TOTAL/PetroFina "Big Move"

[dawnstar@xxxxxxxxxxxxx]

so where do we go from here as Total expands through Belgium industrial
territory to become even a bigger world energy giant? any comments?


TOTAL MAKES BIG MOVE 

The London-based Financial Times business daily newspaper
leads its December 1 front page with a top story in headlines 
"Total set for PetroFina takeover/ French oil group likely to announce
move for Belgium rival" :

"Total, France's second-biggest oil group, 
is expected to announce this morning the takeover of PetroFina, the
Belgian oil group, as the wave of mergers sweeping through
the oil sector set to continue...The emergence of Total as bidder for
PetroFina (sic), one of Belgium's biggest industrial companies, came as
a surprise
after recent speculation on Elf Aquitaine, the other big French oil
company.In the past, Thierry Desmarest, Total's chairman,
has been lukewarm towards takeovers and mergers, noting
that Total has one of the fastest-growing production
profiles in the industry. But analysts said a tie-up with
PetroFina would strengthen its European downstream presence,
as well as enhance its overall international exploration
effort, especially in the North Sea...."

"Total is expected to announce a share-swap deal for PetroFina
stakes held by Baron Albert Frere -- the secretive Belgian financier
who controls 30 percent of PetroFina -- and by Belgian energy
group Tractebel...It is also likely to leave Mr. Frere as one of the
largest
single shareholders of Total, a position he already holds in another
French company, multi-utility group Suez Lyonnaise des Eaux."

extracts reprinted from FT by dawn star
EuroBurmaNet
Worldwide Total Boycott
euroburma.com