In an effort to alleviate the concequences of the recent oil price plunge, French oil major Total has revealed its plan to reduce the capex for 2020 by more than $3 billion and save about $800 million in operating costs compared to 2019. Total will also suspend its buyback program.
Patrick Pouyanné, Chairman & CEO of Total, addressed the group’s employees on March 19 to mobilize them in the face of the challenges ahead.
Brazil Energy Insight 
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