal LNG
The Arctic LNG carrier Christophe de Margerie, owned and operated by Sovcomflot, loaded the first batch of liquefied natural gas (LNG) produced at the third train of Yamal LNG plant, at the Port of Sabetta on the Yamal Peninsula.Dmitry Medvedev, the Russian Prime Minister, initiated the start of cargo operations via a video conference with the vessel’s Master Sergey Zybko.Dmitry Medvedev congratulated Yamal LNG on reaching full production capacity and noted:“This is a significant milestone for the entire Russian gas industry and…
US Could Get First LNG Import from Russia despite Sanctions
A vessel that may be carrying liquefied natural gas from Russia's new Yamal LNG export terminal could be heading to the United States despite sanctions against the company that operates the Russian facility, according to a report by S&P Global Platts and Thomson Reuters shipping data. The tanker Chris. De Margerie picked up a cargo from Novatek PAO's Yamal facility, Russia's second LNG export terminal, on Dec. 9 and dropped it off at National Grid Plc's Isle of Grain LNG facility near London on Dec. 28, according to Thomson Reuters data.
Novatek Sells First Yamal LNG Cargo to Petronas
Russia's largest non-state gas producer Novatek has sold its first liquefied natural gas cargo of 170,000 cubic metres from the Yamal LNG project, with Petronas LNG UK Ltd (PLUK) the buyer. Novatek launched loadings from the $27 billion Yamal LNG project on Friday. Novatek's head Leonid Mikhelson has said Yamal LNG will ship three gas cargoes by the end of 2017 and start selling fuel under long-term contracts after April 2018. According to the Reuters data, the first tanker, called Christophe de Margerie after the ex-head of France's Total , sailed westwards from the Yamal port of Sabetta.
Putin Okays Loading Start at Yamal LNG
President Vladimir Putin on Friday launched the first loading of liquefied natural gas at the Novatek-led Yamal LNG project in the Arctic, which will further expand Russia's global energy reach. The Yamal project, which required investments of $27 billion, will allow Russia to fulfil a plan to double its share of the global LNG market by 2020 from around 4 percent now. The LNG was loaded onto the ice class tanker "Christophe de Margerie", named after the former head of France's energy major Total, who died in a plane crash in Moscow in 2014. Total holds a 20 percent stake in Yamal LNG.
Russian Judge to Hear Suspects in Total CEO Death Case
A Russian court will hold a preliminary hearing on the death of the ex-boss of French oil major Total on Thursday, a judge said, paving the way for a possible trial of airport employees almost two years after the magnate's jet crashed at a Moscow airport. Christophe de Margerie, the chief executive of France's largest listed company, was killed in October 2014 along with three air crew when his jet hit a snow plough just as it was taking off from Moscow's Vnukovo airport in the middle of the night.
Total, Eni Bet on New Finds as Rivals Cut Costs
As oil firms slash billions of dollars of investment to survive the market crash, France's Total and Italy's Eni are making some of the smallest cuts, gambling in the hope of big-ticket discoveries that will reward them when prices recover. Both approaches carry risks. Intensive exploration programmes mean higher costs and lower profits in the short term, with no guarantee of finding new fields. But firms that scale back too far may damage future growth prospects, forcing them to splash out on acquisitions.
Total's Pouyanne Expected to be Named Chairman
Total Chief Executive Officer Patrick Pouyanne is expected to be appointed as chairman of the French oil and gas giant on Wednesday, combining both roles again a year after they were split following the death of Christophe de Margerie, who had held both positions. The roles were divided between Pouyanne, 52, who became chief executive, and Thierry Desmarest, who was recalled to take the role of chairman after Margerie's passing. Desmarest, who will turn 70 on Friday, will step down due to rules on age limits.
Total's New CEO a Good Fit
Pouyanne took over as Total CEO a year ago. Total's boss is known as a fixer; a straight-talking cost cutter who has emerged as the right person to steer the French oil and gas company through one of the industry's worst downturns in decades. The 52-year-old Patrick Pouyanne could not be more different from his predecessor, the flamboyant Christophe de Margerie, who died last October in a plane crash outside Moscow. While de Margerie excelled at making big deals in upstream exploration when money flowed during the oil price boom between 2011 and 2014…
Total Faces Legal Test over Iran Contracts
French oil company Total is to face trial in France over corruption allegations relating to Iranian contracts dating from the 1990s and early 2000s, the Paris prosecutor's office said on Tuesday. Total agreed last year to pay $398.2 million to settle U.S. criminal and civil allegations that it paid bribes to win oil and gas contracts in Iran, in what was billed as the first coordinated action by French and U.S. law enforcement in a major foreign bribery case. At the time, the Paris prosecutor recommended that the company and its then chief executive, Christophe de Margerie, be brought to trial.
Total CEO: EU Must Fight US Crude Export Law
First major public appearance of new Total head; he challenges European politicians to fight US ban. The new head of French energy major Total challenged Europe to fight Washington over the U.S. oil export ban, in his first public appearance since his predecessor Christophe de Margerie was killed in a Moscow plane crash last week. Patrick Pouyanne said on Thursday the export ban flouts free-trade agreements and puts European and Asian refiners at a disadvantage, making a bold appeal to European politicians.
Total Profits Beat Street, CEO Reaches Out
Net adjusted profit down 2 pct to $3.56 bln; Oil and gas output down 8 pct to 2.122 mln boepd. French oil company Total's new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits. Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the top post following the death this month of its charismatic chief executive Christophe de Margerie in a plane crash in Russia.
Desmarest Quits Sanofi Board to Focus on Total Role
Sanofi said on Tuesday that Thierry Desmarest had resigned from the board of the French drugmaker to focus on his role as chairman of oil group Total following the sudden death of Christophe de Margerie. De Margerie had held both the chairmanship and the CEO roles until he was killed in a plane crash in Moscow on Oct. 20. Total has named Patrick Pouyanne as CEO alongside returning chairman Desmarest. Former Total chief executive Desmarest, 68, previously honorary chairman of the oil group, will keep the chairmanship position until the end of 2015…
Total CEO Plane Crash: Russian Prosecutors Detain More Suspects
Russian prosecutors detained four Moscow airport workers and denied bail to the driver of a snow plough which hit a private jet killing the CEO of French oil company Total earlier this week, officials said on Thursday. Russia's investigative committee has moved quickly to detain those it says might be responsible for the crash, which killed Christophe de Margerie in a tragedy which has done little to improve Russia's reputation for poor air safety. The chief executive of Moscow's Vnukovo airport and his deputy resigned over the crash…
Areva Names COO Knoche Interim Chairman and CEO
French state-controlled nuclear group Areva said on Wednesday its Chief Operating Officer Philippe Knoche would hold the chairman and chief executive powers of the group until its next general assembly. Areva, which held its last annual shareholders' meeting in May this year, said earlier this week its current head Luc Oursel had decided to step aside for health reasons but would remain available in order to ensure a smooth transition. Oursel has run the company since 2011, but pressure has mounted on him this year as the group…
Total Names Refining Boss to Replace de Margerie
French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a reputation as a shrewd cost-cutter. The world's fourth largest oil company also named Thierry Desmarest, a former Total CEO, as non-executive chairman. The appointments came less than 48 hours after de Margerie's death.
Total Names Pouyanne, Desmarest to C-Suite Slots
French oil major Total on Wednesday appointed refining head Patrick Pouyanne as chief executive and former CEO Thierry Desmarest as non-executive chairman. The nominations at the head of the world's fourth-largest integrated oil company came less than 48 hours after the brutal death of Chairman and CEO Christophe de Margerie in a plane crash in Moscow. Desmarest, previously honorary chairman of the oil group, will keep his new position until the end of 2015, after which the roles of CEO and chairman would again be combined, Total said in a statement following an emergency board meeting.
Total CEO Killed in Moscow Runway Accident
Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night. De Margerie's death leaves a void at the top of one of the world's biggest listed oil firms at a difficult time for the industry as oil prices fall and state-backed competitors keep them out of some of the best oil exploration territory.
French Prosecutors Open Probe into Total's CEO Death
Paris prosecutors opened a manslaughter investigation following the death of Christophe de Margerie, the head of French oil group Total, in a plane crash in Russia, a judiciary source told Reuters on Tuesday. Separately, French accident investigation agency BEA said it would participate in Russia's Total air crash inquiry, sending three investigators to Moscow later on Tuesday. De Margerie was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night. Reporting by Marine Pennetier
