By Eduard Gismatullin
Nov. 17 (Bloomberg) — Total SA, France’s largest oil company, is targeting $5 billion to $15 billion in acquisitions, possibly in the U.S. and Australia, Citigroup Inc. said.
“Australia and U.S. `tight gas’ appear of interest,” David Thomas, a London-based analyst at Citigroup, wrote today in an e-mailed report, referring to deposits of natural gas trapped in underground rock formations.
The company “will not do a hostile acquisition and get into a bidding war” and “worries about possible development costs levels” of U.S. tight-gas assets, Thomas wrote.
Total, Eni SpA, Woodside Petroleum Ltd. and Australian Worldwide Exploration Ltd. may be among companies interested in bidding today for Coogee Resources Ltd., the Australian Financial Review said, without citing anyone.
The Paris-based company also cut crude production in Angola and United Arab Emirates because of the Organization Petroleum Exporting Countries limitations, Thomas wrote, citing a company presentation during the trip to the United Arab Emirates.
Total had to reduce output by 14,000 barrels a day in each country, or more than 1 percent of the company’s combined production, Citigroup said.
Spokesman Kevin Church on Nov. 7 said Total had to cut extraction in Angola so the African country could comply with OPEC policy. The group agreed to cut production by 1.5 million barrels a day at a meeting last month. Angola cut production by 99,000 barrels from Nov. 1 to comply with the reduction.
In late 2009 or early 2010, Total expects to receive approval from the Angolan government to develop the deepwater Block 32, Citigroup said. The first project phase will target resources of about 600 million barrels of oil equivalent, according to Thomas.
— With reporting by Tara Patel in Paris. Editors: John Buckley, Jonas Bergman
To contact the reporter on this story: Eduard Gismatullin in London at[email protected]
Last Updated: November 17, 2008 07:46 EST
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
