Total to Cut Costs, Suspend Buy-Back Plans as Oil Prices Fall

Total to Cut Costs, Suspend Buy-Back Plans as Oil Prices Fall

Total SA (TOT) said Monday that it is implementing an “action plan” as a result of the plunge in oil prices to around $30 per barrel. The measures include organic capital expenditure cuts of more than $3 billion and a reduction of its 2020 net investments to…
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