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TOTAL S.A.

5/24/2013, 8:49 PM ET

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Thursday, May 23, 10:43 AM The fastest revenue growth in the oil industry is putting Papua New Guinea’s Oil Search (OISHF.PK) in line for Asia's largest-ever energy takeover, Bloomberg speculates. Its $19B PNG LNG venture with Exxon, sure to spin off lots of cash, starts shipments to Asia next year, and the 80%-complete project is supported by the government and local communities. XOM, TOT and Australia's Woodside could be interested. Comment! [Energy]
Wednesday, May 22, 2:33 PM Total (TOT -0.7%) approves a €1B project ($1.29B) to modernize its Antwerp refining and petrochemical platform, the company's largest in Europe. TOT says the project is part of its strategy of focusing investment on its large integrated platforms to position them among the most competitive in the industry. Comment! [Energy]
Monday, May 20, 10:47 AM Abu Dhabi’s state oil company is under pressure to take a quick decision on which foreign companies will get concessions in one of the few major oil producing areas in the Persian Gulf where international companies are still allowed to hold an equity interest. Prequalified companies are BP, XOM, RDS.A, TOT, STO,OXY, E, PTR, OJSCY.OB, Inpex, Korea National Oil. Comment! [Energy, Global & FX]
Friday, May 17, 11:58 AM Major oil producers launch a joint program to beef up their Arctic oil spill response plan in a bid to convince the Arctic Council they are ready for large-scale development in the region. There are plenty of doubters, of course, and incidents such as BP 2010 Gulf of Mexico spill and Shell's recent problems north of Alaska with two drill ships don't help. 6 Comments [Energy]
Friday, May 17, 8:56 AM Workers in Angola are completing construction of the strongest crane in Africa, with a capacity to lift 2,500 metric tons, to be used at offshore projects for Chevron (CVX), Total (TOT) and SBM Offshore. The second phase of CVX’s $5.6 billion Mafumeira Sul project is expected to produce 110K bbl/day by 2015, and TOT’s Clov project may start pumping crude next year. Comment! [Energy, Global & FX]
Friday, May 17, 8:25 AM Total's (TOT) Christophe de Margerie confirms medium-term production targets of 3%/year average increases during 2011-15 and 3M boe/day by 2017, noting the acquisition of several deepwater blocks off Brazil as part of a new policy for riskier exploration locations. He also reassures shareholders that TOT won't explore for oil in Congo's Virunga National Park. Shares +1.3% premarket. Comment! [Energy]
Thursday, May 16, 9:06 AM Total (TOT) says it was awarded 10 exploration licenses on several blocks in Brazil during the country's oil and gas exploration auction. TOT will be operator for six blocks, five blocks in the Amazonas basin where it will hold a 40% interest, and one in the Ceara basin where it will hold a 45% stake. TOT says the moves are consistent with its strategy of looking for oil and gas in risky areas such as deep offshore sites. Comment! [Energy]
Wednesday, May 15, 10:23 AM Royal Dutch Shell (RDS.A, RDS.B) says it reaches agreement with Total (TOT) for the sale of its retail and commercial fuels activities in Egypt for an undisclosed sum. Shell is holding on to its lubricants business in the country, and emphasizes that its upstream business is not impacted. Comment! [Energy, Global & FX]
Tuesday, May 14, 3:08 PM Exxon (XOM +0.8%) teams with OGX (OGXPY.PK) to win deepwater exploration blocks in Brazil's promising Potiguar region at the country's first energy auction in five years. OGX will pay 20M reais ($10M) for the rights to one block, and the OGX-XOM consortium agree to pay 81.9M reais for another. Total (TOT) gains access to operate five blocks in the Amazon basin together with partners BP and Petrobras (PBR). Comment! [Energy, Global & FX]
Friday, May 10, 8:56 AM Eni (E) says it now expects oil output from the massive Kashagan field in Kazakhstan to begin by October. The Kashagan project, which includes large oil companies such as Exxon (XOM), Shell (RDS.A, RDS.B) and Total (TOT), is years behind initial schedule and has had cost overruns worth billions of dollars. 1 Comment [Energy, Global & FX]
Tuesday, May 7, 6:53 PM Enbridge (ENB) plans to spend ~$300M on infrastructure to handle expanded production from the Surmont oil sands project owned by ConocoPhillips (COP) and Total (TOT). ENB will construct two new 450K-barrel blend tanks and convert an existing tank from blend to diluent service, install manifolds to facilitate transfers to its Waupisoo Pipeline and upgrade associated equipment. 1 Comment [Energy]
Thursday, May 2, 6:23 PM Shell (RDS.A) may have taken the lead - at least in the rumor mill - as the bidder most likely to succeed in winning a share of InterOil’s (IOC) LNG project in Papua New Guinea, Platts reports. Shell’s perceived advantage over Exxon (XOM) and Total (TOT) centers on its existing relationship with the PNG government, strengthened by its ownership of emerging floating LNG technology. 11 Comments [Energy]
Tuesday, April 30, 11:58 AM Royal Dutch Shell (RDS.A, RDS.B) confirms it has won the race to participate in the development of the Bab sour gas project in Abu Dhabi aimed at supplying Middle Eastern markets. Shell will own a 40% stake in the JV, with Abu Dhabi's state-run Adnoc holding the remainder. Total (TOT) also had been interested in the project. Comment! [Energy, Global & FX]
Tuesday, April 30, 10:57 AM Uganda's government says it may approve construction of a 120K bbl/day pipeline to export crude oil via the east African coast once drilling starts in the country's oil-rich Lake Albertine rift basin, easing concerns over oil development plans in the country among JV partners Total (TOT), Tullow Oil (TUWLF.PK) and Cnooc (CEO). Earlier this month, the government approved a 30K bbl/day refinery after a two-year deadlock. Comment! [Energy, Global & FX]
Monday, April 29, 8:59 AM KazMunaiGas, Kazakhstan's no. 2 oil producer, says it plans to invest ~$10B in exploration during the next 10 years as it aims to nearly double its oil and gas reserves, but it will not buy out ConocoPhillips' (COP) 8.4% stake in the Kashagan field, the world's largest oil discovery in more than four decades. KazMunai holds a 16.8% stake in Kashagan, along with XOM, TOT, RDS.A and E. Comment! [Energy, Global & FX]
Friday, April 26, 9:59 AM Despite a 2% decline in its oil and gas production, Total (TOT -0.5%) says it is on track to grow its oil and gas output by an average 3%/year between 2011-15, with an acceleration of that pace after 2017. A large part of TOT's Q1 fall in output was due to the shutdown of its Elgin-Franklin gas field in the North Sea, underscoring the challenges it faces in achieving its target. Comment! [Energy]

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