Key Developments: Total SA (TOTF.PA)

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Latest Key Developments (Source: Significant Developments)

Total launches Edradour development and acquires 60 pct interest in Glenlivet
Thursday, 3 Jul 2014 02:30am EDT 

Total SA:Says together with its partner DONG, it has decided to launch development of Edradour gas field in West of Shetland area.Says it has also acquired 60 pct interest in neighboring Glenlivet discovery.Tie backs of Edradour and Glenlivet to Laggan-Tormore are expected to add reserves of more than 65 million barrels of oil equivalent.  Full Article

CORRECTION - Total SA in talks with UGI Corp to sell Totalgaz
Wednesday, 2 Jul 2014 09:00am EDT 

(CORRECTED TO READ - "Total SA in talks with UGI Corp to sell Totalgaz"... INSTEAD OF... "Total SA to acquire all outstanding shares of Totalgaz"... IN THE HEADLINE).Total SA:Enters into exclusive negotiations with UGI Corporation parent company of Antargaz, after having received firm offer from U.S. company to acquire all outstanding shares of Totalgaz the Group's liquefied petroleum gas (LPG) distributor in France.Transaction under consideration is aligned with Total's strategy of assertively managing its asset portfolio.UGI's offer was presented at Special Meeting of the Central Works Council of the M&S UES and a Special Meeting of the Central Works Council of Totalgaz.  Full Article

Total announces CLOV start up in Angola
Wednesday, 11 Jun 2014 08:00pm EDT 

Total SA:Says it started-up CLOV, a deep offshore development located 140 kilometers offshore Luanda, Angola.With a production capacity of 160,000 barrels per day, CLOV will develop proven and probable reserves of over 500 million barrels.Block 17 production to increase to 700,000 barrels per day.  Full Article

Total SA signs long-term agreement to supply LNG to Pavilion Energy
Wednesday, 4 Jun 2014 09:55am EDT 

Total SA:Signs 10-year LNG sale and purchase agreement with Pavilion Gas, a subsidiary of Pavilion Energy.Says for supply of 0.7 mln tonnes per year of liquefied natural gas to Asia, including Singapore, starting in 2018.  Full Article

Total sells its 10 pct interest in Shah Deniz to TPAO
Thursday, 29 May 2014 08:00pm EDT 

Total SA:Signs agreement to sell its 10 pct interest in the Shah Deniz field and the South Caucasus Pipeline to TPAO, the Turkish state-owned E&P company.Transaction is valued at $1.5 billion.  Full Article

McPhy Energy announces opening of Berlin-Schoenefeld refuelling station where Total operates two H2 fuelling pumps
Monday, 26 May 2014 11:45am EDT 

McPhy Energy SA:Announces opening of Green Hydrogen Hub" (H2BER) of Total multi-energy fuelling station at Berlin-Schoenefeld.Project partners are Total Deutschland GmbH, Linde AG, McPhy SA, ENERTRAG AG and 2G Energy AG.CO2-neutral hydrogen will be produced on site in McPhy 45-bar pressure electrolyser, which will be operated by ENERTRAG.McPhy operates solid-state storage system with capacity of 100 kg.Linde is responsible for whole hydrogyen handling process from production in electrolyser to refuelling pumps.2G has installed block heat power plant which is operated using CO2-neutral energy sources and can convert "green" hydrogen into electricity and heat.Total operates two H2 fuelling pumps at the site, one for cars and one for buses.  Full Article

Total creates joint venture to explore and develop tight oil in Bazhenov
Friday, 23 May 2014 05:37am EDT 

Total SA:Signs agreement with Lukoil creating joint venture (JV) to explore and develop the tight oil potential of Bazhenov play in Western Siberia.Total will hold 49 pct of the JV and Lukoil 51 pct.JV will assess technical feasibility of developing tight oil potential of Bazhenov formation initially on 4 licenses covering an area of 2,700 square kilometers in Khanty-Mansi Autonomous District.Seismic acquisition will start in 2014 and exploration drilling will follow in 2015.Total will contribute its Lyaminskiy 3, Vostochno-Kovenskiy and Tashinskiy licences to the JV while Lukoil will add the Galyanovsky license.  Full Article

NK Lukoil OAO, Total SA plan to form Bazhen JV-Interfax
Thursday, 22 May 2014 04:04am EDT 

NK Lukoil OAO:Lukoil and France's Total are planning to form a 50/50 joint venture to develop the Bazhen tight oil play in West Siberia, Lukoil chief Vagit Alekperov told Interfax-Interfax.Reports have said the joint venture might explore and develop shale horizons in the Bazhenov Suite at two sections belonging to RITEK, a wholly owned Lukoil subsidiary.The properties are the Galyanovsky and Sredne-Nazymsky, Lukoil said in its annual report.A source at one of the companies has told Interfax that Total might contribute licenses to geological study of three Bazhenov Suite sections to a joint venture being formed with Lukoil.Total E&P Timan-Pechora LLC, a Total subsidiary, received licenses to the Vostochno-Kovensky, Tashinsky and Lyaminsky-3 sections in Khanty-Mansii autonomous district.The Tashinsky block, located in the Khanty Mansiysk district, has C3, D1 and D2 category oil resources of respectively 6.096 million tonnes, 14.387 million tonnes and 0.904 million tonnes, materials on the regional government website show.Lyaminsky-3, located in the Surgut district, has D1 and D2 oil resources of respectively 13.446 million tonnes and 1.011 million tonnes.Vostochno-Kovensky, located in the Khanty Mansiysk district, has D1L, D1 and D2 oil resources of respectively 0.117 million tonnes, 13.416 million tonnes and 0.579 million tonnes.  Full Article

Fitch revises Total SA's outlook to negative; affirms at 'AA'
Sunday, 11 May 2014 08:00pm EDT 

Fitch Ratings:Revises outlook on Total SA's Long-term Issuer Default Rating (IDR) to negative from Stable and affirms IDR at 'AA.Negative outlook reflects higher completion risks associated with Total's new upstream projects and potential that funds from operations (FFO) adjusted net leverage may stay above 1.5x in the medium term.  Full Article

Total announces Q1 2014 dividend
Tuesday, 29 Apr 2014 08:00pm EDT 

Total SA:Announces Q1 2014 interim dividend of 0.61 euros per share.Ex-dividend date Sept. 23.Record date Sept. 25.Payment date Sept. 26.  Full Article


Russian prosecutors detain more suspects in Total CEO plane crash

MOSCOW - Russian prosecutors detained four Moscow airport workers and denied bail to the driver of a snow plough which hit a private jet killing the CEO of French oil company Total earlier this week, officials said on Thursday.

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