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BP. Bp Plc

495.70
2.90 (0.59%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bp Plc LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.90 0.59% 495.70 496.00 496.10 498.75 493.30 495.45 36,110,224 16:35:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining 211.6B 15.24B 0.8934 5.55 84.61B

France's Total Takes 10% in 15 Oil Fields in Abu Dhabi for 40 Years

29/01/2015 10:38am

Dow Jones News


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By Inti Landauro

PARIS--French oil major Total SA (TOT) took a 10% stake for 40 years in a joint venture with Abu Dhabi National Oil Company which extracts crude in the 15 main fields in the Emirate with a total output of 1.6 million barrels a day.

Total raised its stake from a previous 9.5% it has held in the project over the 75 years to 2014, the company said.

The company operating the fields, Abu Dhabi Company for Onshore Petroleum Ltd, or ADCO, in which Total now holds a 10% stake, has an objective to increase output to 1.8 million barrels a day in 2017.

Other oil majors, such as BP PLC (BP), Royal Dutch Shell PLC (RDSA.LN) and Exxon Mobil Corp. (XOM) were also partners in the joint venture during its first 75 years.

Write to Inti Landauro at inti.landauro@wsj.com

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


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