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Total 2012 Output Seen Boosted By Two Buys

Total 2012 Output Seen Boosted By Two Buys
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Δευ, 12 Δεκεμβρίου 2011 - 16:57
Total's (TOT, FP.FR) production in 2012 should get a significant boost from two important acquisitions announced last week, says Societe Generale, refering to the buy from GDF Suez (GSZ.FR) of assets in Elgin Franklin Oil and Gas and the increase of its stake in Russia's Novatek (NVTK.RS).
Total's (TOT, FP.FR) production in 2012 should get a significant boost from two important acquisitions announced last week, says Societe Generale, refering to the buy from GDF Suez (GSZ.FR) of assets in Elgin Franklin Oil and Gas and the increase of its stake in Russia's Novatek (NVTK.RS). Also says now assumes Total's Syrian production, of around 39,000 boe/d, is likely to be halted in 2012 and half in 2013. Keeps a buy rating, EUR45.00 target. Shares down 1.2% to EUR38.38.
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