Total's $4B Angolan oil project near investment approval


Total's (TOT +0.3%) $4B Kaomba oil project in Angola is on the verge of receiving a final investment decision, CEO Christophe de Margerie says.

The project, which is 30%-owned by TOT and set to start producing in 2017, will have a capacity of 230K bbl/day, ~15% of Angola's total output.

The CEO also says TOT has cut overall capital expenditure from an initial $16B as part of an effort to cut spending and focus on profitability; an official announcement reportedly could come next week.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs