Total CFO to Retire this Year
Total Chief Financial Officer Patrick de La Chevardiere is to retire by the end of this year, a spokesperson for the French oil and gas major said on Friday.De la Chevardiere has been Total CFO for the last 11 years and has been with the firm for 37 years, his LinkedIn profile showed.Total's spokesperson declined to comment on a report in French business magazine Challenges that he would be succeeded by Jean-Pie
Total: Will be Disappointed if it Misses Out on Qatar LNG Expansion
French oil and gas major Total will be disappointed if it misses out on Qatar's planned liquefied natural gas (LNG) expansion, the company's Chief Financial Officer said on Friday."We are very interested in Qatar LNG with the decision made by the Qataris to increase their capacity with four trains of roughly 30 million tonnes," Patrick de La Chevardiere told analysts during a call."We'll be disappointed if we ar
Total Won't Accept Fort Hills Cost Increases
French oil and gas company Total said on Thursday that it was not ready to accept substantial cost increases in the Fort Hills oils sands project in Canada, which has led to a commercial dispute with Suncor. Total's Chief Financial Officer Patrick de la Chevardiere told analysts in a call following the company's second quarter earnings that it was in discussion with Suncor to reduce costs.
Total in Final Stage of Yamal LNG Financing Deal
French oil and gas company Total is in the final stage of negotiating a $4 billion financing arrangement with Russian banks to fund the Yamal LNG project, the company's Chief Finance Officer told analysts on Wednesday. Patrick de La Chevardiere said during the call that Total was working on some acquisition opportunities but declined to mention names.
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.
Total Beats Expectations on Record Refining Margins
French oil and gas company Total's reported better than expected third-quarter profit on Thursday after high margins in its European refining business and increased production softened the blow of prolonged low oil prices. A lower-for-longer outlook for oil prices took its heaviest toll yet as oil companies reported a dramatic drop in income in the third quarter, with some even falling to a loss.
EU's Gasoline Refiners Eye Profit in VW Scandal
European gasoline demand expected to rise in coming years; Coastal refineries with high gasoline output could benefit. Some of Europe's struggling refineries could get an unexpected boost from Volkswagen's diesel emissions scandal if once-dominant gasoline regains its popularity. Europe's refineries, many of which were built in the 1950s to support booming petrol demand…
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…
Total Shedding More Assets, Cuts Output Estimate
Cuts 2017 output target, 2015 free cash flow goal, keeps 2017 free cash flow goal at $15 bln. French oil company Total is to sell more assets and cut costs to generate more cash and is to revamp exploration plans after reducing its oil production target. Total, which has struggled with production outages in Libya, Kazakhstan and Nigeria…
Total stops buying Novatek shares after MH17 shot down
Q2 net adj profit down 12 pct to $3.15 bln; Yamal development operations continuing, review in August. Total: impact of Russia sanctions on Yamal LNG uncertain. French oil major Total stopped buying shares in Russia's Novatek when a Malaysian airliner was shot down over Ukraine, but it is still too early to gauge the impact of western sanctions against Russia, Total said.
