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Tag Archives: Total SA

Iran makes $6 billion deal with Total, CNPC

total SA, Iran

According to the Wall Street Journal, Iran plans to sign a preliminary $6 billion deal with Total SA on Tuesday to help develop an onshore gas field. The move by Total is the first return by a Western energy company since sanctions were lifted this year. Total was long one of the most active Western oil companies in Iran, and ...

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France’s Total profit falls 30 percent due to oil price drop

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices. The Paris-based company said its sales for the April-June period were $37.22 billion, down from $44.72 billion in the year-earlier period. Chairman and CEO Patrick Pouyanne said the company will ...

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Oil prices lower profit at France’s Total despite cost cuts

Total SA headquarters in Paris, France. (Image: Joe deSoursa via Flickr)

PARIS (AP) — Lagging oil prices pushed first quarter profits down 40 percent at France’s Total SA, though cuts in costs and investments cushioned the blow. The energy company on Wednesday announced net income of $1.6 billion in the quarter, down from $2.66 billion in the same period last year. Sales fell to $32.8 billion from $42.3 billion in the ...

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Oil price drop pushes Total SA profit down 26 percent

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — Total SA says its fourth quarter earnings skidded 26 percent as the collapse in oil prices hit another global energy giant. The French company said Thursday that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier. Oil prices have been ...

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Texas company to seek buyers for Utica Shale acreage, other assets

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Texas-based EV Energy Partners plans to sell off Utica Shale assets in eastern Ohio next year, along with its interest in related processing facilities. There has been “enough drilling activity and consistent result to de-risk our assets and acreage,” said John Walker, the company’s executive chairman. The value of the company’s Utica Shale leases has grown significantly, Walker said in ...

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Total profit hit by drop in oil prices

View of French oil giant Total headquarters in the financial and business district of la Defense in Courbevoie near Paris October 21, 2014.   REUTERS/Charles Platiau

PARIS — French oil company Total SA says its earnings dropped in the third quarter due to the falling global price of oil. Total said Wednesday that its replacement cost profit, a key gauge of earnings for oil companies, slid 2 percent to $3.56 billion in the three months to September from $3.63 billion in the same period a year ...

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New Total boss must overhaul exploration strategy, pursue cost cuts

View of French oil giant Total headquarters in the financial and business district of la Defense in Courbevoie near Paris October 21, 2014.   REUTERS/Charles Platiau

PARIS (Reuters) – The sudden death of Total’s top executive may make it even trickier for the French oil major to overhaul its expensive exploration strategy while simultaneously cutting costs to please shareholders as oil prices fall. Total had recently taken the unusual step of naming an outsider to devise a new strategy after a costly three-year drive to increase ...

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Total CEO dead in runway crash; plow driver drunk

Total CEO Christophe de Margerie

MOSCOW — Christophe de Margerie, the charismatic CEO of Total SA who dedicated his career to the multinational oil company, was killed at a Moscow airport when his private jet collided with a snowplow whose driver was drunk, Russian investigators said Tuesday. Three French crew members also died when the French-made Dassault Falcon 50 burst into flames after it hit ...

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