TotalFinaElf renamed Total, CEO talks about Middle East

At a combined general meeting on May 6, TotalFinaElf S.A. shareholders voted to change the name of their company to Total S.A. A company source told Petroleum News that all Total subsidiaries are expected to also be renamed in the near future.

During the meeting Chairman and CEO Thierry Desmarest talked to shareholders about the Paris, France-based company’s position in the Middle East, noting that Total was “very active” in that part of the world and intends to “keep growing there.”

In relation to Iraq, he said Total’s interest was “longstanding and intact. However, we have not signed any contracts or agreements because … TotalFinaElf scrupulously abides by international laws. In the upcoming reconstruction and subsequent development of Iraq, certainly I would expect an open and transparent bidding process for oil contracts.”