Total Under Investigation

Total Under Investigation

Some of French oil company Total SA’s transactions in the US are under investigation by the US Commodity Futures Trading Commission, and the company is in talks to settle the matter, according to company officials. The existence of the CFTC probe emerged after a separate US agency, the Federal Energy Regulatory Commission, released a notice accusing a Total subsidiary of making money-losing gas purchases intended to move prices in a way that helped it make profits on other trading positions on at least 38 occasions in the southwestern US, Market Watch reported. Asked about the FERC probe in an interview, Total Chief Executive Patrick Pouyanne dismissed the allegations, saying the company was settling similar allegations by the CFTC “for a few million dollars”. Total is among the world’s largest oil producers but also has a sizable trading arm that buys and sells everything from crude to refined products and petrochemicals. In the US, it has been a player in physical and financial natural gas markets for 25 years.


Short URL : https://goo.gl/D63CHJ
  1. https://goo.gl/YG6SpI
  • https://goo.gl/7W7yNT
  • https://goo.gl/KGxJBk
  • https://goo.gl/kRSkgC
  • https://goo.gl/M0q7TZ

You can also read ...

The OGCI initiative is now made up of BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Pemex, Petrobras, Repsol, Saudi Aramco, Shell and Total.
ExxonMobil, Chevron and Occidental Petroleum are joining the...
New Delhi Will Pay for Iranian Oil in Rupees
India may revert to paying Iran in rupees for the oil it buys...
Zanganeh to Veto OPEC Decisions Against Iran
Oil Minister Bijan Namdar Zanganeh on Thursday said he would...
US Wants Lower Oil Prices  for Protecting Arab States
US President Donald Trump on Thursday demanded OPEC lower...
Iraq Crude Exports From South Nearing Record High
Crude oil exports from southern Iraq are close to a record...
MAPNA to  Build Petrochem,  Power Plant in Parsian SEZ
Iran's top engineering and energy enterprise MAPNA Group is...
US Oil Sanctions to Harm Int'l Economy
Imposing sanctions against oil producing states like Iran will...