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Total CEO Says He Doesn't Need Permian Basin Shale to Thrive

  • Lack of shale in portfolio no handicap to making profits
  • Pouyanne focusing on deep seas, LNG, traditional oil regions
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Total Doesn't Need Shale to Thrive, CEO Pouyanne Says

Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field.

“Total today is the most profitable major company without any shale,” Patrick Pouyanne said in an interview Monday on Bloomberg Television. Instead, Pouyanne said his company is focused on five core areas -- Africa, the Middle East, the North Sea, deepwater development and liquefied natural gas. “I prefer to play into my strengths,” he said.