Total sticks with short-term growth target

摘要

London-French oil major Total is on target to meet its short-term production growth target of 7% next year despite a decline in output during the third quarter, CFO Robert Castaigne said November 8 following the publication of third quarter results. "We prefer to maintain 7% even if the 2006 figures will be lower...we prefer be on the safe side," he said on a conference call. The company said production fell by 5.5% in the third quarter to 2.29 million b/d of oil equivalent, largely due to supply disruptions in Nigeria's Niger Delta and divestments of onshore assets in the US. Castaigne said production in 2006 would average 2.35 million boe/d.