- Total (TOT) reportedly is planning to sell its 10% stake in the Shah Deniz II gas field in Azerbaijan, making it the second major oil company to downsize there in less than a year.
- TOT is moving to cut costs as the project enters its $28B second phase, and is in line with plans to sell off up to $20B is assets during 2012-14.
- TOT says it is shifting focus from Shah Deniz to another Azeri gas field, Absheron, in which it owns a 40% stake.
- According to BP, Shah Deniz eventually will produce 16B cubic meters per year, equivalent to Europe’s annual gas consumption.
- TOT +1.8% premarket.
Total looks to sell stake in Azerbaijan gas field
From other sites
at Nasdaq.com (Jan 16, 2015)
at CNBC.com (Jan 15, 2015)
at CNBC.com (Jan 13, 2015)
at Nasdaq.com (Jan 13, 2015)
at Nasdaq.com (Jan 8, 2015)
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