Total in no hurry to sell oil sands assets - CEO

Published 2017-09-25, 06:53 a/m
© Reuters.  Total in no hurry to sell oil sands assets - CEO
TTEF
-

Sept 25 (Reuters) - Total SA TOTF.PA

* Total CEO Patrick Pouyanne said on Monday that the company was not in a hurry to "diversify" (sell) high break-even assets such as oil sands.

* Pouyanne told analysts during a call that the company would wait until oil prices rise before selling the assets.

* "We will see what we will do with this project in the coming years but... my priority is value over volumes and oil sands are among the high breakeven projects in the portfolio," Pouyanne said.

* "I don't want to lose value, so my view is that we need to wait to have higher prices before we sell the assets, we are not in a hurry," he added.

* Total is in dispute with its Canadian partner Suncor Energy after the French company said it would not provide any more funding for their Fort Hills oil sands project in northern Alberta.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.