Total (TOT +0.3%) could have as much as $10B available for M&A, but BAML thinks the French...

|By:, SA News Editor

Total (TOT +0.3%) could have as much as $10B available for M&A, but BAML thinks the French oil giant should be wary of looking at Australia after a rush of 10 deals Down Under since 2006 has generated disappointing returns from its liquefied natural gas projects. The most logical M&A areas for TOT would be Mozambique and perhaps liquids-rich U.S. unconventional plays.