Baku - APA-Economics. France’s Total will continue to reduce investments and expenditures to preserve profitability.
In 2017, the expenditures will be reduced to $15-17 billion from $18-19 billion. However, the company will reduce operating expenditures $2.4 billion this year, $3 billion in 2017 and $4 billion in 2018.
In order the company to operate on profit in 2017, the Brent crude should rise to $55.
Total holds 5%equity in Baku-Tbilisi-Ceyhan pipeline.