Tag: Total
France’s Total becomes 2nd largest global LNG company with $1.49 billion acquisition
Total expects LNG market to grow 5% to 6% annually Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion, according to a press release. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron […]
CCS technology a possible profit maker for oil majors
Carbon capture and storage (CCS) development has been held back due to high costs Carbon capture and storage, or CCS, technology could help industries known for having large carbon footprints reduce their CO2 emissions even though demand for their products is on the rise. The International Energy Agency forecasts the demand for steel, chemicals and […]
Savanna Energy board of directors resigns amid Total takeover
All the directors of Savanna, with the exception of Allen Brooks, resigned Savanna Energy Services Corp. and Total Energy Services Inc. announced the current board of directors of Savanna have all resigned save one, according to a press release. Chris Strong also announced he has resigned as president and CEO of Savanna. The new Savanna board will […]
Total Energy acquires majority of Savanna shares in hostile takeover bid
Total Offer is scheduled to expire at 12:00 PM (Pacific time) on April 7, 2017 Total Energy Services Inc. says that on March 24, 2017 it acquired a majority of the outstanding common shares of Savanna Energy Services Corp., according to a company press release. The process for Total Energy to acquire additional common shares of […]
$1.7 billion Total Texas investment in polyethylene, steam cracker JVs
Total Texas JV with Austria’s Borealis and Canada’s Nova Chemical On Monday, Total announced it will be entering a joint venture with two companies in a steam cracker unit and a new Borstar® polyethylene unit on the US Gulf Coast. The Total Texas investments are valued at $1.7 billion. The French energy company is expected […]
Total in talks to buy Iranian LNG project-sources
Total eyes cut-price stake in partially built Iranian LNG export facility By Oleg Vukmanovic and Bate Felix MILAN/PARIS, Feb 27 (Reuters) – Total is in talks to buy a multi-billion dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major — the first […]
Iran grumbles as French oil giant Total waits for Trump approval before signing contract
Total, Iran working on $2 billion gas project deal BEIRUT (Reuters) – Iran’s oil minister said that the first of its new contracts would be finalized with Total within two months, according to the Mehr News agency. Bijan Zanganeh said that a contract was still being pursued with Total but noted recent comments from the […]
Consortium led by French group Total wins Ivory Coast LNG deal
Ivory Coast LNG By Loucoumane Coulibaly ABIDJAN, Nov 25 (Reuters) – French oil major Total , the Ivorian state oil company and four other partners have formally established a consortium to build an Ivory Coast LNG import terminal meant to feed the country’s growing electricity consumption. Demand for electricity is rising in Ivory Coast – which […]
America is not an oil swing producer, says energy economist
10% is not enough compensation for American capital just now – Hirs Rex Tillerson says the American shale oil sector has become the world’s swing producer, able to rapidly ramp up production in response to supply shortages. The Saudis, French supermajor Total, and energy economist Ed Hirs beg to differ. Tillerson – CEO of ExxonMobil, the […]
Total bucks Saddle Resources out of the Barnett Shale
Relative bargain for Total, which gains three-times its original stake in the play for around a quarter of the original cost By exercising its pre-emptive right to acquire Chesapeake’s 75 per cent interest, Total will become a 100 per cent owner and operator of the joint venture’s Barnett Shale assets and increase its exposure to US shale gas by […]
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