Gulf Oil and Gas accountACCOUNT

Total Sells Interest in Pipeline Network

Source: www.gulfoilandgas.com 8/5/2019, Location: Europe

Total has signed an agreement to sell a 30% interest in Société des Transports Pétroliers par Pipelines (Trapil) to Pisto SAS for €260 million (about $290 million).

“The sale of Total’s interest in this infrastructure reflects its active portfolio management strategy. Rather than own infrastructure assets, the Group’s aim is to hold contracts to use such infrastructure when needed to manage its industrial assets. This sale will help us achieve our target of divesting $5 billion in assets over the period 2019-2020,” commented Jean-Pierre Sbraire, Chief Financial Officer of Total.

Following the transaction, which is subject to French regulatory approvals, Total will remain a minority shareholder with an interest of 5.55% and will continue to use Trapil infrastructure under the current terms and conditions to carry products from the Normandy and Grandpuits refineries.

Acquisitions and Divestitures News in France >>

Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on June 29, 2020, informs the beginning of the binding phase, referring to the sale of its enti...
Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on 06/26/2020, informs the beginning of the binding phase, referring to the sale of its entire ...

Brazil >>  8/7/2020 - Petrobras, in continuation of the communique released on 06/01/2020, informs the beginning of the binding phase regarding the sale of its stake (35%) ...
Brazil >>  8/5/2020 - Petrobras, following up on the release disclosed on 01/03/2020, informs that it signed with Centro Oeste Óleo e Gás Ltda. an agreement for the sale of...

Nigeria >>  8/4/2020 - Canadian Overseas Petroleum Limited ("COPL"), an international oil and gas exploration and development company focused on offshore Africa, is pleased ...
Bangladesh >>  8/3/2020 - United Oil & Gas PLC ("UOG"), the high growth oil and gas company with a portfolio of production, development and exploration and appraisal assets is...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


France Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.