Total yesterday announced that a security pact has been signed with the Mozambique government to protect a US$20 billion liquified natural gas (LNG) project in the Southern African country. Government security forces have been engaged in a low-level insurgency against militias suspected of having links to...
Total has announced it will take an US$8 billon impairment on the value of its assets, mainly in carbon-intensive oil sands projects, following the collapse in oil demand earlier this year during the COVID-19 crisis. The French energy major slashed its oil and gas price outlook,...
SSE Renewables has reached financial close on the 1075MW Seagreen offshore wind project off the coast of Scotland after reaching a deal with Total for a 51% stake in the venture. The clean energy developer will sell the shareholding to French energy major Total for an...
BP’s 50%-owned solar energy firm Lightsource BP yesterday closed a US$250 million financing package for a US-based project, while fellow oil major Total followed suit in confirming a deal to acquire a French wind power company. Despite fears surrounding the potential impact of the COVID-19 outbreak,...
French oil major Total has cemented its position as the UK’s top gas producer after bringing online the Culzean field in the North Sea ahead of time and under budget. The Culzean field, operated by Total with a 49.99% interest along with BP and JX Nippon,...
Total has signed an agreement with Toshiba that will see it take over the Japanese group’s LNG business in the US, as the French energy giant looks to become a major player in the global LNG market. Under the transaction, Total will acquire all the shares...
Total SA’s chief executive Patrick Pouyanne has said his company’s planned acquisition of US oil firm Anadarko’s African assets is ‘perfectly fitting’ with its overall strategy. The French energy giant agreed to buy all of Anadarko’s oil & gas assets outside the US for US$8.8 billion,...
Patrick Pouyanne, chief executive of French oil giant Total, has revealed the company will approve plans to proceed with the Ikike project in Nigeria in the coming months. The 60,000 barrels per day (bpd) offshore facility is one of several projects owned by Total in Nigeria....
Chevron, Total and Indian refiner Reliance Industries are the latest major oil companies to have joined London-based blockchain trading platform Vakt. Vakt was created in 2017 by a consortium comprised of BP, Royal Dutch Shell and Norway’s Equinor to be one of the first blockchain pilot...
The world’s largest oil companies spent only around 1% of their budgets on clean energy in 2018, but European firms have made greater investments in low carbon technology compared to their US and Asian counterparts. A fresh study by environmental research organisation CDP found that Europe’s...