The CEO of Europe's No. 3 oil producer, Total SA, says oil and gas output will be "close to...

|By:, SA News Editor

The CEO of Europe's No. 3 oil producer, Total SA, says oil and gas output will be "close to flat" in 2009. Christophe de Margerie had predicted an increase back in February, but "Oil demand is still low in Europe and the U.S. That’s why we need to stop running units which are not beneficial."