New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 29, 2014
08:22 EDTTOT, IOCInterOil scales up operations in Papua New Guinea
InterOil (IOC) is relocating core functions from its 100-person office in Cairns, Australia, to support expanding operations in Papua New Guinea. The Cairns office will close by the end of the year. The decision to increase capacity in PNG comes as InterOil is finalizing an agreement with Total (TOT) to develop a multi-billion dollar LNG project in PNG. Work continues on completing the Total agreement by the end of Q1 2014. InterOil has also begun a new round of drilling as part of its exploration activities across almost 4M acres in PNG. The company plans to drill up to eight wells in the next 12-15 months. The commencement of drilling operations will employ an additional 300 people.
News For IOC;TOT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 2, 2015
11:23 EDTTOTShell and Total to operate first foreign gas stations in Iran, AP reports
Subscribe for More Information
September 28, 2015
10:00 EDTTOTOn The Fly: Analyst Initiation Summary
Subscribe for More Information
08:04 EDTTOTTotal initiated with an Outperform at BMO Capital
Subscribe for More Information
September 24, 2015
13:29 EDTTOTTotal's Russian Arctic gas project receives Chinese investment, WSJ reports
The chances of Total's (TOT) Arctic natural gas project in Russia coming to fruition has been strengthened by a state-backed Chinese investment, the Wall Street Journal reports, citing comments from Total CEO Patrick Pouyanne. Yamal, a $27B project on a Russian peninsula, will be the main test to see if Russian energy projects are possible after its lead partner OAO Novatek (NOVKY) was hit with U.S. sanctions, the report says. Reference Link
September 23, 2015
18:19 EDTTOTTotal CEO downplays allegations of market manipulation, WSJ says
In a Wall Street Journal interview following market manipulation claims by the Federal Energy Regulatory Commission, Total CEO Patrick Pouyanne disclosed that the company is also being investigated by the Commodity Futures Trading Commission, though Pouyanne downplayed the matter. "There was no wrongdoing," said the Chief Executive, adding that the CFTC claims are being settled "for a few million dollars." Reference Link
06:06 EDTTOTTotal to cut 2015 CapEx to $23B-$24B, 2016 CapEx to $20B-$21B
Total plans to return to a "sustainable level" in CapEx of $17B-$19B from 2017 onwards. The company is further increasing its OpEx reduction target by $50% to $3B from $2B by 2017. Total achieved a production increase of 11% YoY during 1H15. Production is planned to grow by an average of 6%-7% per year between 2014 and 2017, and by an average of 5% per year between 2014 and 2019. The company confirms that organic free cash flow will cover the dividend by 2017. The company also plans to invest CapEx of around $500M per year to build profitable businesses in new energies. Comments taken from Total Strategy & Outlook Presentation.
05:31 EDTTOTExxon Mobil initiated with an Underperform at Macquarie (yesterday)
Subscribe for More Information
September 22, 2015
18:38 EDTTOTU.S. regulators accuse Total of manipulating natural gas markets, WSJ says
The Federal Energy Regulatory Commission has accused Total's U.S. subsidiary of making money-losing gas purchases in order to manipulate prices on its other trading positions, reports the Wall Street Journal. The alleged scheme was conducted from 2009 to 2012, said the report. Total issued a response to the publication, saying it is fully cooperating with FERC and denying any wrongdoing. Reference Link
13:14 EDTTOTTotal initiated with an Outperform at Macquarie
Subscribe for More Information
10:00 EDTTOTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Midstream (AM) upgraded to Outperform from Neutral at Credit Suisse... China Southern Airlines (ZNH) upgraded to Neutral from Underperform at Macquarie... DuPont (DD) upgraded to Buy from Neutral at Citi... Entergy (ETR) upgraded to Overweight from Equal Weight at Barclays... HSBC (HSBC) upgraded to Conviction Buy from Buy at Goldman... KLA-Tencor (KLAC) upgraded to Buy from Neutral at Nomura... Total (TOT) upgraded to Buy from Hold at Societe Generale.
06:18 EDTTOTTotal upgraded to Buy from Hold at Societe Generale
September 21, 2015
09:39 EDTTOTTotal downgraded to Accumulate from Buy at Tudor Pickering
Subscribe for More Information
09:09 EDTTOTSuncor to acquire additional interest in Fort Hills oil sands project
Suncor Energy (SU) announced that it has agreed to purchase an additional 10% working interest in the Fort Hills oil sands project from Total (TOT) E&P Canada Ltd., for total aggregate consideration of $310M at the time of announcement. As a result of this transaction, Suncor's incremental capital increase to Fort Hills is estimated at just over $1B of which approximately $700M is remaining project spend. Upon closing, Suncor's partnership share in the $15B project will increase to 50.8%. As part of the transaction, Suncor acquires a further proportionate interest in Fort Hills related logistics, including pipelines, storage terminals and third-party pipeline capacity agreements. The Fort Hills project is located in Alberta's Athabasca region, 90 kilometres north of Fort McMurray. The transaction is subject to closing conditions, including regulatory approval under the Competition Act. Teck has agreed to waive its right of first refusal to purchase a pro-rata share of the offering. The transaction is anticipated to close by the end of the year.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use