A spokesperson for Total SA (NYSE: TOT) said Jan. 25 that Patrick de La Chevardière, CFO of the French oil and gas major, will retire by the end of this year.
De la Chevardière has been Total CFO for the last 11 years and has been with the firm for 37 years, according to the company’s website.
Total’s spokesperson declined to comment on a report in French business magazine Challenges that he would be succeeded by Jean-Pierre Sbraire, currently deputy CFO at the group.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
Oil and gas operating costs in the U.S. shale basins have come down recently following a drop in crude prices, BP’s head of upstream Bernard Looney said on Feb. 5.