Tag: Total

The Danish Energy Agency approved Maersk's sale of Maersk Oil to global oil major Total, including the conditions for such a transfer. As part of the agreement Total will take over Maersk Oil’s organisation, portfolio, obligations and rights with minimal pre-conditions.

French Total, Borealis and NOVA Chemicals Corporation announced that affiliates of the three companies have signed definitive agreements to form a joint venture in petrochemicals on the US Gulf Coast. Under the joint venture, Total will own 50% and Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals, will own the remaining 50%.

Total selects AVEVA for information management

Total has issued a press release to announce the signature of an LNG Cooperation Agreement strengthening the partnership between Total and China National Offshore Oil Corporation (CNOOC).

Greenhouse gas emissions and hydrocarbon contamination lower than expected While the Elgin North Sea natural gas leak that was plugged on Wednesday was a massive financial blow for its operator Total, it appears the incident had little impact on the environment in terms of global warming and local marine life.The Department of Energy and Climate Change (Decc) says it estimates that during the 52-day leak, Elgin released the equivalent of 47,000 tonnes of carbon dioxide, or 18,000 tonnes more than would have been released during normal operations of the well.The greenhouse gas impact was mitigated when Total was able to slow the leak of natural gas from 200,000 cubic metres a day at its start to around a third of that in mid April, and then down to 50,000 cubic metres by the time the well was stopped with heavy mud on 15 May.A Decc spokesman said:"The provisional total UK emissions of the basket of six greenhouse gases covered by the Kyoto protocol, including the offshore sector, during 2011 was 549.3m tonnes of carbon dioxide equivalent, or approximately 45.8m tonnes per month.""The Elgin release therefore represents approximately 0.1% of the UK's monthly emissions total. Only considering the increase in emissions ...

Work to stop leak on Elgin platform, which involved pumping heavy mud into well, has been a success The near two month crisis around a gas well on the Elgin field in the North Sea appeared to have been averted on Wednesday with French operator, Total, saying it had succeeded in plugging the leak.Shares in the company rose more than 2% on the announcement that no more methane was being released into the environment and the company can soon put a halt to its relief operations which have been costing it $3m a day."A major turning point has been achieved," said Yves-Louis Darricarrere, Total's head of exploration and production, but the company said it was too soon to say when gas and condensate production could resume.The Elgin platform used to pump about 3% of Britain's total gas output from nearly four miles below the seabed, and the incident comes on top of production problems elsewhere.Safety issues in Yemen and a gas leak in Nigeria have been putting a brake on the company's target of increasing its global output by 2.5% through to 2015.The oil world is very nervous of offshore incidents after BP's Macondo oil well spill in the Gulf ...

The energy company has started pumping mud into the well in an attempt to stop the leak The oil company Total started pumping heavy mud down its leaking well in the North Sea on Tuesday in an attempt to stop an escape of gas that has lasted nearly eight weeks and could deprive Britain of nearly 6% of its supply this summer."The well intervention operation got underway at 8:20am with the pumping of heavy mud into the well from the main support vessel," the oil and gas major said in a statement.The work, at the Elgin platform, 240 km off the coast of Scotland, is expected to last several days before engineers can determine whether the leak has been stopped, Total said.The leak is costing the company around 1.8m a day in relief operations and lost net income.The Department of Energy and Climate Change, which gave the go-ahead for the "well kill" work earlier this month, said it was monitoring the situation closely.The company said last week the amount of gas leaking from the platform had shrunk to a quarter of the original quantity and that parallel work to drill a relief well continued.In the meanwhile, a nearby gas field ...

11.75 million metric tons of LNG to the unit Total SA (FP)'s Indonesian exploration unit delivered the first liquefied natural gas cargo to a floating storage regasification unit off West Java.Total E&P Indonesie shipped the cargo from the Bontang LNG plant in East Kalimantan on Borneo island to the nation's first floating terminal on April 25, the company said in an e-mailed statement today. It didn't specify the cargo volume.Total and Japan's Inpex (1605) Corp. will supply 11.75 million metric tons of LNG to the unit from the Mahakam block in 2012 to 2022, Total said.The floating LNG terminal has a capacity of more than 3 million tons a year and is operated by PT Nusantara Regas, a venture between Indonesia's state oil company, PT Pertamina, and the country's largest gas distributor, PT Perusahaan Gas Negara, according to Regas' website. The gas will be delivered to two power plants operated by PT Perusahaan Listrik Negara, the state utility, through a subsea pipeline, the company said.Source: LNG

Total reassure public that damage from its gas leak will be limited soon Oil giant Total has moved to reassure investors and environmental activists over the past week that the financial and environmental damage from its gas leak in the North Sea would be limited, a task made more difficult by comparisons to BP's handling of a catastrophic oil spill in the Gulf of Mexico nearly two years ago.Initial data showed that the leak from Total's platform in the Elgin gas field 150 miles (250 kilometers) off the coast of Scotland - which was first detected March 25 - was pouring out about 7 million cubic feet (200,000 cubic meters) of natural gas each day. On Friday, the company said the rate of the leak appeared to have slowed but had no new figure.In a conference call to analysts and reporters last week, Total Chief Financial Officer Patrick de La Chevardiere appealed to those listening to avoid comparisons between the Elgin leak and the Gulf spill at BP's Macondo well."While we understand that comparisons to Macondo are inevitable, we would like to state clearly that the situations are very different," he said. "There is no crude oil involved here and ...

An explosion waiting to happen?