Total Sells 25% Tempa Rossa Oil Stake to Mitsui

Bloomberg reported that Total SA agreed to sell a 25% stake in Italy’s Tempa Rossa oil field to Mitsui & Co., as part of its plan to raise up to $20 billion.

As quoted in the market news:

Europe’s third-largest oil company will retain a 50 percent interest and continue to operate the Gorgoglione concession, where Tempa Rossa is located, according to a statement today. Royal Dutch Shell Plc holds the remaining 25 percent.

Click here to read the full Bloomberg report.