Total More Reserved On India Than China Downstream Operations - CEO
May 15 2009 - 7:29AM
Dow Jones News
Oil major Total SA (TOT) has more reservations about investing
in downstream operations in India than it does for China because of
a lack of precision in Indian regulation, Chief Executive
Christophe de Margerie said Friday.
Investing in downstream operations in India could be dangerous
as the country doesn't have "precise rules" relating to such
activities, de Margerie said at the company's annual general
meeting.
However, he also noted earlier that China has shown its
willingness to dictate the level of refining margins.
For integrated oil companies like Total, downstream notably
refers to refining and marketing of fuel and to petrochemicals
activities.
-By Adam Mitchell, Dow Jones Newswires; +33 1 40171740;
adam.mitchell@dowjones.com