Total's new MENA adventures
The company is set to benefit from shale in the Middle East despite having shunned it elsewhere
Remember the days of buccaneering Big Oil? Total's boss Patrick Pouyanne certainly does. The company's chief executive has plunged the French major into a series of eye-catching deals in the Middle East and North Africa. Having turned its back on newer developments with the US shale sector, Total has jumped into Iran, Libya and two feuding Gulf states is a return to the high-risk-high-return of oil companies of old. But the burly Pouyanne, a former rugby player who describes the oil business as "an adventure", insists his investments make sense. "Stop speaking about shale as if it's the new bible, it's not true," he told Bloomberg in January. "It's not true that it's the lowest (cost) barrel
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised