Total SA, Europe’s third-largest oil producer, said second-quarter production would be cut by a gas leak in the North Sea as earnings in the first three months were weighed down by a weak refining market.
Etablissements Maurel & Prom SA, a French oil explorer, jumped after announcing a plan to buy a 29 percent stake in Tuscany International Drilling Inc. as part of the Canadian company’s purchase of its rig unit Caroil SAS.
Technip SA, Europe’s second-largest oilfield-services provider, reported a 33 percent increase in fourth-quarter profit and said new discoveries will bolster the business in the coming year. The shares advanced to a record.
Technip SA, Europe’s second-largest oilfield-services provider, reported a 17 percent increase in third-quarter profit and raised the target for sales from subsea projects amid high oil prices that could drive new projects.
Etablissements Maurel & Prom SA Chief Executive Officer Jean-Francois Henin , the largest shareholder of the French oil explorer, said he’s failed to attract a reasonable offer for the company, which has also tried to list in London.