Total reiterates Russia commitment despite sanctions fears [Seeking Alpha]
TOTAL SA (TOT)
Last total sa earnings: 2/7 04:01 pm
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Source: Seeking Alpha
Total reiterates Russia commitment despite sanctions fearsTotal (TOT+0.7%)underscores its commitment to Russia despite fears over U.S. sanctions and geopolitical pressures that have sparked a steady retreat by other foreign energy majors, as CEO Patrick Pouyanné says he wants the company to be Russia's largest foreign oil and gas player.The CEO made his comments today at the launch of a lubricant factory outside Moscow, TOT's newest investment in Russia.TOT’s biggest exposure to Russia is its 19.4% stake in gas producer Novatek and a 20% interest in $27B Yamal LNG project in the Arctic; this summer, TOT said it would buy a 10% stake in Novatek’s new Arctic LNG 2 project.Click to subscribe to real-time analytics on TOTNow read:Eni Sees More Positive Developments »Subscribefor full text news in your inbox
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