Latest update: 25/01/2009 

- financial crisis - gas - oil


Christophe de Margerie, CEO, Total
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FRANCE 24's Raphael Kahane met Christophe de Margerie, chief executive of the French oil company Total, to discuss the future of energy prices and the impact of the global crisis on the company's investment projects.
THE BUSINESS INTERVIEW
By FRANCE 24 (text)

On January 20th, Barack Obama's swearing-in ceremony was met by the steepest stock decline for any inauguration day in US history, and oil prices remain close to a four-year low (close to 40 US dollars a barrel).

Raphael Kahane met Christophe de Margerie, the chief executive officer of the world's fourth-largest oil company, Total. They discussed oil prices and their impact on consumers, on the company's investment strategy and, more broadly, on the economy.

Total's investment projects (exploration and development) were based on a 80-dollar or 90-dollar barrel. With current prices of crude oil as low as 40 dollars, projects may not be profitable. They may be delayed and reshaped.

They also talked about the energy policy of the new US president, Barack Obama, and the possible evolution of diplomatic and economic ties with Iran.

Watch the interview by clicking 'Play Video' above.

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