TOT Slides

[Palm]

That's not the slam he's talking about

[sageo]

Shell pulls the plug on Arctic exploration for now Oil company Royal Dutch Shell is pulling out of exploration in Arctic waters off Alaska for the foreseeable future and could take a hit of up to $4.1 billion after failing to find enough oil.

I'm sure if they found oil, they would still be drilling.

  Gator and 'Oil Lady' - Thanks  for your posts concerning Shell . At the bottom of page 5 of the MS report posted this am, mention was made that a third SM could be looking at PNG.  Hmmm.....more wondering for now !

[jft310]

The PNG govt stated a third Super Major . Some like it hot . It's hot in PNG now ,

[Tree]

......Beyond 2019, future production growth will come from Uganda, Brazil and Papua New Guinea  when supply chain costs are expected to be lower.

“Fortunately, we currently have no project coming before the executive committee to be sanctioned,” said Total’s chief financial officer Patrick de la Chevardiere.

“I am very happy (because) costs will be lower next year and we see cost deflation coming,” he added.

Pouyanne said ongoing portfolio management will also result in reduced spending over the next two years, pointing out Total is sticking to its previous guidance of selling some $10 billion of assets between 2015 and 2017.......

[Stavros]

This project will most likely be sanctioned by TOTAL in 2016.
The Total Investment Cost (TIC), over a project period of 4 years, will be on the order of $3 Billion give or take.
Not very much considering TOTAL's intention is to spend $18 Billion per year on Capital Expenditure (25% of which is on E&P and 75% for Projects such as this one and PNG LNG).


CB&I Announces Contract for Ethylene Cracker Project

PR Newswire
THE WOODLANDS, Texas, Sept. 23, 2015

THE WOODLANDS, Texas, Sept. 23, 2015 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract by Total Petrochemicals & Refining USA, Inc. to provide its proprietary ethylene technology and front-end engineering and design (FEED) services for a proposed new ethane cracker located in Port Arthur, Texas. The proposed cracker will have a capacity of one million metric tons per year of ethylene. CB&I will provide FEED services and the process license for its latest, proven ethylene technology, including seven highly selective SRT® (short residence time) cracking heaters.

"We appreciate the opportunity to work with Total, one of the world's largest integrated producers and look forward to collaborating closely with them to develop this project through FEED and beyond," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "The award of both the technology license and the FEED phase for this significant ethylene project reflects the confidence Total has in CB&I's integrated capabilities."

[sageo]

Puts is correct but that all changes next year . A payment next year of @ $2 Billion changes everything . UBS's work shows a stock price in the $90 with that size payment .

Jft - Good am to you. [ Please bear with me while I do a little more "wondering" ] . If UBS  work shows $90 (even if the payment is a little less than 2 billion,) how would this thought sound to you : Since Shell just suffered a 7 billion dollar loss on their Artic venture ,they could buy IOC for 5 billion and change,and in 10 years or so they could re-coup their loss and be on their way to " better days" since the next cycle in oil and gas should be on the up-swing. Any credence to my "wondering" ?

[AU74]

I'll give you some credence.Credence ClearwaterHorizon Revival, sore some such.

[AU74]

Yeah, been drinking. Sorry.

[jft310]

Sageo Shell sure appears to want into PNG most obvious it appears is Woodside's bid for Oil Search . Shell owns 10 percent of Woodside .