FRANCE'S Total has raised its capital investment forecast in the coming years to as much as $18 billion a year, with the bulk of spending to go on its exploration and production activities. The company also expects to close on the first portion of its $8.8 billion Anadarko Petroleum African assets purchase within days, but chief executive Patrick Pouy-anne warned investors not to expect any similar large merger and acquisition deals from the company in the medium term. Total's previous guidance for capital investment for 2018 to next year was between $15 billion and $17 billion.
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