Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  TOTAL    FP   FR0000120271

TOTAL (FP)

3906
Real-time Quote. Real-time Tradegate - 11/28 03:22:39 am
44.355 EUR   -3.37%
10m ago India plans to cut stake in state lenders to raise $14.4 billion
3h ago Remittance firms sue Australia's Westpac as banks shun money transfer fi..
1d agoDJCameron Pressured by Immigration
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Total, Wintershall to Invest $2.1 Billion in Argentina Natural-Gas Production

02/22/2013 | 08:52am US/Eastern

BUENOS AIRES--France's Total SA (TOT, FP.FR) and Germany's Wintershall AG will each invest about one billion U.S. dollars in Argentina over the next five years to boost natural-gas production, the Argentine government said in a statement Friday.

Total will invest $1.1 billion, while Wintershall will invest $1 billion in projects that will increase the country's annual natural-gas output by 3.1% between 2013 and 2017, according to the statement. Increased output from the investments is expected to total 12 million cubic meters per day.

Argentina is on a big push to try and attract investment in its energy sector to boost output.

Oil-and-gas production has declined in recent years while has demand soared, turning Argentina into a net energy importer and forcing the government to spend billions each year on gas and fuel imports. In 2011, Argentina spent more than $9 billion on imported energy.

Last year, the government nationalized a controlling stake in the country's leading oil-and-gas company from YPF SA (YPF, YPFD.BA) from Spain's Repsol SA (REPYY, REP.MC), accusing the company of bleeding YPF dry with dividends and failing to invest. Now, the government is pouring billions into expanding YPF's production.

Write to Shane Romig at shane.romig@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on TOTAL
10m ago India plans to cut stake in state lenders to raise $14.4 billion
3h ago Remittance firms sue Australia's Westpac as banks shun money transfer firms
1d agoDJCameron Pressured by Immigration
1d agoDJSingapore October Bank Loans S$604.4 Billion Vs S$604.5 Billion Month Earlier
1d agoDJOPEC Leaves Production Target Unchanged
1d agoDJCoca-Cola, SABMiller Strike New Africa Deal -- 3rd Update
1d agoDJSaint-Gobain To Cancel 6.1 Million Shares Owned by Company
1d ago French jobless total hits new record in October - government
1d agoDJEUROPE MARKETS : European Stocks Hold On To Data-driven Gains After OPEC Decisio..
1d agoDJOPEC Leaves Production Target Unchanged -- Update
Advertisement
Chart
Duration : Period :
TOTAL Technical Analysis Chart | FP | FR0000120271 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF