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Tag Archives: Paris

Technip offers $1.8B for seismic company

Technip is offering to pay CGG, a French oil and gas reservoir data and seismic equipment company $1.8 billion to purchase the company, but so far the offer has been declined. Technip, a Paris-based oil and gas equipment supplier, stated it had contacted CGG on November 10 with a $10.40-per-share tender offer. According to Collin Eaton of Fuel Fix, the ...

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Senior BNP Paribas energy traders quit; bank denies downsizing

(Reuters) – Two senior BNP Paribas energy traders in New York have left, but the Paris-based bank said on Monday it was not downsizing its U.S. commodity and energy businesses. Keith Shoemaker, managing director of North American natural gas trading, and William Hartz, head of financial oil trading, have resigned, BNP Paribas’ head of commodity derivatives Catherine Flax told Reuters. ...

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Total CEO keeps costly drilling strategy to end: 2014

christophe

PARIS – The chief executive of French oil major Total <TOTF.PA> is giving himself until the end of the year to strike oil at a big new field somewhere in the world before considering whether to change direction and cut the exploration budget. The Paris-based oil major, which launched a drilling strategy that it termed “high-risk, high-reward” two years ago, ...

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GE, Siemens defend rival plans for France’s Alstom

CEO Jeff Immelt

By Natalie Huet and Benjamin Mallet for Reuters (Reuters) – General Electric (GE.N) and Siemens defended rival proposals to buy the power arm of Alstom (ALSO.PA) on Tuesday, both assuring France that its prized engineering firm would emerge strengthened, including in its remaining transport business. Top executives for both groups told lawmakers their plans were good for Alstom, for France and its jobs, as they strived to ...

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France’s Total in shale deal with Russia’s Lukoil

PARIS (AP) — French energy company Total SA is hooking up with Russia’s largest private oil company to explore and develop a huge Siberian shale oil field, despite Western sanctions and anger over the Kremlin’s role in Ukraine’s crisis. The deal signed Friday with Russia’s Lukoil draws new attention to French economic ties with Russia, and the French government’s reluctance ...

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France’s Hollande says GE must improve Alstom bid

PARIS (Reuters) – French President Francois Hollande said General Electric’s (GE.N) bid for Alstom’s (ALSO.PA) energy business is not acceptable as it stands and that the government’s aim is to get better offers. “The bid is not good enough, it’s not acceptable,” Hollande told RMC radio on Tuesday. Asked whether it was possible that the state, which currently holds around 1 percent in ...

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France caught between nuclear cliff and investment wall

FRANCE

PARIS (Reuters) – France must decide in the next few years whether it wants to continue its nuclear-driven energy policy at a cost of up to 300 billion euros ($415 billion) or if it wants to embark on an equally costly route towards using other fuels. Most of the country’s 58 nuclear reactors were built during a short period in ...

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Greenpeace activists occupy French nuclear plant

Greenpeace Logo

PARIS (AP) — Police have surrounded a nuclear plant in eastern France after more than 60 Greenpeace activists occupied it Tuesday to protest the nation’s reliance on atomic power. Activists hung a banner reading “Stop Risking Europe” next to one of the reactors at the Fessenheim plant near the German border. France’s oldest nuclear plant, it has become a flashpoint ...

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French strike keeps a third of oil refining sector shut

PARIS (Reuters) – A strike at three of Total’s <TOTF.PA> five oil refineries in France held firm for an 11th day on Monday, but the risk of a repeat of fuel shortages seen during a 2010 walkout receded after staff at a fourth plant returned to work on Sunday. The strikers, led by the CGT union, demand an improved pay ...

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