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Total will not give up on Venezuela, CEO Pouyanne says

Apr. 19, 2018 7:23 AM ETTotalEnergies SE (TTE) StockTTEBy: Carl Surran, SA News Editor3 Comments
  • Total (NYSE:TOT) CEO Patrick Pouyanne says the company will not give up on Venezuela, despite the difficulties of working in a country wracked by hyperinflation, shortages and crime.
  • It is difficult for our people because of lack of power, lack of water. We were obliged to take out families that did not find it reasonable to remain there,” Pouyanne says, but "it is important to stay in a country even in difficult times because people will remember it."
  • Chevron said earlier this week that two of its executives had been arrested in Venezuela, a move likely to alarm many foreign firms.

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