Total To Sell $5.5 Billion in Assets in 2015

Total To Sell $5.5 Billion in Assets in 2015, that the French oil and gas major Total concludes £585m deal to sell North Sea oil and gas assets itself of £585m of its North Sea assets to North Sea Midstream Partners.

Total

When the price of a commodity falls, there are two ways for companies to react: Either cut costs and even sell assets to improve cash flow, or to invest – if you can afford to.

The past week saw examples of both approaches. On Aug. 26, Schlumberger Ltd., the world’s largest oilfield services company, said it will spend about $12 billion to buy Cameron International Corp., a leader in making oilfield equipment. The deal is intended to streamline Schlumberger’s operations and attract customers by bundling service and equipment fees at lower prices.

The next day, Total, France’s oil and gas giant, took the other tack, saying it would sell a gas pipeline and a gas terminal in the North Sea for $905 million as part of restructuring plan that includes a reduction in investments, an increase in oil production and a cut in investment costs.

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