Speaking on his firm’s Q2 earnings call on 25 July, Total CEO Patrick Pouyanné was keen to assuage investors who have seen Total blow a hole in its 20% gearing target thanks to May’s snap decision to pay Occidental $8.8bn for Anadarko’s African assets (MEES, 10 May).

Noting that Occidental’s $38bn purchase of Anadarko – to which the Total/Oxy agreement is attendant – is expected to close 8 August after approval at Anadarko’s AGM the same day, “the time is right for us and for myself to comment on the acquisition of Anadarko’s African portfolio,” the Total CEO says. (CONTINUED - 1018 WORDS)