- American City Business Journals•15 hours ago
Paris-based Total SA (TOT) has made a preliminary agreement to create a joint venture with Calgary-based Nova Chemicals Corp. and Vienna-based Borealis AG to invest $1.7 billion near Houston. The joint venture will build a 1 million ton-per-year ethane steam cracker in Port Arthur, Texas, next to Total's existing refinery, according to a Total press release. Assuming the regulatory process goes smoothly, the companies are set to establish the joint venture — of which Total will own 50 percent — later this year.
- Associated Press•yesterday
PARIS (AP) — French energy company Total is launching a multi-billion-dollar petrochemical joint venture in Texas as it tries to profit from the "business-friendly environment" under the current U.S. administration.
French oil and gas major Total said it aims to become a major player in the U.S. polyethylene market as it announced a $1.7 billion joint venture on Monday with Austria's Borealis and Canada's Nova Chemical. The new venture plans to build a 1 million tonne per year ethane steam cracker in Port Arthur, Texas, and is also considering building a 625,000 tonnes per year polyethylene unit at Total's Bayport site, also in Texas, on the U.S. Gulf Coast. Total will hold a 50 percent stake in the venture and the new cracker, which will be built alongside Total's Port Arthur refinery and Total/BASF's existing steam cracker, is scheduled to start in 2020, it said.
FP.PA : Summary for TOTAL - Yahoo Finance
TOTAL S.A. (FP.PA)
Paris - Paris Delayed Price. Currency in EUR
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|Bid||42.90 x 1100|
|Ask||43.20 x 25000|
|Day's Range||45.94 - 46.17|
|52 Week Range||38.06 - 49.50|
|PE Ratio (TTM)||18.39|
|Dividend & Yield||2.62 (5.30%)|
|1y Target Est||N/A|