French oil company Total SA says it is not selling its natural gas company Totalgaz, despite reports to the contrary.
French news outlet Les Echos reported on Monday that Total had received approximately ten bids for the subsidiary, including French petroleum storage company Rubis. First Reserve, Pamplona, Antagaz, and others.
“There is no sale process of Totalgaz at the moment,” a Total spokesman said, “If this process happens, it will be done respectfully of (union) representatives and industrial logic.”
The BLM Land Scandal Deepens
There is one big area where oil and gas production has fallen into a slump over the last five years. Federal land. One needs to only look at the Bureau of Land Management to see what a bottleneck drillers face when filing for permits. It’s one of the reasons why drillers on non-federal lands are doing so well, with one secret gem standing out.