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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL (FP)
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Total Will Pull out of Iran Gas Project if No Project Waiver Granted by U.S.

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05/16/2018 | 04:29pm CEST

By Alberto Delclaux

Total SA (FP.FR) said Wednesday it will unwind its operations in the Iran South Pars gas project before November unless it gets a project waiver from U.S. authorities and will not make any further commitments to the project, as a result of the U.S. withdrawal from the Iran nuclear deal.

The French oil-and-gas giant said it will engage with French and U.S. authorities to examine a possible project waiver, which should include protection from any secondary sanctions as per U.S. legislation.

If it doesn't get a waiver, the company will have to unwind operations related to the project before November 4, 2018, it said .

Total said it has spent less than 40 million euros ($47.5 million) related to the project up to this date. A withdrawal from the project will not impact its production target of 5% compound annual growth rate between 2016 and 2022, it added.

Write to Alberto Delclaux at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
TOTAL -1.06% 51.815 Delayed Quote.12.92%
WTI -0.91% 71.16 Delayed Quote.19.07%
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Financials ($)
Sales 2018 193 B
EBIT 2018 19 270 M
Net income 2018 12 738 M
Debt 2018 21 283 M
Yield 2018 4,93%
P/E ratio 2018 12,51
P/E ratio 2019 11,89
EV / Sales 2018 0,96x
EV / Sales 2019 0,94x
Capitalization 164 B
Chart TOTAL
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Total Technical Analysis Chart | FP | FR0000120271 | 4-Traders
Technical analysis trends TOTAL
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 67,4 $
Spread / Average Target 9,9%
EPS Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Patrick de la Chevardière Chief Financial Officer
Jean-François Minster Senior Vice President-Scientific Development
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
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TOTAL18.36%164 200
ROYAL DUTCH SHELL12.83%301 365
PETROCHINA COMPANY5.32%225 491
PETROLEO BRASILEIRO SA PETROBRAS55.59%91 748
EQUINOR25.06%89 307
ENI16.68%67 712