France's Total SA is cutting capital expenditures by 10% this year and putting two oilsands projects on �a long backburner,� according to CEO Patrick Pouyanne, as the oil major braces for a dramatic decline in crude oil prices.
TOTAL S.A. (TOT - Analyst Report) saw a big move last session, as the company's shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session.
Total's stock price has declined by double-digits this year, due to the ongoing collapse in oil prices. Total is also suffering from exposure to deteriorating economic conditions in Europe, and the death of the company's Chief Executive Officer ...
Total SA (NYSE:TOT) last announced its earnings results on Wednesday, October 29th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.15.