Total: 2010 Cash Flow To Benefit From Start-Upgrades, Cost Cuts
September 16 2009 - 2:22AM
Dow Jones News
French oil giant Total SA (TOT) expects 2010 cash flow to be
lifted by new projects and cost cuts, and expects capital
expenditure this year to remain within its $18 billion budget,
according to slides on the company's Web site Wednesday.
The company is due to present the slides at its midyear review
later Wednesday in London, at 1100 GMT.
According to the slides, the company expects a limited impact on
its annual accounts from its reduced production in the first half.
Upstream technical costs were at their lowest level in the first
half, the company said.
Total in July posted a 54% fall in second quarter net profit as
oil prices and refining profits dropped.
Total expects its liquefied natural gas capacity to grow by an
average of 7% per year through 2020, according to the slides.
Company Web site: www.total.com
-By Mimosa Spencer and Alice Dore, Dow Jones Newswires; +33 1 40
17 17 73; mimosa.spencer@dowjones.com