Total Turns The Screw On Spending In New Strategy For $60/B Oil

Total chief executive Patrick Pouyanné revealed a new company strategy in London on 23 September, which turns the screw even tighter on capital expenditure. Total is readjusting to relatively low oil prices now, while seeking sustainable operations in a market where it predicts a recovery to $60/B medium term.

“Strong discipline on organic capex” is the company’s mantra as it targets a...