Total Cuts Investment and Commits Integrated Business Model
It is reported that Patrick Polan, Chief Executive Officer of the French oil giant Total, discussed the company's strategy and prospects when he presented to the financial community in London on Wednesday. This year, Total plans to reduce its investment to US$23 billion to US$24 billion. The company’s investment reached a peak of US$28 billion in 2013. In addition, in 2016, the company plans to further reduce its investment to 20 billion U.S. dollars - 21 billion U.S. dollars, and from 2017 onwards it will maintain a sustainable level of 17 billion U.S. dollars - 19 billion U.S. dollars.
Total Cuts Investment and Commits Integrated Business Model
Bo said that in the long run, Total is committed to following its oil and gas integration business model, and plans to use 75% of the investment plan for the upstream, and another 25% for the downstream business. Total also plans to invest about 500 million U.S. dollars in building profitable businesses in the new energy sector.
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