French major Total impresses with Venezuelan (?) shale

29 Apr 2017   Venezuela

At a time when volatility is an emerging trend in the energy sector, French supermajor Total remains an attractive player, an investment profile read. A floor price for crude oil at around $50 per barrel meant the market is primed enough to sanction the first major project in three years, the French company said this week. The company, the first of the big oil companies out with earnings, said net profit for the first quarter roughly doubled year-over-year to $2.6 billion, meaning it could now move forward with the development of the Vaca Muerta shale deposit in Venezuela. The Royal Bank of Canada said Total’s move was against the tide. This week, the International Energy Agency warned that, outside of the United States, the […]

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