Total Plugs Gas Leak, Sees Rise in Shares
Reuters reported that shares in Total SA (NYSE:TOT) rose more than two percent on the news that the company had plugged a well at its North Sea Elgin platform that had been leaking for seven weeks.
Reuters reported that shares in Total SA (NYSE:TOT) rose more than two percent on the news that the company had plugged a well at its North Sea Elgin platform that had been leaking for seven weeks.
As quoted in the market news:
The leak 240 km off the coast of Scotland has been costing Total around $3 million a day in relief operations and lost net income.
‘Obviously good news for the group. Final costs are now awaited, but no bad surprises expected,’ analysts at Alphavalue said in a note. Shares in Total had lost 16 percent since the gas leak began in late March.