Deals
Total Ready to Make Acquisitions as Financial Strength Grows
- French oil producer takes advantage of lower costs to expand
- Debt falls as cash flow and earnings rise with higher prices
A customer refuels his automobile on the forecourt of a gas station operated by Total SA in Luc-La-Primaube near Rodez, France, on Friday, Dec. 11, 2015. Oil extended declines from the lowest price since February 2009 as Iran pledged to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply.
Photographer: Balint Porneczi/BloombergThis article is for subscribers only.
Total SA said it’s ready and able to make acquisitions and pursue growth, shrugging off uncertainties about oil prices as its financial position strengthens.
Europe’s second-largest oil and gas company has the firepower to buy up fields on the cheap and press ahead with new developments, taking advantage of lower levels of debt, rising profit and surging cash flow, according to a statement Thursday.