FPSO Mero 2 expected to produce 180,000 BOPD SBM Offshore N.V., a holding company headquartered in Amsterdam, signed a letter of intent this week with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease to operate its floating production storage and offloading (FPSO) vessel Mero 2. FPSO Mero 2 will be deployed at the Mero field in the Santos Basin, located
From Reuters PARIS (Reuters) – France’s Total on Tuesday declared force majeure on the production of jet fuel at its Leuna refinery in Germany following the supply of contaminated crude from Russia. “We have declared Force Majeure on the jet fuel from the Leuna refinery,” a Total spokeswoman said. The spokeswoman said that due to ongoing problems with crude supply
From Reuters It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron’s $33 billion bid for Anadarko in April with an offer that includes
From Bloomberg Total SA’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world. The Brulpadda find, with reserves estimated
From Reuters Total has agreed to buy a 10 percent stake in the Arctic LNG 2 project from Russia’s Novatek, as the French energy group looks to build up its presence in the area to service a fast-growing Asian market. The companies said on Tuesday Total would also have the opportunity to buy a 10-15 percent direct interest in all
New find could contain three times more resources than all South Africa’s previous gas finds to date: Wood Mac By Richard Rostad, analyst, Oil & Gas 360 Total announced a major gas condensate discovery today in an unexpected location: South Africa. The company’s Brulpadda well, targeting prospects located roughly 110 miles off the coast of South Africa, has discovered significant
From Reuters Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria’s coast, part of a shift by the French energy firm toward deepwater oil and gas projects to its drive cashflow. Output from Egina, which is located in waters about 1,600 meters (5,250 ft) deep, is expected to plateau at 200,000 barrels per day
From Reuters French energy giant (TOTF.PA) is in advanced talks with Albion Energy and First Alpha Energy Capital, two privately owned firms, on the sale of some of its British North Sea assets, according to two industry sources. In July, four banking sources told Reuters Total is set to sell a third of its stake in the Laggan Tormore gas
From Reuters French energy group Total and Sempra Energy have signed a memorandum of understanding on the north American liquefied natural gas (LNG) market, which could see Total acquire a further stake in the sector. The deal could see Total take a contract for approximately up to 9 million tonnes per annum (Mtpa) of LNG offtake across Sempra Energy’s LNG
But high oil prices may not be good for economy, oil companies: CEO From Bloomberg Total SA is among a growing chorus that sees $100 oil on the horizon. But the French energy giant isn’t thrilled about it. Chief Executive Officer Patrick Pouyanne sees supportive elements, such as looming sanctions on Iran and disruptions in Venezuela, that are stripping supply from the
From Reuters Oil and gas major Total, said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa’s Gulf of Guinea region, Brazil and U.S. Gulf area. Production from deepwater projects is expected to reach 500,000 barrels of oil equivalent per day
Saudi Aramco and Total (ticker: TOT) have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. Located next to the SATORP refinery in the same industrial area, the complex will comprise a mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value
