Market Chatter: Total Gets Go-Ahead to Restart Operations at Elgin-Franklin Gas Field

By Staff,

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The UK offshore safety regulator has given French oil and gas giant Total ( TOT ) the green light to resume operations at its Elgin-Franklin Gas field following a leak which has kept it offline for almost a year, Upstream Online reported.

The Health & Safety Executive said today it had accepted Total's revised safety case for the field and that it was now up to Total to decide when to restart operations.

Total said it was looking to restart production as soon as it was "safe and practical" to do so, which it hoped would be within the next few days, Upstream reported.

ADRs of TOT are up 0.22% to $50.96 in mid-day trade, within a 52-week range of $41.75 - $56.16.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: TOT

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