November 10, 2014 / 11:34 AM / 3 years ago

Total says can withstand oil at $80, to continue projects

ABU DHABI (Reuters) - Big oil companies such as Total (TOTF.PA) can withstand oil prices at $80 a barrel and the French firm will continue its current investment projects, Total’s president for exploration and production said on Monday.

“$100 was a good level to ensure continuous supply of projects for the future,” Arnaud Breuillac told a news conference at a major energy industry conference in Abu Dhabi.

    But he added, “Large companies like Total have financial capability to weather a bit of time when the oil price is lower,” and said Total did not want to cut back its investment budget.

    “We will continue with our capital discipline. We have a strong roadmap for the next few years with a lot of projects, and all of them will continue.”

    Breuillac also said Total did not think oil prices would stay as low as $80 for long.

    Reporting by Maha El Dhana; Writing by Andrew Torchia

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below