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2014-04-13 18:07:00

TOTAL'S $4B

TOTAL'S $4B

A Total SA oil project in Angola worth $4 billion is on the cusp of getting a green light for investment, the head of the French oil company said Friday.

Speaking on the sidelines of a Paris oil conference, Total CEO Christophe de Margerie said Angola's Kaombo is "on the verge" of receiving a financial investment decision—which will kick start the project development.

The project, which is 30%-owned by Total and is set to start producing in 2017, will have a capacity of 230,000 barrels a day—about 15% of Angola's output.

The company has also slashed the overall capital expenditure from an initial $16 billion, Mr. de Margerie said, as part of a companywide effort to cut spending and focus on profitability. A person familiar with the matter said the official announcement is set to come as early as Monday.

WSJ.COM

Tags: TOTAL, OIL, ANGOLA

Chronicle:

TOTAL'S $4B
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

TOTAL'S $4B
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

TOTAL'S $4B
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

TOTAL'S $4B
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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